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Green improvements perceived to add value

Green improvements perceived to add value

Category: Ethical

Updated: 11/10/2017
First Published: 13/07/2009

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.
Britons believe embracing green thinking when making home improvements offers the best value for money, according to new figures.

UK homeowners think that making adjustments to their property which offer fuel efficiency and energy saving measures are the best way to add value to a home, the annual Halifax Home Improvement Survey has revealed.

While the outlay for such improvements is adjudged to come in at just over £1,700, they can add as much as £4,327 to the worth of a home – a mark up of 251 per cent.

"Energy efficiency measures may not only entice the green buyer but will also help to reduce heating bills and improve a home's energy efficiency, a report of which is part of the Home Information Pack," said Stephen Noakes, commercial director of Lloyds Banking Group.

Home security improvements, redecorating and work to gardens were also thought to add the most value to a property for the least cost by homeowners.

Traditional home upgrades, such as adding an extra room or carrying out a loft conversion fell outside the top five improvements perceived to add the most value to a property as they were also the most costly, thus decreasing their value to cost ratios.

Furthermore, work to install laminate flooring, new carpets and new fitted bedrooms were considered poor value for money, with many homeowners believing they would not recoup their actual outlay.

"This research has shown that it is often the low cost, straightforward home improvements that are perceived to add the most monetary value to a home," said Mr. Noakes.

"These can be carried out at minimum expense and without the need for specialised tools or materials."

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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