You are here: Home - Remortgage - News -

Revealed: Top 10 home improvements

0
Written by:
21/06/2017
The most popular home renovations could boost the value of your property
Revealed: Top 10 home improvements

Homeowners are splashing out on new bathrooms more than any other home improvement, according to Gocompare.com.

The comparison site found that nearly two in five (39%) homeowners who carried out a major home improvement in the last five years opted for a new bathroom.

The next most popular renovations were new kitchens (38%) and a new boiler or central heating system (34%).

Top 10 home improvements in the last five years

1 Installed a new bathroom 39%
2 Fitted a new kitchen 38%
3 Installed a new boiler or central heating system 34%
4 A garden make-over 26%
5 Installed double glazing 26%
6 Built an extension 17%
7 Knocked through rooms 12%
8 Fitted solar panels 12%
9 Created an attic conversion 10%
10 Added an extra bedroom 9%
 
Insurance warning

The research also revealed that 41% of those carrying out renovations did so without telling their home insurer, which could invalidate their cover.

Matt Sanders, home insurance spokesperson for GoCompare explained: “While you don’t need to inform your insurer about routine decorating or maintenance, you should inform your provider if you’re planning on carrying out any major building or renovation work, otherwise you could risk invalidating your policy. 

“When planning a major renovation project, one of the first things you should do is to review your buildings and contents insurance to make sure that you have adequate cover both during and after the work has been completed.”

Most home insurance policies don’t cover tradesmen or their work, so you should always check that they have their own insurance in place. It’s also sensible to check that any tradesmen you employ are qualified to carry out the work and registered with a recognised governing body.

Sanders added: “Remember, after completion of the work, you may need to increase your sum insured to reflect any increase in the rebuilding costs of your property and any increase in the value of your possessions.”

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Comments are closed.

How much can you borrow?

A calculator designed to help you understand how much you can borrow towards your property

Your Mortgage Guides

Guide to Offset Mortgages

Download our handy guide to offset mortgages, brought to you in partnership with Scottish Widows Bank

Read More >

Are you on the right mortgage product?

See how much you could potentially save by remortgaging to a different product
Read previous post:
2269462-money-in-hands
Wealth inequality ‘rising again after decade-long fall’

Wealth inequality in Britain is rising again after a decade-long fall, according to a report. Rising home ownership fuelled a...

Close