Most Profitable Home Improvements & Other News

The most important news and developments from the self build sector
by Build It magazine
21st August 2019

The most profitable home improvements are revealed

According to research by Hiscox, the number of homeowners opting to improve rather than move has increased by 12% over the past five years (representing over four million UK households).

Undertaking a full kitchen renovation stands to add £12,442 (5.5%) to your home’s value, while adding a loft and kitchen extension will net you an extra £23,754 (10.8%). An additional bedroom can also increase a property’s worth by a whopping £25,338 (11.2%).

Learn more with our 12 Ways to Add Value to Your Home 

Self build scheme set for approval in Cornwall

Plans for 14 new homes, seven of which would be self build, in the Tamar Valley area of outstanding natural beauty in Cornwall are set for approval after receiving a positive recommendation from planning officers.

The planners took an enlightened approach, feeling the degree of landscape harm would be slight – and that it would be outweighed by the social and economic benefits the development would bring to the village and the wider area of south-east Cornwall.

71%

of Brits think all new properties will come fitted as smart homes by 2030, according to research conducted by blinds company Duette.

Out of 2,400 people who took the survey, over two thirds felt smart tech could improve their standard of living, agreeing this is the main reason for implementing such technology into a house.

Only 6% of respondents, however, currently control heating, lighting or other aspects of their home via a smartphone app.

New finance scheme launched for renewable electricity

The government has announced an initiative to provide payments to homeowners and businesses for new installations of solar panels and other electricity-generating renewable tech.

From 1st January 2020, the Smart Export Guarantee (SEG) will legally oblige all energy suppliers with more than 150,000 customers to introduce at least one tariff for energy that gets exported to the national grid.

Providers can set their own fair rates anywhere above zero, and initial indications suggest rates of around 5.5 pence per kilowatt-hour (kWh). The scheme replaces the old Feed-In Tariff (FIT), which paid out on both generation and export, but closed on 31st March this year.

The SEG won’t be available to customers who already benefit from FIT payments. Find out more on page 81.

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