Garden makeovers fail to impress buyers

While the popularity of gardening shows continues to grow, viewers gaining inspiration from Charlie Dimmock and Diarmuid Gavin stand to make huge financial losses. A garden makeover can cost up to £6,000 but homeowners will only see the value of their property rise by 10 per cent of their outlay, according to valuation experts at The One account Ltd, the current account mortgage provider owned by the Royal Bank of Scotland.

Central heating and double glazing are also bad investments for people keen to push up the price of their home. A new heating system costs between £3,000 and £6,000, while fitting double glazing costs between £4,000 and £15,000, but the property’s value is likely to increase by only a quarter of the cost of installation in each case.

According to the valuation experts at The One account, building a garage or an off road parking bay is now the top investment to increase your property’s worth. And with recent research showing car parking is the biggest cause of rows between neighbours, a garage is also the key to a harmonious home. A garage costs between £15,000 and £40,000 to erect but the outlay is likely to be recouped in full - and perhaps even more in London.

The One account’s adding value improvements’ from worst to best:

- Garden makeover costs £3k - £6k and recoups just 10%

- Double glazing costs £4k ad £15k and recoups 25%

- Central heating costs £3k - £6k and recoups 25%

- Conservatory costs £5k - £25k and recoups 40%

- Electrical wiring costs £2k - £4k and recoups 50%

- Under-floor heating costs £2k - £4k and recoups 50%

- Kitchen refit costs £2k and recoups 50%

- Rear or side extension costs £7k - £20k and recoups 60%

- New bathroom costs £7k - £20k and recoup 75% plus

- Loft conversion cost £15k - £30k and recoup 75% plus

- Garages / off street parking bays cost £15k - £40k but can recoup 100% plus

And some home improvements turn off potential buyers, including external rendering or cladding, a swimming pool, paving over the front garden, PVC fascias, timber effect laminated flooring and fitted bedroom furniture.

Despite some improvements proving to be a better investment than others, The One account warns there are no magic formulae to increasing the value of your home. It advises seeking professional advice from surveyors or estate agents before carrying out home improvements.

More and more One account customers are now using their current account mortgage to cover the cost of home improvements, by taking advantage of the One account’s lower mortgage-style interest rate, rather than a personal loan.

The One account’s communications manager James Duffell said: “There are no guarantees, but making the right changes can improve the saleability of your home. But it’s much safer to make improvements for your own satisfaction, not because you think they’ll add to the value of your life and home. You’ll enjoy your home more and any commercial gain is just an added bonus.

“And for people with an all-in-one account the low mortgage style rate of interest on their borrowings means that it’s even cheaper to finance their home improvements.”