Making home improvements doesn't have to be stressful, our team are here to help you every step of the way. This handy guide will help you understand what you should consider when planning a home improvement project.
Why make home improvements
With the cost of moving home and house prices on the rise, for many families and homeowners it is making more financial sense to improve instead of move.
The cost of moving is at a record high - so investing in your current property is a smart decision. Not only can you create a more functional or enjoyable living space, but you will also add value to your property at a fraction of the cost of buying and moving to a new home. By carrying out home improvements you may avoid the need for a costly or stressful move by increasing the ‘live-ability’ of your property.
Plus, if and when you decide to move in the future, you’ll have minimised the price gap between your current house and the next step up on the housing ladder, making moving a little bit easier.
So what do you need to consider before making home improvements?
Things to consider:
With all home improvements, planning is key. Try to set a budget with an element of contingency to be on the safe side and talk to one of our experts to understand how realistic your budget is.
You’ll also need to decide what you need extra room for, and different types of improvements lend themselves to different purposes. If you’re looking at adding extra space think about whether you want an extra bedroom (which a garage conversion or extension), or a bright open living space that may be better solved with a conservatory or orangery.
Beware of the 'ceiling price'
The ceiling price is the maximum price you can expect to achieve based on similar properties in the local area. Before spending large sums on home improvements, evaluate whether the cost of the changes will be recouped within the future sale price of your home.
Improvements should be proportionate to your home and its value so bear this in mind when deciding the kinds of changes you’re looking to make. Extensions will cost more than a garage conversion or conservatory for instance, so understand how much you should be spending on your home to ensure you can regain the cost if and when you decide to sell.
Funding home improvements
If you use savings to cover the cost of your planned home improvements you could find that the resulting increase in your home’s value could be more than the interest you would have earned by having the capital in a savings account.
If you don’t have savings to fund the work, our simple payment plans can help you achieve the improvements you want with a low monthly cost. For example you can convert your garage from, only £85 per month!
Agree on a realistic time frame, but remember there may be unavoidable delays, caused by bad weather for example. Your Tyneside Home Improvements project manager will run through this with you to ensure you know exactly where you stand from the start, and will keep you updated along the way too.
We have helped thousands of homeowners across the North East to improve instead of move – making their homes more liveable, practical and enjoyable. We have a range of offers and flexible finance options available too so it’s even more straightforward.
Call us today to find out more and receive a free, no obligation quote.