So, you have a little cash surplus and you want to spend some of it on your home. Your aim is to increase the space or facilities within your house but also to add value to it. There are so many options that it can seem hard to make a choice. However, if you talk to builders in Cheltenham who specialise in extension and renovation projects, they will give you some definite ideas about the best options. Here are 5 to help you make a decision.
One of the top items on the list is always the kitchen renovation, though with a word of caution. If you are planning to sell your home, then balance the money you spend with the increased chance of selling the property. For example, you can spend thousands on a kitchen and it might not increase the value of your home by the same number but it will increase your chances of selling the home for the price you want. Most builders say that you can recoup anywhere from 60-120% of the outlay if you are clever about what you spend.
Another key point in selling a house and increasing its value is the bathroom and that’s why it is as popular as a kitchen renovation. Bathroom renovations can see you recoup around 80-130% of what you spend in some cases, especially if the bathroom was showing its age before. You might also want to consider adding bathroom space as part of the project – it is surprising how a small space can be transformed into an additional bathroom or toilet room.
Extending the home
Figures on how much an extension can add to your home are very variable due to the many factors involved. But there’s no doubt that adding extra space is always a benefit to your house price and the home’s sell-ability. Working with a builder will get you ideas that are within the planning permission rules and can add a substantial amount of space to the home.
Converting the loft
Some experts say that converting a loft can add 9-10% onto the value of a property so bear this in mind when looking at how much it will cost to renovate. Some lofts aren’t well suited or there is a massive amount of work to be done in order make the space usable. But for other homes, loft conversions are simple and can make a substantial extra area.
Reinventing a room
Sometimes you don’t need to add a room to create new space in the home and reinvented a room can add value and appeal to the house. This can range from converting a basement or cellar if the house has one to changing the layout of bedrooms to add new space or make existing rooms bigger. People seem to prefer larger rooms so if you have two small bedrooms, it might be worth considering making them into one larger one, possibly with an en-suite bathroom added.