If you're thinking of moving, chances are you'll be thinking of as many ways as possible to add some value to your home
That's where this study comes in. Carried out by Anglian Home Improvements, the research investigated exactly what we can do to boost our property's price.
When it comes down to it, UK estate agents revealed that the best thing we can do is make our living space open plan - this will, on average, add a massive £46,503.94 to a property.
The top five home improvements that add value, according to estate agents, are:
1. Making a living space open plan (£46,503.94 average added value)
2. Loft conversion (£24,254.56 average added value)
3. Extension (£6,455.57 average added value)
4. New kitchen (£3,508.92 average added value)
5. Conservatory (£3,155.27 average added value)
This is particularly interesting, as it flies in the face of some of the home improvements that Brits believe add value.
For instance, only two per cent thought that making their living space open plan would be the way to go. There was also a lack of appreciation for the help that a conservatory provides, with homeowners thinking new windows or a front door are better ways of boosting a property's value.
However, there was some crossover - 27 per cent think an extension is the way to go if they want to boost their property's value, while 25 per cent would consider a new kitchen.
The top five home improvements that Brits think add value to their home are:
1. Extension (27 per cent)
2. New kitchen (25 per cent)
3. Loft conversion (15 per cent)
4. New windows (eight per cent)
5. New front door (seven per cent)
However, while the research highlighted what improvements are likely to boost the value of a home, it's interesting to find these aren't necessarily the features that house hunters are after.
In fact, over one in 10 people will focus on new windows, despite it being one of the cheapest renovations to make. It's also interesting as estate agents revealed it will, on average, only add £1,672.73 to a property's value.
The cheapest home improvement is getting a new front door, yet this is a change that is more appealing to the younger generation. Nearly one in five (18 per cent) of 25-44 year olds are more likely to prioritise a new front door when they look for a new home, in comparison to only 2 per cent of those who are over 45 year olds. This is, perhaps, driven by a desire to boost the curb appeal, yet estate agents say this will only increase the property's value by £769.86 on average.
Costas Kariolis, Head of Digital Marketing at Anglian Home Improvements, said: "We all have an idea about what helps to sell a home, but it was interesting to see how accurate these opinions really are. While some renovations, like creating an open plan living space, add lots of value to a home, other features, such as garage conversions and new bathrooms, are less profitable investments."
"It’s important to keep in mind exactly what people are looking for in a new home. Curb appeal should always be maintained and adding new windows is a great way to impress potential buyers or tenants."