Added value

Homeowners, worried by reports of falling house prices, are actively looking to maximise their home's value and saleability by taking on DIY and home improvement projects, the Halifax's Home Improvement trends research has found.

Over a quarter, 28 per cent, of homeowners plan to use 2008 to add improvements to their existing property, and 44 per cent hope to add £5,000 to their house re-sale value, with 12 per cent looking to add over £10,000 to any future price.

Russell Galley, head of mainstream mortgages at the Halifax, said: "In the current market, homeowners can inject value into their homes by undertaking the right home improvements.
"Carrying out work on your home can be rewarding but costly to correct if not executed properly. Where appropriate, consult the professionals and seek any necessary planning permission before getting started."

May 27^th 2008

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