More and more money-savvy UK residents are saving pennies without stepping outside their front doors as valuable home improvement projects become increasingly popular.
With icy cold winters and rising energy bills squeezing more cash from the wallets of many homeowners, there’s plenty of scope for saving a few pounds thanks to some smart methods which could put value on your property.
Analysis of property listings by Post Office Money revealed that home improvements can add as much as £40,000 to the value of UK homes. Such home improvements have increased the price of properties from an average of £210,000 prior to the changes to around £250,000 afterwards – an increase of 19%.
Double glazing is one of the obvious ways you can save money and keep your home at the right temperature all through the year. The main advantage of double glazing is that it regulates your home’s temperature so it will be warmer in winter and cooler throughout the summer months. In the short term spending money on double glazing may set you back a few pounds but the added warmth will save you money on your energy bills in the long term.
conversions are another popular option with an investment in utilising the
available space making money for many homeowners. According to Nationwide
survey, converting your loft could add an average of 21% to the property value,
or around £63,000 if the home was valued at more than £300,000 before the
Adding a conservatory onto your home can also hike up the price with the added space and open view of gardens making it more attractive inside and out. Property company Savills has stated that a conservatory could add up to 10% to a home’s value; that’s £20,000 on a £200,000 home.
Another home improvement is insulating your loft if you already have one – a sure-fire way to save money on your heating bills, keep warm and most people find they can do this themselves with the right materials and some basic DIY skills. Research from the Energy Savings Trust shows that insulating your home can save up to £215 a year. The research showed that a third of the cost of heating a home is lost through walls, and insulting them is the best way to save energy. Insulation of lofts can save hundreds of pounds, with the initial costs also being low.
Less well known but equally important when it comes to saving cash in the home is pipe lagging. This is a special type of insulation which is fitted around water pipes. The specialist insulation keeps heat within the pipes and also stops pipes freezing and bursting. The lagging can also prevent condensation forming on older pipes. Pipe lagging is becoming more commonly used in Britain to insulate central heating pipework and as a pipe insulation in loft spaces to prevent freezing.
Clearly spending a little money on these home improvement methods can enhance the quality of your home life as well as saving you a few quid in the long run.