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Homeowners pick improving over moving

Posted by Sinks on 27th Jun 2017

Written Property owners dreaming of the perfect kitchen are giving up on moving and are instead improving their own homes.According to Homebuilding and Renovating magazine, people are putting off moving to concentrate on doing up their own homes.As well as fitting new kitchens, adding extensions and loft conversions, improvers are concentrating on their own tastes rather than renovations that can potentially add value and appeal to potential buyers.Jason Orme, editor of the property magazine, said In a market such as this, I would argue that kitchen extensions and remodeling schemes dont add that much value and certainly wouldnt payback the outlay on them. People need to be convinced they are doing this for themselves. People are moving away from looking at property as a cash making venture and people are now thinking about improving their homes for themselves.He added that this can inadvertently increase the value of a property as homeowners are willing to spend more on fixtures and fittings such as kitchen taps and appliance as they think they will be living there for longer.Mr Orme was speaking after research from Sainsburys Bank revealed that Britons took out 4 billion in home improvement loans over the course of 2008.ADNFCR-1321-ID-19038877-ADNFCR