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Homeowners improving properties to increase "saleability"

27/06/2008

A total of 3.25 million homeowners are planning to move house in the next year, research from Alliance & Leicester indicates.

The Moving Improving research found 19 per cent of homeowners plan to improve their homes to make it more attractive to buyers.

Previously, 38 per cent of owners have improved their properties for that reason, spending an average of £3,000.

Redecorating, improving outdoor space and general maintenance are the most popular property investments, while 16 per cent plan to build an extension, according to the research. A tenth of homeowners plan to improve their property`s environmental credentials.

However, home buyers are more attentive to the number of bedrooms, availability of off-street parking and a large kitchen. A well-maintained property is also important to 55 per cent of respondents.

Alliance & Leicester`s head of mortgage products, Richard Taylor, said: "It is essential [homeowners] are in tune with what potential buyers are looking for. What sellers perceive as necessary improvements can often be irrelevant to those looking to buy."

Yesterday GE Money release figures stating a loft conversion may add nearly £23,000 on to a property`s value, making it potentially the best investment for your home.

Many debts unaffected by base rate cut 09/01/2009 - Yesterday, many borrowers welcomed the Bank of England’s base rate 1.5% base rate – an historic low 08/01/2009 - Today’s base rate cut by the Bank of England’s Monetary Gas price cuts expected 07/01/2009 - Energy company Scottish Power has announced the launch of a Personal debt about £1.5 trillion 07/01/2009 - The UK’s personal debt stands at around £1.5 trillion, according