Egg loans says homeowners should consider loft conversions

Homeowners keen to increase the value of their properties often undertake the wrong home improvements according to new research released to day by online bank Egg.

Average UK homeowners could improve the value of their home by almost £25,000 after costs by carrying out estate agent valuers' top two recommendations of a loft conversion and a room extension.

Conversely homeowners' top two choices, of a new kitchen and bathroom, would add on average only £7,000.

Andy Deller, director of banking and insurance, Egg, commented: "Homeowners making improvements to their homes to increase their value seem to be missing out on the most valuable additions.

"With many people borrowing money via either a loan or remortgaging, it's essential that the work carried out genuinely increases the property's value."

The table below lists the improvements homeowners say they would carry out first, in order to increase the value of their property. To contrast these consumer views Egg also polled 110 estate agents from across the UK for their recommendations based on the average home in their area.