- Wednesday, 13 May 2009Britons hoping to add value to their home in order to clear debt elsewhere could find DIY is not the solution.
Research from HSBC has revealed that home improvement projects may offer no debt assistance - and could make things worse.
The financial services provider explains that the typical cost of many projects outweighs the added value they put on to a property.
Fitting new carpets is least likely to help clear debt, with almost half (49 per cent) of property valuation experts seeing no increase in the worth of a home after this is done.
Redecorating is also largely unlikely to help, as 44 per cent of valuers expect no increase in the house's value.
For homeowners looking to add value as a means of debt assistance, simply decluttering could be the best option.
Some 91 per cent of experts and 76 per cent of the public believe this can help increase the asking price of a property.
HSBC recently noted that first-time buyers' access to property has been given a further helping hand with an extension of the stamp duty "holiday" until the end of 2009.
Recent IVA News23% of first-time buyers save for five years to raise a depositWed, 04 May 2011
Brits dealing with Finance Management should shop around for car insurance Wed, 04 May 2011
Parents, including those with Finance Management, advised to start saving for children's weddingsTue, 03 May 2011
Newlyweds may be in need of Finance Management plans after overspending on weddingTue, 03 May 2011
Renting rather than buying may be an option for Brits with Finance Management Thu, 28 Apr 2011
Consumers coping with Finance Management may want to shop around for cheap energy tariffsWed, 27 Apr 2011
Increasing number of Brits turning to loans for home improvementsWed, 27 Apr 2011
Brits, including those with Finance Management plans, to spend £267 on Royal Wedding Tue, 26 Apr 2011
Equity release can be used to 'become debt-free'Tue, 26 Apr 2011
| |
Money Debt and Credit Ltd, Registered in England & Wales No.05588842.
Registered Office: 45 Clarendon Road, Watford WD17 1SZ
Consumer Credit Licence Number: 0580960