Home renovation is a big step, and it is you have to be transparent with your motive before taking this step. There are many aspects of planning your home renovation such as financial, post-renovation value, space issues etc.
Prices of homes vary from place to place and its surroundings. Before you plan to renovate your home, you should consider the pre and post value of your house depending upon the current market value.
Do not get attracted to invariably high prices, in fact, study the market prices and then decide to get your house renovated.
You can also seek help from an estate agent and get your house valued at the current market price. Ask for help in a way that will be the change or increase in price if you get it renovated with an additional bathroom or an extended porch.
To get more innovative ideas, you can visit new-built homes and see their construction. You can get ideas in terms of infrastructure, space, the technology used etc.
A massive amount of finances may be required before you start with the renovation. Many lenders provide unsecured personal loans to help you. You can borrow loans from the market and proceed with the process.
Factors to determine your home renovation
Before you decide on your home renovation, you can consider the following factors to help you determine the right direction.
Improvement areas in home renovation
When you have professional help, you can ask for the improvement areas and work upon that. Look around your house and look for the areas that need renovation/ extension or an improvement.
Accordingly, you can prepare a budget and work upon that. You may have to spend more than £1000 for just the kitchen, or £2000 would be sufficient for the whole renovation depending on your house’s current condition.
To know the exact costs for the renovation, you can refer to various online websites that give you the precise amount of your home areas. It is advisable to take any decision only when you have at least 3 expert advice for your home makeover.
Look for buyers
Your house location is a significant contributor to your home renovation. You have to consider your surroundings.
A three-bedroom with an extended porch will be a good idea if you have a well-reputed school near your house rather than having a three-bedroom home near a school which doesn’t have a good reputation.
Also, think about people’s choices and preferences surrounding your neighbourhood. You have to analyze people’s choices as to what will they buy.
Will they prefer a three-bedroom apartment with a single bathroom or a 2 bedroom apartment with 2 separate bathrooms? Will people choose a small living space or a small kitchen with a spacious living room?
Another good option is basement conversion for adding up more space to your premises.
If you stay in an area with good families and schools around, making an extra bedroom and a small garden can be a good investment. Since families can take pout their children and have a good time with them.
It is essential to know and understand the buyers’ needs in your vicinity and the local area. Many people, who stay far away, wish to get their parents, so an annexe can be a good option and help increase your home’s value.
It is essential to consider the hidden costs while you are getting your home renovated. You cannot live while it is in the process of renovation.
You have to consider the costs involved in staying somewhere else while the work is in progress. You must find alternative accommodation for your family before work gets started.
Along with the rent, you also must keep other expense in mind such as the bills, food, medical etc.
Investing separately in various areas of your home can be lucrative such as a remodelled garden, a high-tech bathroom, or a lavish living room.
Instead of looking at it as separate areas, consider the overall impact that it will have on the house value. Look at it from a buyer’s perspective and then maximize your spending on different areas.
This way, you will be able to save your money, effort and time in future simultaneously increasing your home value as well. You can consider the following spaces:
- Extensions: Do not think extension in terms of just space; consider it in terms of light as well. You can think of increasing the windows’ size or making new windows to give it a more spacious look.
- You can also think of roof lights to increase the natural light in your house. Instead of adding lampshades and artificial lighting, you can focus on maximizing natural light in your house to make it more attractive to the buyers.
- Kitchens: Build your kitchen in a high-tech way. These days, everybody uses tabs and gadgets for cooking new recipes and adding flavours to their food.
- Considering the increasing use of technology, you can create a gadget space in your kitchen with more sockets, USB, and charging points.
- Doors and windows: Do not make them complicated. Keep the designs simple.
- Flooring: You can go for hardwood flooring as it is a timeless beauty. You can consider the pet factor also while designing your flooring.
- Heating upgrade: The heating system is an integral part of your home renovation. Incorporating a multi-fuel stove in your house can add super value and make it buyer-friendly.
Maintain a balance
Always remember to maintain a balance in your house in terms of rooms, bathrooms, and kitchen. Maintain a ratio between the rooms and the bathrooms, which can be a crucial factor for a buyer.
Be careful with your home areas. Putting an expensive high-tech kitchen can be a misfit in your simple house. You should think carefully and seek expert advice before planning your home renovation.