Research from Standard Life Bank shows that a growing number of people are choosing to ‘do up’ their existing home, rather than move to a new property.

With relatively high mortgage rates, the new Home Information Pack, moving costs, stamp duty and the all important hassle factor, it does make perfect sense to make the most of what you’ve got. And of course it can add significant value to your property.

Not only are people looking at renovating bathrooms or putting in a new kitchen, but are considering more sizeable renovations - such as a loft conversion or an extension.

So if you are looking to invest in property but don’t fancy buy to let or haven’t enough money for a commercial property, why not look a little closer to home?

The higher mortgage rates seen during 2007 made it increasingly difficult for would be house buyers to get on the property ladder. This has aided the buy to let landlords as more people look towards renting a property rather than buying.

Despite slowing capital gains, the average buy to let investment  will have yielded a 21% return in 2007, thanks to rental increases of 19%, three times 2006 levels. Even with such increases, renting still proves to be cheaper than buying, with the average rent being only two-thirds of the mortgage costs on the same property.