GO UP THE HOUSE LADDER
We reveal the cost benefit of easy improvements you can do yourself... and when to call in an expert
THE recent surge in house prices has led to a boom in DIY, with two thirds of us spending money on home improvements in order to push up property values, compared to just one in six two years ago.
The Mail on Sunday rolls up its sleeves to look at the best home improvement ideas and when it can pay to find a skilled tradesman to do the work.
Make more space
EXTRA space is the biggest single factor to add value to a home, though the initial investment does not come cheap and you must usually call in experts rather than attempt to do the job yourself.
You can add as much as 20 per cent to the sale price of your home with a loft conversion that includes a bedroom and en suite bathroom, according to research by Halifax. But the initial outlay means any immediate profit will be eaten up by building costs – with a major conversion costing £20,000 to £70,000.
A report by Kingfisher, which owns DIY chain B&Q, found that one in five homeowners wants more space and almost half want a home office.
Kerstin Wonders, 45, of Reigate, Surrey, bought a £440,000 Victorian three-bedroom terraced home with husband Joris, 38, two years ago, which they share with daughters Pippa, 13, and Lilly, 8.
They spent £90,000 adding an extra bedroom and bathroom through a loft conversion, extending the kitchen and putting in extra space for parking.
Kerstin says: ‘We could not afford a four-bedroom house and buying a smaller property that we could extend proved a much better value option.
‘We know our limits and kept DIY to decorating and putting up curtain rails because we do not have the skills of professional builders and might have ended up doing more harm than good.’
She found a builder from a personal recommendation sought from a friend and checked their work before signing an agreement. She says: ‘It is important to know exactly what you want when dealing with builders and have this agreed.
‘And keep a close eye on what is going on with site visits each day to check on progress and keep a friendly relationship.’
Added value: Up to 20 per cent of a property’s price
Cost: £20,000 to £70,000
Redecorating and ‘kerb appeal’
BUYERS usually decide if they want to buy a property within the first few minutes of arriving at a property. So if you are embarking on a DIY job with the intention of improving your selling price it is worth investing time and money to give a good first impression.
A home might just need a clean up, fresh lick of paint and front garden clear-out to improve sell- ing potential – jobs that can be done at a minimum expense as DIY projects.
Katie Punter, 25, of Exeter, purchased a modern two-bedroom terraced house with fiance Dean Fletcher, 28, for £180,000 – moving in last month and instantly cleaning it out.
The recruitment consultant says: ‘It was a bit of a mess when we moved in, with nicotine stains in the interior.
‘We spent three days cleaning top to bottom and then got to work with paintbrushes, plastering and replacing old carpets.’
Katie says that she and Dean have spent about £200 on paints and other equipment, plus a further £700 on carpets – but the biggest investment is in time, with spare evenings and weekends spent doing up the house.
She adds: ‘We still have plenty to do, with the next step being to rip out an en suite bathroom to turn it into a walk-in wardrobe and replacing the main bathroom.
‘Fortunately my father is a plumber so all we have to do is find £600 to buy the new suite. Well-kept examples of this type of house in the area fetch £200,000, so by rolling up our sleeves we are saving £20,000.’
Mark Hayward, president of trade body the National Association of Estate Agents, says: ‘Don’t get clever with colours. Be neutral with a touch of luxury – something like a Farrow & Ball white. The home should be clean, fresh and decluttered.’
Do not forget to include the outside of the house in the makeover. A well-kept front garden and solid, newly painted front door can provide that instant appeal to add value for potential buyers.
Discount websites such as TopCashBack can get you money off on basic DIY tools and materials. It is offering up to 5.25 per cent cashback at B&Q and up to 8.4 per cent at Topps Tiles.
B&Q runs a range of free ‘You Can Do It’ DIY classes at 16 stores around Britain covering everything from wallpapering and plastering to plumbing.
Advice is also available on You Tube via the website link youtube.com/user/bandq.
Added value: Up to 10 per cent of a property’s price
Cost: Budget for at least £1,000 and DIY time
Splash out on modern luxury
A KEY appeal to homebuyers is having a home fit for lifestyle aspirations – ensuring it has all those extra luxuries we all want.
A kitchen or bathroom makeover will attract buyers, but may not boost the property value by as much as is spent.
Research by HSBC has found that a new kitchen may add at least £5,000 to a property’s price, while a new bathroom may boost prices by more than £3,000. Hopefully, it will be money well spent.
A makeover should ensure a home makes the most of its potential and does not lose value from being dated. You also have the advantage of being able to enjoy the benefits yourself before selling.
Hayward, of the NAEA, says:
‘These days everyone wants a clean and fresh live-in kitchen – ideally with lots of light and glass. The dining room is dead and is no longer used.’
He adds: ‘Adding extra rooms is good but look to put in en suite bathrooms as well if you want to add real value.
‘But be careful of all the escalating costs. It may take years to recoup your investment.’
Along with the latest must-have appeal, Hayward says it is important not to cling to dated fads, such as garden decking and plastic conservatories rather than a modern extension to the home. Clean open areas with defined lines are part of modern appeal. Luxury additions such as pools are not guaranteed to add to the appeal of a property and might even put some people off.
The cost of installing a quality concrete pool is typically £20,000, but heating and maintenance costs might make buyers baulk. There may also be safety fears.
Added value: Great potential – but DIY dangers
Cost: At least £5,000 – but costs can soar out of control
Save energy
ENERGY i mprovements can increase home values by up to 14 per cent, according to the Government’s Department of Energy and Climate Change.
Renewables offer the biggest energy saving improvements, but you are unlikely to get an immediate return on your investment.
Solar panels can cost more than £7,000 to install on a roof but often take customers more than a decade to recover the full cost from energy bill savings. A system of 16 solar panels might save households £750 a year on bills. A quarter of homebuyers say solar panels would be a top energy improvement.
David Weatherall, energy efficiency expert at the Energy Saving Trust, says: ‘Renewable technology most excites homeowners who are looking to be more in control of their energy bills. With the cost of options such as solar panels going down it is a good time for homeowners to explore opportunities.’
An average home that manages to improve its Energy Performance Certificate by a couple of bands – from G to E or D to B – is estimated to add more than £16,000 to the sale price, says the DECC.
Unfortunately the cost of doing this is likely to be more than the saving in the short-term and it can take up to a decade to pay off the green bill for taking the necessary energy efficiency measures.
Cavity wall insulation can cost £500, but may also save you £145 a year in heating bills, while doubleglazing can cut bills by £120 a year, according to the Governmentbacked Energy Saving Trust.
But the biggest saving of all can come from a new boiler, saving £300 a year. Savings can take years to recoup as the measures cost thousands of pounds.
Added value: Up to 14 per cent of a property’s price
Cost: Up to £7,000 but a good long-term investment