13 December 2016

Growing Your Assets: Home Renovations That Are Always Worth The Hassle

As a homeowner, you have a valuable asset. Investing in bricks and mortar is often one of the best ways to protect your future, and boost the value of your estate in the long-term. Buying a house can often make financial sense, but there are usually things you can do to grow your assets. If you’re searching for ways to enhance the value of your home, here are some renovations that are always the hassle. 

Extensions
Nowadays, there’s a growing market for properties that offer spacious living areas. If you extend your home, you open yourselves up to a larger market, and you can make your home stand out from the crowd. Extending is also a great way of adapting your home to suit the changing needs of your family. If you’re preparing to welcome a new baby, for example, you don’t always have to consider moving. A single or double-storey extension could provide you with the extra space you require. The profit you could make by adding an extension will vary depending on the build cost, and the sale price. It’s always beneficial to get a number of quotes from building firms before you make a decision and to ask estate agents to estimate the difference an extension could make. 


Loft conversion
Is space in short supply? Are you desperate for an extra bedroom, a playroom or a work area? If so, consider converting your loft. If this is a viable option, you could make money, as well as solving your space dilemma. Research suggests that a loft conversion can increase the value of a property by up to 20 percent, so it’s a worthwhile investment if you get it right. Do your sums before you commit, and compare quotes. If you can’t afford to pay for the project outright, consider options such as homeowner personal loans. If you’re a homeowner, you can often get preferential rates. You’ll be taking on debt in the form of the loan, but you’ll also be investing in your future. 


Kitchen remodel
If you asked a group of buyers about their priorities, most would put the kitchen at the top. Today, many buyers are looking for a large family kitchen. If your kitchen is dated or cramped, this can make the difference between losing an interested buyer and sealing the deal. Sometimes, redesigning the kitchen is a purely cosmetic project. You can swap units and surfaces for modern versions, and add some on-trend touches to bring the room up to date. In other cases, there may be the option to enlarge the space or change the layout. If you have limited space, and your kitchen is next to a separate dining room, for example, it may be possible to open up the space and create one larger room. 


We all want to protect our assets and make sound investments. If you’re a homeowner, it’s often possible to grow your money by adding value to your home. Renovations may seem like a hassle, but they often make financial sense. If you’re thinking about the future, consider these options. You’ll not only have a new and improved home. You’ll also make money in the long-run.

No comments:

Post a Comment