House prices, according to LSL Property Services PLC, hit a record low in the UK for the past 18 months last month. Although this is evidently a negative indication of the property market, it could be a good time to invest in some home improvement to add value to the home in preparation for the future rise of house prices.
Rather than selling a home at the moment, it’s more worthwhile to utilize the space in your current home. Home improvement adds value to your property which will be beneficial for future sales, and make your home more beneficial to you and your family. Home improvement loans can help to aid the costs of a renovation project, enabling you to have the home you desire.
Upgrade your Kitchen
Fitted kitchens can be costly but really add value to your home in the long run. Kitchen fitters specialise in optimal functionality in addition to appearance, allowing you to get the best out of the space you have. If you are planning to sell in the foreseeable future, opt for a classical design which doesn’t require an acquired taste.
Become an Opportunist
Start to look out for wasted space in your house which could be converted into something useful. Cupboards under the stairs can be converted into small ground floor bathrooms rather than accommodating everyone’s spare shoes. Walk-in wardrobes can convert into small ensuites too, which can add significant value, particular when adjoining the master bedroom.
Extend your Home
Extensions are major renovation projects which may require financial assistance. Loan brokers who specialise in loans for bad credit can help people with even the most terrible credit histories. If you decide to extend your home, make sure you apply for planning permission first whether you’re extending outwards, upwards or downwards.
Consider an Annexe
If you’re blessed with some extra space in your garden, consider building an annexe. Not only do they add value to the property they’re also excellent for acquiring an extra income from lodging. An annexe can also be convenient if you have a relative staying with you who requires assistance but still wants independence.
Become a Sustainable Home
If your home has eco-friendly qualities the value can significantly increase. Basic insulation such as double-glazing, loft insulation, cavity wall insulation and floor insulation can add value to your home whilst saving you money on energy bills and adding to the comfort value of your home. Consider renewable energy resources too such as solar PV as an alternative to the national grid. This can add value to your home; is a worthy investment; and will save you incredible amounts of money on your electricity bills, particularly when combined with the Feed-in Tariff.
Written by Stephanie Staszko on behalf of Finance Facility and Solar Choice
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