It looks like Americans aren’t the only ones in a lurch with the housing crisis. Britons are also feeling the heat and are trying to engage in some quick remodeling to turn the tides.
In fact, some recent studies show that as many as 62 percent of Britons took on home improvement projects to boost saleability — including off-road parking, installing new gardens, and building apartments over garages. The Telegraph has more
For example, creating off-road parking will cost you as little as £650, but could earn you in excess of £10,000 if you choose to sell. Putting in a landscaped, family-friendly garden will cost £900 and can earn a savvy seller £6,000. However, before you reach for the hammer and spade, it is important to realise that not all renovations will pay for themselves. For example, according to RICS, installing a basement could cost you £50,000 but might only make you a measly £4,000 when you sell. While reinstating original chimneys and fireplaces might seem like a great way to bring back period features, it does not add any additional value, according to RICS.
Find more about Home revitalization at Remodel Tree.
Filed under: garden, parking lot
