One of the most common loans throughout the country, home improvement loans are taken out by many to help maximise the value of both a living environment and the property overall. Many make home improvements to accommodate for their growing family, adding in more living space or an extra bedroom, whereas others will create home offices, workout spaces, or modifications to their kitchen.
Below is a list with the value in which various home improvements can add to a property:
- Extra bathrooms – 10%.
- Home office – 10%.
- Conservatory – 10%.
- Extra bedrooms 11%.
- New kitchen 8% – 12%.
- Loft conversions – 20%.
- Basements 25% – 30%.
Home improvement loans can help homeowners to make valuable improvements to their properties, many choosing to use this type of funding over personal savings or income.