As you may know if you are a regular reader of family budgeting we are in the middle of a home makeover on a budget. We have so far just updated the lounge and got our playroom /conservatory ready to be painted. Huge amounts of decluttering have been going and it is looking neater and more organised as a whole.
If I was to value it now compared to a month ago I would certainly give it a higher value. By the end of summer we hope to have painted/refreshed the whole house. This should make it much more appealing when we come to sell it.
I am not naive enough to thing that superficially and cosmetically sprucing it up will be enough to hugely increase the value of our home though. I have watched lots of TV renovation programmes that really seem to suggest if you paint everything white and clear the clutter release the smell of coffee and bread and pretend you have no kids/dogs then your house will hugely increase in value. Are home buyers really that easily duped?
I do believe an extra bathroom would make an extra toilet difference to our house or even extending the kitchen which I am sure we would be able to do. banks and building societies such as the Newcastle Permanent Building Society offer all sorts of loans from home buying to home renovation. I would need to be sure any investment in the property would more than increase its value before I took out any kind of loan though.. I guess the first step would be to talk to an estate agent about this and perhaps have them pop around.
It feels risky to me but people invest in home improvements all the time don’t they I guess it’s having to wait to see a return on your investment that I feel a little anxious about. I do like the idea of a downstairs loo though..I would never have to worry about tidying upstairs in case visitors drop in!
My biggest worry about investing in a downstairs loo would be loss of storage space . I guess that would demand I declutter even more! I will be the queen of decluttering!
Have you made any significant home improvements to you home? Has it increased in value as a result? I would love to hear your story.