13th November 2015
A property purchase has led to more than a new home for one in 10 people who have discovered cash in the attic.
More than a quarter (27%) of Britons didn’t bother to check the attic when purchasing a new home but nearly on in 10 people have found an item in their attic they didn’t know was there that is worth £1,000 or more.
The average value of gems found in British attics comes in at £348, according to a survey by Confused.com.
Nearly one in five people found items in the attic left by the previous owners.
Some of the gems discovered include a Bakelite telephone, a recording of Churchill talking, antique Troika pottery and an original Beatles LP. Old football programmes, stamp collections and first edition books have also been unearthed.
In fact a book of rare Chinese stamps was recently found in a Cotswold home, where they had been gathering dust in the attic for more than 100 years. They are now set to fetch £250,000 at auction.
Most people have a good idea of what the items in their loft are worth and the average person is storing £653 worth of stuff in there. However, 5% of people have attic contents worth £2,000 or more.
Although the attic is mostly used for storage in British homes, 17% want to use the space for conversion into a living area and 6% of homeowners have already done so.
An attic conversion can be the best way to add value to a home, adding as much as 20% to the value.
Gareth Lane, head of home insurance, said: ‘The attic has traditionally been a place in the house that no one sees, however as this research has shown many homeowners have uncovered unique treasures by rummaging through their attic, and in some cases those items have been worth thousands.
‘However, these hidden valuables are contributing to people undervaluing their home contents, leaving many homeowners vulnerable to hidden loss if they become the victim of theft or damage to the home.’