After a long fallow period for the housing market, prices have risen sharply, and for many that means that the decision of whether or not to move is pretty much made for them.
More and more people over the last two years have decided to carry out work on their current property rather than move to a new one, as moving is simply not affordable. This surge in home improvement is about more than simply insulating a property or getting a new door fitted though, it’s about adding value and style to a home – freshening it up for that day when it might get put on the market.
In fact, research carried out by the Halifax banking group this year suggests that 33% of people choose to carry out home improvements for the sole purpose of adding value to their home. If you can’t afford to move and want to make your investment in property work harder for you, improvements are clearly the way to go. The same research suggests that 44% of homeowners are planning home improvements or have discussed it with company’s who are able to carry out the work.
Of course, the type of property you live in can have a huge impact on the kind of improvements you make. If you’ve got an old period home with spectacular sash windows and other traditional features, removing them in favour of something more modern could actually devalue the house. In this situation, it’s important to note that there are plenty of ways to carry out repairs on wood sash windows and casement windows, or even upgrade them all together, without sacrificing their charm or aesthetic.
After all, most buyers who are interested in that kind of traditional property will likely be looking to make a purchase based purely on these old features – so you wouldn’t want to lose them for the sake of functionality! Many do though, and there’s an interesting post here from the Royal Institute of Chartered Surveyors about ‘crimes developers commit against period homes’ with some interesting do’s and don’ts – naturally, giving up your wood sash windows for something dull and modern is top of their list of don’ts.