Home improvements

When it comes to making changes to your home, there are plenty of options that can not only make your living space more enjoyable, but could also increase its value. Making improvements to your home could make it more attractive to prospective buyers, whether they are small changes, such as replacing windows and doors or larger projects such as loft conversions, converting a garage or adding a conservatory.

Even if you don’t plan on selling your home any time soon, it’s good to know how you could add value to your property, and the cost of doing so needn’t break the bank.

Due to the coronavirus pandemic, we are now spending more time at home than ever before. As a result, people are finding themselves with more time, which has given them the opportunity to think about ways they can improve their home or finally begin those home improvement projects that they have been intending to start on.

We explore the different home improvements projects that could add value to your home.

Small home improvement projects:

Re-decorating:

Redecorating is one of the most popular home improvements people tend to complete. This may be because decorating trends often change and they can be done at a relatively low cost.

Freshening up your home with a lick of paint and completing some general maintenance can be a small but a rewarding improvement, especially if you are looking to sell your home.

Replacing windows and doors:

Having updated windows and doors can create a great first impression, which is particularly important if you are intending to sell your property. The outside of your home can say a lot about the rest of the house to viewers seeing it for the first time.

Double glazing is now considered essential for many buyers, and making this home improvement will likely increase the value of your property.

Garden improvements:

An attractive, tidy and well-presented garden can add a great deal of value to your property.

Creating more privacy (if needed) can be a quick win to improve your garden area. Adding fencing would add the feeling of seclusion which would likely appeal to prospective buyers.

Having outdoor seating areas is important to allow for entertaining and relaxing during the warmer seasons. This could be achieved by adding decking or a summer garden, which creates a bigger useable living space.

Large home improvement projects:

Large conversions:

Many people choose to convert their loft area as a means of obtaining more space without having to endure the process of moving home. Loft conversions can be built for many different purposes, such as adding an extra bedroom with an en-suite bathroom or creating a multi-purpose room with a living room area and a home office.

Whilst loft conversions are a bigger and a more expensive way to improve your home, they can pay off considerably. The Home Owners Alliance estimates that loft conversions can add up to 20% of value to a property.

Installing a new kitchen:

Kitchens can often be the focus for many buyers as they can be expensive to replace.

For many, this room is the heart of the home, where the families can come together, which is why kitchen renovations are one of the most popular home improvements people make.

Consider replacing outdated appliances with energy-efficient models, updating countertops, and installing new cabinet hardware. An inviting, contemporary kitchen can be a major selling point for your property.

Extension:

Sometimes there comes a point where a household wants or requires more space in a home, and building an extension will likely add a great deal of value to your property, whether you extend your living area or add an extra bedroom or bathroom.

The number of bedrooms in a property has a big impact on a property’s value. According to a recent survey conducted by Nationwide, which analyses the value of home improvements, shows that adding a double bedroom can add more than 10% to the property value.

It is important to note that adding an extension can be an expensive project, and you may need planning permission. However an extension can be more practical for people as oppose to moving homes.

Are you looking to borrow money to fund your home improvements?

While many home improvements can be DIY projects, some might require the expertise of professionals. For major renovations or structural changes, it's a good idea to consult with architects, contractors, or interior designers. They can provide valuable insights and ensure that the work is done properly.

If you are considering taking out a secured loan to make home improvements and would like to discuss your options with a qualified advisor, call us on 0800 032 3737 or complete our enquiry form and we will call you back at a time convenient t for you.

If you are thinking of consolidating existing borrowing you should be aware that if you are extending the term of the debt you may be increasing the total amount you repay. All loans are subject to status, and appropriate lending terms.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.