With a kitchen or bathroom renovation, it is possible to add almost £50,000 to the value of a home in just seven days, according to new research from the Federation of Master Builders and the HomeOwners Alliance, with property valuations supported by The Guild of Property Professionals.
Kitchens and bathroom updates are the most prominent projects in the study, adding the most value to homes in the shortest time. For a full list of projects, their costs, and the value they can add to a home, with estimates broken down by region, see the table below. But first, here are the key findings for the kitchen and bathroom industry:
Brian Berry, Chief Executive of the FMB, said to consumers, “By investing less than £3,500 on the creation of an open plan kitchen and diner, homeowners in London can add a whopping £50,000 to the value of their home in just one week. If you’re looking to move up the property ladder, it’s obviously in your best interests to increase the value of your home as much as possible. By investing in low cost, high return projects. Not only will you make your home a more pleasant place to live, you’ll also be increasing its value significantly.”
FMB | fmb.org.uk