With house prices continually rising, even as the UK economy veers towards a downturn, many homeowners will be thinking about how they can safeguard their wealth. In many cases, the easiest way to do this is to put it into your home, thereby preserving (or bolstering) its value.
But exactly how can we do this? Let’s take a look at a few reliable methods.
Update the Appliances
If the appliances in your home are looking a little world-weary, then replacing them with modern equivalents might be a good idea. This doesn’t necessarily mean that you have to shop for the best appliance available. You’ll pay a hefty premium for shopping at the very top end of the market, and the investment isn’t typically reflected in the ultimate value of your home.
Upgrade the Garden
If you’ve allowed your green space to grow a little bit wild, then restoring a little bit of order might be a great way to improve its value. Back garden fixtures like outdoor cooking facilities might add considerable value, especially if they’re presented as part of a well-planned outdoor living space. Think outdoor decks and other fixtures. Make sure that your plan for the garden is cohesive, rather than simply bolting things on at random. Come up with a budget, and make sure that you’ve accounted for all of your materials – including smaller things like tile adhesive and tools to carry out the renovation.
Consider adding a basement
If you’re looking to add a basement to an existing property, then you might find that you’re spending tens, or even hundreds, of thousands of pounds. As such, it isn’t a popular upgrade for most homeowners. However, if there’s already a space downstairs, you can convert it to make it habitable for a far more modest sum.
Update your Bathroom
Adding bathrooms to your home is a great way to add to its value. Adding an ensuite might be workable, especially if the space is available – or you might decide to move an existing bathroom upstairs.
If your bathroom is going to stay in the same place, then you’ll be able to devote a larger chunk of your budget to upgrading it. Pick out the best fixings you can, and build the bathroom around it. When it comes to tiling, you should be aware of what the space might look like after it’s been lived in: larger tiles mean less grouting, which means easier cleaning. Mosaics might look great, but only if you stay on top of them.