Home improvements will not add value to the properties.
As the housing market is at a static point many homeowners are unable to move and have been warned not to rush into any major work of home improvements as they could find that they don’t get the result there were looking for to refund them of money spent making the improvements.
Many agents asked have said that many people are looking into doing home improvements to see if it increases there chance of getting a buyer for their property. The Royal Institution of Chartered Surveyors that people shouldn’t look at the market like that as they will find that they will receive no return for what they’ve paid for any maintance and could also still get the same result from current buyers within the market.
Many sellers have thought that making home improvements will raise the price of their property to ensure that potential purchasers place a reasonable offer on the property. RICS are pretty sure that values of properties will not increase if work is done as there is a certain price range that most areas tend to find themselves locked into.
“Many properties provide some potential for expansion and improvement, but we would advise people to think about how much they are investing and their key motivator before undertaking major projects.” David Dalby, spokesman from RICS
The best feature people have found that increases the value of the property is adding another room to the property this then obviously bring more interest in for people looking for bigger properties for a reasonable price. Many people have considered upgrading their property bathrooms and kitchen but this has shown to not prove any different in the amount of interested parties.