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Home improvements - what is the return on investment?

A few home improvement projects and the expected pay back from the work (not to mention the increased quality of life!):

Converting your attic

This can cost anywhere between £20k to £40k.

Converting your loft in to an extra bedroom, office or gym can add around 20% ot the value of your house according to Nationwide Building Society..

But remember, given its location it could be quite a disruption while building work is going on!

New kitchen

Anything from £8k to £25k depending on size and specification.

Difficult to conclude the ROI, replacing the kitchen can be more a maintaining of the hourse's value.

Converting the garage

Estimates of £5-8k

A garage could convert to a granny flat, a pay room, a mini gym or a music studio.

Solar Panels

Estimated cost £4-6k

In the olden days you had no choice: other people would generate your electricity, largely through burning non-renewable fossil fuels, transport it to you through a complex network of pylons and substations and charge you for the privilege.

These days you can bang some photovoltaic solar panels up on your roof and make your own electricity for free. And if you happen to be in an area that supports it you may even be able to sell excess electricity back to the grid through the UK’s system of ‘Feed-in tariffs’ (FITs). Two things you’ll need: a south-facing roof and patience, as it’ll take you several years to recoup your initial outlay.

New bathroom

Costs of £2.5-£6k

A new boiler

£1750 to £2600

A major tick for new buyers and you will enjoy the savings on bills.

Double glazing

£500-600 per window

Benefits of lwer heating ills and improved security.

 

 

 

 

 

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