Conservatory Tax Said to Be ‘Attack on Aspiration’…

The government was forced to rethink the tax after they struggled to take control of the political agenda following the announcement of taxes of charities, churches, the elderly and even pasties.  Under the scheme, homeowners who wished to build a conservatory, install new windows or make various other home improvements would have to also improve the energy efficiency in their homes by investing in such improvements as loft insulations and draught proofing.

There was worry that the new scheme would deter families from wanting to improve their homes.  Instead of being forcing to spend more money on improvements, homeowners should be supported for wishing to improve their homes in the first place.  A spokesperson has said the new scheme would be an attack on aspiration and something that will be blocked.

The senior government figures have said that they are not against people insulating their homes but also that it should not be mandatory.  In fact, making home improvements will not only help reduce carbon footprint but also help homeowners save money on their energy bills.

Find out more about energy efficiency and keep up-to-date on the latest goings-on in the industry on the Double Glazing Prices blog. 

Home Improvements Show Lack of Financial Return…

According to the annual home improvement survey by HSBC, many home improvements no longer show the same financial return as they did a year ago.  Converting a loft will add just over £16,000 to a property’s price: a significant drop in the £20,000+ that would be added to its value just one year ago.  Similarly, a new kitchen adds an average of just £4,577, a loss of £1040 on last year’s figure.

One home improvement which has shown a boost in value is a new conservatory installation.  Adding a new conservatory to a property could potentially boost value by up to £9,420 which is a 14% increase on its average value last year.

Despite the results of the survey, one in two homeowners plan to make home improvements over Easter, May Day and Jubilee bank holidays.

Head of Mortgages at HSBC commented on the recent survey saying “Home owners should think carefully about the type and extent of any home-improvement works they are planning. Those which enhance the quality of life while retaining broad appeal should be favoured over more individually styled alternations.”

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