6 Ways To Improve Your Home

With interest rates at rock bottom and a stock market that people are understandably wary of and inflation heading to five per cent, the only way to protect your wealth is to invest in your own home. Remortgaging to finance value-adding work to bathrooms, kitchens and lofts is the easiest means of financing renovation or extension projects.

By remortgaging, you can often obtain a better interest rate than your existing or previous mortgage, and you can also take additional funds. That way you'll have the cash to improve your living standards by developing your property and you'll also be increasing its appeal and value if you ever decide to sell.

Redoing The Bathroom: It's so simple to redo your bathroom and you don't have to completely refit it. You could just add a lick of paint and a new floor to add value. If the suite is old though you might want to consider a new one which doesn't have to break the bank.

New Decor: Giving your home a new lease of life through new decor is often cheap, and can make a dramatic difference to the look and value of your home. Abbey Mortgages did research two years ago which showed that what you spend can add 3x that amount to your home. So if you spend £5000 redecorating all of the rooms you can add around £15,000 value to your home, so it's well worth the money.

Conservatory:-The conservatory is now a standard feature in many UK homes, for a country not always blessed with great weather, it is an ideal way of bringing the indoors and outdoors together. The effect that a good conservatory can have on a home is very powerful, especially when it comes to sale prices. The trick is to allow a conservatory to flood the ground floor with natural light.

Swimming Pool: OK so this one isn't for everyone, but adding a pool (which can be inside a conservatory area) if your home is large enough can really add a lot of value. You can expect an increase of around 15% to the value of your home - but only if you have the space. If you end up taking up most of the garden to put one it that is more likely to decrease the value.

Kitchen Refit: A new kitchen is often one of the first things that many people do to add value to their home, and it can add just under 10% to the value of your property so it's a good investment. Just remember not to overdo it on smaller homes. Often just replacing the cupboard doors and getting a new oven can add value without all the cost. A new floor will also add value - just a few tiles or laminate flooring won't break the bank. Doing the work yourself will also save a lot on costs if you feel you are competent enough.

New Windows and Doors: Getting new windows and doors put in can save energy due to the retention of heat, but it will also add significant value to your property. Make sure that you get plenty of quotes before settling for a price though as prices can vary greatly depending on the fitters. Also try and get a recommendation from a friend to make sure the job will be well done as a botched job is just money down the drain.

Converting the Attic: Increasing the usable space in your property can add value straight away. A loft conversion can mean adding a bedroom to the property which of course will increase the value dramatically. So this is another good one to think about - and you can even turn it into a 'bedsit' and let it out to a lodger for some extra cash!

So there you have it - some great ideas on how to add value to your home by getting a remortgage and improving areas of your property. It may be a little time consuming, but it will be well worth it in the years to come!


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Timothy Frodsham writes for Just Commercial Mortgages the UK's No.1 site for the latest commercial mortgage rates and commercial property finance news.