New bathrooms add £8,000 to property value
Tuesday, 9 August 2011 2:25 PM
Installing a new bathroom could be one of the best ways to add value to your property, research has found.
A study by Bathstore has revealed that, on average, a £1,560 bathroom would add £8,010 to the price a buyer would be willing to pay for a property. This means a return five times bigger than the investment.
Whilst the kitchen and bedroom also added value, the bathroom delivered a significantly greater return than any other room, the study found.
Londoners are willing to spend the most on giving a tired space a makeover, spending around £3,900 revamping a room, with the rest of the country willing to invest on average £2,500.
The research also showed that over a third of people (35 per cent) put off doing home improvement in the last year, with nearly half of homeowners (48 per cent) worried about the costs involved.
Across the UK, 20 per cent said a lack of expertise was also an issue when it came to home renovation.
Nationally, 21 per cent of people said DIY caused spousal spats, with more than a third of households (34 per cent) arguing over home improvements.
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