22nd Oct '08 - New Rules 'May Increase Home Value'
Posted on Wednesday, October 22nd, 2008 at 11:29am
Changes in planning permission rules mean that people who are unsure of moving house in the current economic climate may want to consider adding an extension instead, it is suggested.
The new rules mean that those wanting a loft conversion or a rear extension - which may be covered by a loan - no longer need planning permission, so long as they keep within certain guidelines.
"You could add a couple of rooms on, go up in the roof, or can refigure the interior, make a big room into two smaller rooms. You can maybe put a little en-suite into a bedroom area," comments Andrew Leech, director of the National Home Improvement Council.
Such changes may be paid for by a homeowner loan, a move some may want to consider after hearing that 92 per cent of members of the National Association of Estate Agents believe that adding an extension can potentially increase a property's value.
And the new planning permission rules came into affect on October 1st.
Those looking to add value to their home may consider secured loans to pay for an exntension, which could come with a lower annual percentage rate than other loans.
The new rules mean that those wanting a loft conversion or a rear extension - which may be covered by a loan - no longer need planning permission, so long as they keep within certain guidelines.
"You could add a couple of rooms on, go up in the roof, or can refigure the interior, make a big room into two smaller rooms. You can maybe put a little en-suite into a bedroom area," comments Andrew Leech, director of the National Home Improvement Council.
Such changes may be paid for by a homeowner loan, a move some may want to consider after hearing that 92 per cent of members of the National Association of Estate Agents believe that adding an extension can potentially increase a property's value.
And the new planning permission rules came into affect on October 1st.
Those looking to add value to their home may consider secured loans to pay for an exntension, which could come with a lower annual percentage rate than other loans.
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