With today’s low interest rates, static house prices and rising living costs, new research revealed today shows that home improvement could be one of the best investments you make.
Studies conducted by research and consulting organisation YouGov, on behalf of Bathstore, shows how improving your home really does add value to a property. From a poll of over 2,000 UK consumers, on average a £1,560 bathroom added £8,010 to the price a consumer would be willing to pay for a property, delivering over 5 times return on investment (£5.10 for every £1 spent).
The bathroom also delivered a significantly greater return than any other room.
Room | Cost of room (to the nearest £10) | Value added (to the nearest £10) | Return on Investment |
Bathroom | £1,560 | £8,010 | x5.1 |
Kitchen | £4,110 | £13,610 | X3.3 |
Bedroom | £1,450 | £4,080 | X2.8 |
The research was launched in conjunction with The Big Price Drop campaign, introducing permanent reductions on over 1,300 bathroom products.
In addition, the research also showed that:
· Over a third of people (35%) said they had put off doing home improvement in the last year, with nearly half of homeowners (48%) worried about the costs involved.
· Across the UK, 20% said a lack of expertise was also an issue when it came to home renovation, particularly in the East of England, which recorded 26%.
Miles Shipside, director of Rightmove commented: “The quality of the bathroom is right up there on a buyer’s wish-list so adds lots of value and appeal. When they are home hunting on the internet they expect to see internal photos, and a well-photographed smart bathroom will be a great asset that will generate extra buyer interest and help sellers get a better price”.
A Bathstore spokesman said: “For the first time this research really does demonstrate the value that a new bathroom can add to your property. It won’t be a surprise to many that re-inventing a room can increase the amount buyers are willing to pay for a property, what will be a surprise is how much of a financial return it can actually make. With our Big Price Drop commitment we are aiming to increase this return, as 85% of our range is permanently lowered in price, offering great value to our customers all year round.”
Together with excellent service and advice, The Big Price Drop delivers the best ever value across our extensive range of quality products. And the new Price Match Guarantee means it won’t be beaten, so there’s no better deal anywhere else.
Click here for more details of The Big Price Drop
Click here for more details of the Bathstore Price Match Guarantee
Click here to visit the Bathstore website
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