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Brits opt for home improvements to add value

More homeowners than ever before are opting to fork out on home improvements in the hope of adding value to their property, according to research from Halifax.In the last year, a quarter of all homeowners undertaking home improvements did so specifically to add value to their home - up from just seven per cent last year - with over half believing the work would add up to £5,000 in value of their property. First-time and younger buyers were the most likely to be doing refurbishments, in order to add value to their property in the hope of selling and moving up the property ladder. Kitchens, extensions and loft conversions were thought to add the most value, but redecorating and garden improvements were the most commonly undertaken. Patrick Sawdon from Halifax Valuers commented on the findings: "Our research shows that Britain has become a nation of movers and improvers. "It's great to see that so many people are investing time and effort in improving their home. "A word of caution though, poorly executed home improvements can actually detract from the value of your property. "If you're considering embarking on major work, do consult the professionals and seek any necessary planning permission before getting started."

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