Householders plan home improvements over bank holidays

While many people have been heading abroad or organising street parties over the Bank Holiday weekends, 40% of house proud Brits plan to keep themselves busy making home improvements, according to a survey by leading mortgage provider HSBC.

The HSBC Home Improvement Survey found that householders across the UK are spending the Bank Holidays redecorating rooms, laying new carpet and giving their garden a makeover before the summer months.

Top ten most popular home improvement jobs over the April/May Bank Holidays:

1 Redecorate rooms
2 Minor repairs (eg paint chips)
3 Repair fences & gates
4 Repaint/varnish front door
5 Re-carpet rooms
6 Lay decking or patio in garden
7 Install new bathroom
8 Install new kitchen
9 Insulate cavity or solid walls
10 Install new windows

However the research, which questioned property valuation experts, also revealed that while many homeowners hope that the work will increase the value of their home, several home improvements add little or no value to a property.

Householders redecorating their property will improve the value of their home by on average £3,229 - a 62% increase since the last HSBC Home Improvement Survey was carried out in 2009. However, 35% of valuers believe that redecorating a home, while making the property more appealing to prospective buyers, would not add any value at all.

The valuation experts deemed a loft conversion to be the best way to improve a property's value - increasing the value by on average £20,876, a 54% increase since 2009. A room extension will add around £16,000, while a conservatory will boost the value by more than £8,200.

Stuart Beattie, Head of Mortgages at HSBC, said: ‘The Bank Holiday weekends are a great opportunity for homeowners to make improvements to their properties. Householders should primarily do the work with the aim of creating a home they can live in and enjoy as there is no guarantee of increasing property value.'