Whenever you consider potential home-improvements for your property, it’s important to measure the cost against the potential return. This is true whether you intend to live in the property or sell it on for a profit, as there are many different types of return available to home-owners.
This is because some home improvements are more profitable than others, whilst market conditions also impact on the effectiveness of modifications at any given time.
In this post, we’ll consider the general advantages of home refurbishments and ask how they can offer value to property owners.
1. They Minimise Limitations Placed on your Home
There are always restrictions placed on your property, due to its location, size and geographical constraints.
Some of these restrictions are less stringent than others, however, whilst there are a select few modifications that can be undertaken without planning permission.
One example is building a single-floor extension that is three metres in length, which will cost up to £14,000 on average and can offer a profit of around £19,750. This equates to an ROI of 71%, whilst it also increases the size of your property and makes it more saleable to potential buyers.
2. They Enable you to Create your Dream Home on a Budget
When most people pursue their dream home, they think about building a brand-new property from scratch. Alternatively, they can restructure an existing property to suit their vision, but both of these options can be costly and require significant planning permission.
In this respect, undertaking small but manageable home-improvements often helps home-owners to strike a delicate balance. More specifically, you can invest in desired modifications over time and according to your budget, helping you to bring your dream home to life through a series of incremental steps.
From re-plastering walls and fitting new flooring to installing a new kitchen, you can completely transform your living space without spending the earth.
3. Add Value to your Property
As we’ve already touched on, improving your home is a great way of adding value to the property and increasing its resale price.
Even smaller modifications such as installing new lighting and adding new doors can add incremental value to your property, whilst also making it much more attractive in the eyes of a potential buyer.
External home-improvements can achieve similar goals, as modifying your front garden can help to wow buyers and create a positive first impression. Similarly, improving your back garden can create a tremendous entertainment space during the summer months, and this is often highly appealing to aspiring home-owners.
Getting Help with your Home-improvements
If you are looking for some help with your home-improvements, PCP Building and Restoration Ltd may be able to provide some much-needed guidance.
Operating in East Grinstead, Tunbridge Wells, Crawley, Redhill, Horsham, Horley, we have more than 40 years’ experience in the plumbing and heating industry whilst we also offer comprehensive home modification services to our customers. We’re Gas Safe registered too, which means that we can handle the installation of new boilers and heating systems.