Our homes are our most valuable commodities. The majority of our savings go towards deposits and mortgages. On top of which, these are the best security nets we have to provide for our children. It’s not surprising, then, that most of us are willing to do work in an attempt to increase the value of that investment. There may be a lot of money tied up in your house already, but any profit has got to be a good thing.
Lucky for you, there are many ways to add value. Of course, you have to put money in to get more out. And, we don’t all have extortionate amounts to plough into improvements. Which is why we’re going to look at a few of the cheapest ways you can increase your value.
A new room
It shouldn’t come as any surprise that incorporating a new room is about as good as it gets. By doing this, you can increase value by up to 30%. It’s a massive sum. But, there’s no real cheap way to create a new bedroom. You could, of course, embark on a DIY attic conversion using pointers like those found on https://www.harveynormanarchitects.co.uk. Doing things yourself stands to save you a lot of money, though bear in mind that there will be some costs for materials and such. Plus, this opens the way for costly mistakes.
If you aren’t willing to risk it, you could always find creative ways to finance this. That way, you wouldn’t be out of pocket in the present. By turning to companies like the one found at https://www.selfcertremortgages.co.uk/bad-credit-remortgages/, you could remortgage your house for the money you need, even if you’re in bad financial shape. The value you add to your house would more than cover the cost down the line.
If your budget can’t quite stretch to a whole new room, you could always renovate instead. Though the increase isn’t quite up to the giddy heights of a new room, this could still make a difference. And, a renovation is a much easier job to handle on your own. Some things, such as plumbing and electricity, should always be left to professionals. But, you’d be fine to do most other jobs with a little research. You could even fund materials for cheap by heading to online selling sites and buying second hand. Kitchen renovations are by far the most valuable, but bathrooms are a good idea, too.
The right decoration
To keep costs down, it’s also worth focusing on the cheaper steps you can take. It’s not only grand gestures which will increase value. Paying attention to your decoration choices could also make a difference here. Crumbling paint is never a selling point. Plus, not keeping on top of this could lead to pricey issues such as mould, which reduce value drastically. So, head to sites like https://www.homebase.co.uk, and stock up on paints at least every two years or so. Try, too, to opt for styles with universal appeal.
Categories: Real Estate