Choose renovations carefully

Renovation is more popular than moving home among the British public according to independent global property consultancy Knight Frank.

Luke Pender-Cudlip, from the firm''s Wandsworth office, said that people are becoming more inclined to spend money on home renovations.

He said: "Basements and loft conversions and side returns are all popular ways of people avoiding moving house."

However only some types of revamping are acceptable because overspending, over-personalising and making homes "top heavy" will decrease the property''s value according to Mr Pender-Cudlip.

Avoid overspending because even a highly done-up house cannot become attractive if it is in an underwhelming street.

Having an extension on the top part of the house so that it looks top heavy also puts buyers off the property.

People are being put off moving house because of the costs being high in terms of stamp duty, plus agency and legal fees.


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