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Topps Tiles survey: Which home improvements add most value?

Over the May Bank Holiday weekend more than a third of Brits will be starting DIY projects around the home - but a new DIY survey has revealed most Brits don’t know which home improvement adds the most value to a property.

A survey has found three quarters of Brits don’t know which home improvement adds the most value to a property. 75 per cent of those surveyed by Topps Tiles failed to identify a loft conversion as the home improvement that adds most value, which adds on average £20,876 to the total value of a home.

Most of those surveyed thought fitting a new kitchen would add the most value, with 52 per cent of respondents placing it in their top three improvements. Adding an extension or conservatory was the second most popular answer at 38 per cent, followed by putting in a new bathroom at 33 per cent.

Top 5 home improvements for adding value (HSBC):

Improvement / Average Increase in Property Value (2011)

Loft conversion: £20,876
Extension/Conservatory: £12,151
New Kitchen: £5,617
New Windows: £5,265
New Bathroom: £3,351

The data suggests that men are slightly more clued up on what adds value to a property than women. 29 per cent of men correctly identified a loft conversion as the home improvement that adds most value compared with only 19 per cent of women. Fewer women also thought building an extension would add the most value, with only 33 per cent of women placing it in their top three compared to 43 per cent of men.

The survey also reveals how many DIY enthusiasts are cutting corners when it comes to jobs needing to be done around the home. A third of men admitted to tackling plumbing jobs themselves rather than hiring a professional, and over half of respondents admitted to never reading an instruction manual or how-to guide.

A spokesperson at Topps Tiles said:

“It’s interesting that three quarters of those we surveyed had no idea that converting their loft would significantly increase the value of their home. Most respondents were under the impression that having a new kitchen fitted would add more value than adding an extension or converting a loft.

“As a general trend, women tended to think that improving the interior of their home would add the most value, whilst men tended to opt for home improvements that create more rooms and space.

“It’s also a bit concerning that over half of respondents admitted to never reading an instruction manual or how-to guide – reading these may be a good starting point to ensure you don’t have a DIY disaster this bank holiday weekend!”

Source : Topps Tiles
www.toppstiles.co.uk/comms-centre/news_item.asp?news_id=321

03 May 2012
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Thank you for the excellent presentation that you gave at Woodbury Park on Thursday morning. It was very interesting and thought-provoking for our Retail members. The feedback has been excellent.

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Martin Elliott. Chief Executive - Home Hardware.
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