4
Oct
New bathrooms and kitchens 'add value to homes'
Fitting a new kitchen or bathroom to a property remains a reliable
way of increasing the value of a property, it has been
claimed.
According to Robin Hood-Leeder, deputy of membership services at
the Federation of Master Builders (FMB), buyers acknowledge that
these represent significant investments and are consequently
prepared to pay more for the property to avoid having to pay out
for the improvements themselves.
He said: "They are the things people first look at. Sometimes in
estate agents' windows they will not show you pictures of the
house, but they'll show you pictures of the kitchen and then the
bathroom.
"I suppose it's because people recognise that these are where the
big expenditures are. Unless you're extending your home, the big
money goes in to the bathroom and the kitchen."
Mr Hood-Leeder's comments come after a recent survey from
Nationwide showed that, although location remains key to the value
of a property, the addition of a new bathroom and bedroom can add
as much as five per cent to its price.
