One of the most profitable home improvements is installing a new boiler, according to new research. Fitting a £2,000 boiler adds £8,000 to the value of a property – making a huge £6,000 profit.
A new boiler was knocked off the top spot only by a wind turbine. Off-street parking, charging points and security were amongst the other profitable improvements but others, commonly associated with increasing the value of a home, such as new kitchens, bathroom, extensions and double glazing proved costly with a negative return on investment.
GoCompare and property expert Henry Pryor who conducted the research, have advised home owners to invest in security and energy saving upgrades and buy a bucket, sponge and cleaning materials rather than making significant cosmetic changes if they want to make a profit on their improvements.
Profit now and later with a new boiler
Signs you need a new boiler...
Regardless of the profit you make – its most important to ensure your boiler is safe and fit for purpose.
* Source: http://www.energysavingtrust.org.uk/home-energy-efficiency/boiler-replacement. Figures based on installing a new A-rated condensing boiler with a programmer, room thermostat and thermostatic radiator controls (TRVs) in a gas-heated home from an older boiler with a programmer and room thermostat. Based on fuel prices as of April 2018 for a detached house.