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Increase the value of your home - build or extendArticle Summary: Once upon a time, investing in property was a sure-fire way to makemoney, but as the property market has slowed down over recent years,homeowners need to be wise about how they maintain and improve theirproperty in order to make money from it as buyers are becoming moredemanding.
This article is part one in a two-part series on making home
improvements.
Once upon a time, investing in property was a sure-fire way to make
money, but as the property market has slowed down over recent years,
homeowners need to be wise about how they maintain and improve their
property in order to make money from it as buyers are becoming more
demanding. There's a wide range of upgrades that can be made, from
large-scale property development to a spot of DIY. A great deal of
capital will be required for the former and isn't a realistic option
for many people, but self improvements needn't cost the earth and if
done well can make a big difference to property value.
A word of warning though: you won't always get back what you put into a
property - you'll need to spend your money wisely in order to make a
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There are numerous ways in which to increase the space in your
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may also have to be altered to ensure that it can support the windows
that will be fitted. Fire safety is another aspect that must be
considered - materials must be fire-resistant and the space must be
designed so that there is a suitable escape route. This will affect the
design of the staircase, doors and windows. To be on the safe side,
it's best to employ the services of an architect or structural engineer.
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Think about how the extension will affect the existing space before
making any decisions. If the garden is very small, the finished house
will be completely out of proportion to the plot and may reduce its
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If you're daunted by the prospect of having major building work done,
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large bedroom could be divided into two, or an ensuite toilet could be
added. Make sure that you don't end up decreasing the actual living
space though. Dividing an existing bedroom in order to create an
additional one will not add any value if the two new rooms are too
small - in fact, it could end up decreasing the value of the property.
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Whatever you decide to do to your home to increase its value,
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Do your research - find out whether the work will be worth the
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Work out a budget in advance.
Only do what you can afford - don't overstretch your finances.
Author: Benedict RohanWebsite: Rohan works as a freelance finance writer. Commercial Mortgage, Homeowner Loans, Remortgages.
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