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Improvements 'increase chance of selling' for secu

Improvements 'increase chance of selling' for secu

Category: Loans

Updated: 22/08/2017
First Published: 12/11/2008

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 It is now over 6 months old so the content may be out of date.

Secured loans holders thinking of selling their home have been advised to make improvements.

Measures such as changing kitchen surfaces and cupboard doors could add value to a home, celebrity property expert Phil Spencer explained.

A recent survey by Tickbox.net, commissioned by Lloyds TSB, found that nearly three-quarters of people in Greater London believe a new kitchen is the most important improvement to make when selling a home.

But Mr Spencer noted that this can be an expensive step and a property's value can be increased by creating this impression, without spending the money.

In addition, by paying attention to environmental issues homeowners can help make their property stand out - which is particularly important given the difficulty of selling in the current economic climate.

"It's about making a point of difference between their home and one that might be for sale a bit further down the road," he remarked.

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