Today – The potential value of home renovation
The potential value of home renovation
Over the last couple of year we have really outgrown our home. My work form home business has taken off and a corner of the kitchen to work in is no longer enough. The children are heading into their teens and my my daughter’s teeny bedroom is just not big enough. We need to make some significant changes.
But what should those changes be?
We frequently question whether we should renovate rather than move but remain unsure as to whether or not it is worth it.
Moving house can be so expensive though it is definitely worth considering the alternatives.
This great infographic looks at the potential value of home renovation and like me you might be very surprised at the results. It looks at a variety of home renovation possibilities and then gives a breakdown of each type of renovation and its potential return on investment.
I really do fancy an extension..my kitchen would then double in size and oh that would make me so very happy. I would have a huge table and a big central island and I can see it all now!
I would actually like a double story extension and build a new bedroom and possibly an en-suite too. Combining the two could up the value of our property by about 25%! It seems to me as if all the renovations add value and are worth the effort.
Investing in your own property could be the best choice of destination for your money. It really could add a lot of value to your home. It could also make you fall in love with your home all over again..so much so you many not want to sell it after all!
I would be really interested to hear whether you have had the ‘move or improve’ quandary. Or did you indeed improve to move? If you have been in this situation and have considered the potential value of home renovation do leave me a comment below and tell me your story or your thoughts on this. It has actually really made me reconsider our next step. It might well be worth pressing the pause on moving before we assess what we could do to increase the value of our home. It looks like there is actually a lot we could do!