Renovating to boost property value

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Renovating to boost property value

Even in the current climate, with major financial uncertainty and falling house prices, there are still millions of people looking to move. A very significant proportion of Britons are renovating and improving their properties solely to achieve the best possible price for their property according to research carried out by Alliance and Leicester.
Almost 40% of people have already improved their home to make it more appealing to purchasers and around 20% are planning to do so. 69% believe that redecorating is the best way to increase value with 59% opting to improve outside space.
The two highest priorities for would-be property purchasers are the number of rooms and the level of maintenance. Around 50% wanted large kitchen space, with 32 per cent prepared to pay more for a garage.
Many home improvers opt to get a personal loan to fund the work and/or buy the materials required. Often the cost of doing this is more than covered by the increase in value of the property.