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Loft conversion 'adds most value to a property'

Loft conversionResearch by HSBC has found that a loft conversion is the best home improvement method for adding value to a property.A loft conversion is the most successful home improvement to add value to a house, a new study of property valuers has shown.

Research commissioned by HSBC has found that converting loft space can add an average of £13,567 to the price of a home, with only six per cent of valuers claiming it would not increase the worth of a property.

A room extension would add £13,285 to a property and only two per cent of respondents disagreed to an increased value following the home improvement.

Simple redecoration was found to be able to add up to £1,994 to a property, however 44 per cent of valuers claimed such a move would add no real monetary increase onto a home

Almost 50 per cent of respondents claimed new carpets would add no value to a property.

Martijn van der Heijden, head of secured lending at HSBC, said: "Today's challenging housing market is making valuers reconsider previously held assumptions of what home improvements actually add in terms of value."

Renowned fashion designer Wayne Hemingway recently claimed that property should be seen as somewhere to "relax with your family" and not just as a means for making money.
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Article Added: 06/05/2009 16:07:06
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