GoCompare Home Insurance have teamed up with property expert Henry Pryor to identify the home improvements that give the best and worst returns. They have produced their Property Investment Calculator to guide homeowners on spending their money on the best improvements – those that actually add significant value to their property.
Of the many improvements considered, installing a new boiler generates the greatest profit, as shown in Figure 1 below. This is in addition to the huge savings achieved by reducing oil consumption due to higher efficiency, as detailed in our guide Replacing Your Existing Oil Boiler with an Ultra-Efficient Model Can Save Over £20,000.
Figure 1: Profit Generated From Different Types of Home Improvement [Source: GoCompare Home Insurance]
Interestingly, common home improvements, such as a new kitchen or bathroom, do not generally increase property value by the full installation costs and so are, essentially, unprofitable. In contrast, a new boiler will add much more value to a property than the installation cost. That’s because home purchasers really value home improvements that save money, such as energy costs.
We believe that an oil boiler replacement is a ‘no brainer’ for householders looking to add value to their property and substantially reduce energy bills. You can achieve payback in a matter of months while enjoying the substantial savings and benefits over many years. To get a free quote for a replacement oil boiler, please contact us now. We provide oil heating services to households across Cambridgeshire, Norfolk, Suffolk, Lincolnshire, Rutland, Northamptonshire and Bedfordshire.
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