With the economic turn down hitting our house prices hard, more of us may be thinking about ways to increase the value of our home and avoid negative equity.
According to new research by the National Association of Estate Agents (NAEA), the best way to increase the value of your home is to add an extension. Although this may be an expensive move, 92% of estate agents believe that it could potentially improve a home’s asking price.
NAEA chief executive, Peter Bolton King, advised that home owners should be aware of the true value of their property and understand that it is ultimately governed by the average house price in the area. “It is worth researching the local area first and familiarising yourself with what types of properties sell best.”
Home improvements which were less likely to increase house value include loft conversion, off-road parking place and a new kitchen.