Bathrooms - Bathroom renovations ''used to add value''

27/05/2008

UK homeowners are turning to DIY projects such as renovated bathrooms to add value to their property, new research suggests.

A survey by Halifax has found that 28 per cent of homeowners are planning to carry out improvements to their property, to add value in the face of a flattening market.

Installing a new bathroom has been ranked as one of the most popular renovations that homeowners undertake, with 21 per cent choosing this option.

Some 15 per cent of homeowners expect the new bathroom to increase the value of their house by up to £2,500, while 39 per cent think it will add between £2,500 and £10,000 and 29 per cent anticipate more than £10,000 added.

Russell Galley, head of mainstream mortgages at Halifax, commented: "In the current market, homeowners can inject value into their homes by undertaking the right home improvements.

"Carrying out work on your home can be rewarding but costly to correct if not executed properly."

Previous research by Halifax suggested that UK homeowners spend £173 million a year repairing damage caused to their property by neighbours' botched DIY projects.