Research from the One Account shows that home owners are abandoning the aspiration to emulate the rich and famous and are turning back to traditional money making favourites.

So, according to them, out go hot tubs, swimming pools and his and hers sinks in bathrooms as we return to basics to add value to our biggest investment.

The survey carried out by the mortgage lender The One Account reveals that we all have an inflated expectation of how much value our improvements will add to our homes. For example we seem to believe a luxury Jacuzzi or pool will add in excess of £10,000, but the survey found that in reality it adds nothing - yes a big fat "zero".

So what is hot at the moment to add value? Well according to One Account's valuers;
1 A garage or off street parking
2 An extension
3 Loft conversion

However, we have to remember that surveys do not always tell the whole story and they need to be considered alongside real life.

The problem about translating greatest returns on investment into what we should do is that the investment vehicle is also our home so there is the "lifestyle" factor.

Lifestyle in this instance relates to what you want to do to your home to increase your enjoyment of it. What can you do that will enrich your life? Experts call this the utility factor and you need to weigh cost against benefit and time to enjoy.

If you are going to be in a home for 10 years and an alteration, that you want and will enjoy, costs £2,000 but adds no value, the utility cost is £200 a year or 55p for every day you use it. If you consider that whatever you do is worth the cost of a newspaper a day then it is good value – to you. However, if you intend to stay in the house only 2 years the same alteration costs £1000 a year or £2.74 per day and you might not think it is worth it.

There is another factor to consider if the alteration does not add any value it might add "wow" in the eyes of the future purchaser and while they will not pay more they might ask for a lower reduction because they really want your house and the sale might be quicker. How much is it worth to you to sell your house in 3 months instead of 6?

For example, I have always liked 2 sinks in a bathroom, I have no idea why maybe its an age thing. Ages ago I extended the master bedroom and built an on-suite bathroom. As I liked 2 sinks the additional cost, around £350, was acceptable and I had them fitted.

Did it add any value – no.
Did we "enjoy" having 2 sinks – yes.
Did it sell the house quicker – yes, the purchaser fell in love with the en-suite and that sold my house.

The moral I think is do what suits you and balance your lifestyle requirements against best value and if you want an ornate garden pagoda and can afford and it will enrich your life then do it. But remember to add the garage at the same time!!!

Anyway back to The One Survey the full results were;


Rank

1. Garage or off street parking

2 Rear or side extensions

3 Loft conversion

4 Conservatory

5. Kitchen refit

6 New bathroom

7 Double glazing

8 Central heating

9 Underfloor heating

10 Swimming pool

11 Jacuzzi

12 Sauna

13 Sunken baths or gold plated accessories

14 Ornate garden pagoda


The other thing the survey found was that the biggest turnoff for buyers was poor quality workmanship, extensions that clash with the existing property and stone cladding.
The survey got that right then.