The most cost effective way of adding value to a home is maximising existing space, one expert believes.
Loft and cellar conversions are two of the most profitable routes of adding value to a property, although the cost of home improvement work has not gone down over the last year, according to a representative from Homebuilding & Renovating magazine.
Jason Orme, editor of the magazine, also suggested that extensions can help to increase value.
"The thing really is about maximising space, rather than necessarily refurbishment," Mr Orne explained.
He added that Victorian or Edwardian houses could particularly benefit from extensions, as they often have small kitchens.
His comments come after a study by HSBC found that the potential rise in a property's value, due to home improvement work, has dropped in the last year.
Despite this, 52 per cent of Britons plan to complete renovations during this year's Bank Holiday weekends.