Investing In Your Property

26/09/2014

Invest in your home with K.J. Hill Builders in BedfordInvesting in property is one of the best ways to protect yourself financially, and has become a way of life for many families in the UK. Throughout the economic turmoil of recent years property has remained a sound investment, all be it a long term one. But you don’t need a limitless pile of cash to buy up every property in the area; by carefully adapting your existing property you can ensure that you’re increasing its future saleability and/or value.

There are many different ways to invest in your property, from smaller updates such as improving insulation, which can have a significant impact on your energy bills, or larger alterations such as a house extension, loft or garage conversion, a granny annexe or even a complete new house if you have the land for it! Look at what you have available and what opportunities present themselves for you to increase the value of your home – either in terms of comfort or monetary value.

Outbuilding Conversions
Starting outside, do you have any outbuildings that could be put to good use? Depending on the size and location, existing outbuildings can be converted into office space, a studio or workshop, a granny annexe or even a new home. Having extra usable space is a real asset for a property and is likely to increase the value of your home. It could also generate you a regular income if you’re able to convert an outbuilding into a work space that you can use or hire out, or a living area that you can rent out either long term or as a holiday let.

Loft and Garage Conversions
Before you look at house extensions, do you have unused garage or loft space? Loft conversions and loft extensions provide a unique space to use as a master bedroom, office, gym or play room. Converting a dark, unused space into a light and airy feature for your home will add value and provide you with much more space for your needs. Your loft may be full, and yes you will need to find space to store some of your things, but I’m willing to bet that a lot of it you will never use again. Why not have a clear out and donate to your local charity shop or sell your unloved items to someone who will make use of them? Car boot sales, eBay and Facebook are all good ways to do this.

Converting a garage will also make a great difference to the available space in your home. Whilst garages often appear high up on people’s priority lists when they’re looking for a new home, they’re very rarely used to keep a car in, especially if the house comes with sufficient driveway space. A more useful asset would be a room with lots of neat storage space. This means you can store the important things, but you’re not so tempted to hold onto something “just in case”. Just in case what exactly?

A garage conversion can have many different uses, from extending an existing room such as a kitchen or living room, to providing a whole new room for work or play. You’ll wonder what you ever did without it!

Extensions
If you live in a desirable area then extending your property so you have more space, and differentiating it from every other house in the street, is a great way to potentially add value.  You don’t need to extend a property by much to make a big difference to the feel of the home, especially if you extend more than one storey. A garage conversion and first floor extension over it will create valuable space in a family home, and could add to its value.

If your extension is designed and built to a high standard, and doesn’t negatively affect the proportions of your home, then you can see a good return on your investment. Designed and built poorly, with no thought to how it fits with the overall house could leave you out of pocket with a house that suits nobody.

Smaller Investments
If your budget doesn’t run to major investment, but you’d like to make some improvements we would recommend improving your insulation, there are a number of ways this can be done, but Monocouche render is one you may not have considered. Of course, good double glazing and doors will also keep you nice and snug over the winter, and should also result in reduced energy bills.

There are many ways to invest in your property to create a better family home or to increase the sale price. If you’re not planning on moving, then we would usually recommend you consider what changes will add value to your way of life, rather than what will improve the value of your home. If they are one and the same, and you have the budget to support it, then it almost becomes a no-brainer.

Like any investment it’s important to get professional advice, and when it comes to the building side then experienced local builders can smooth the way with professional consultants such as architects and surveyors. A feasibility consultation and detailed proposal can then move the build forward with confidence through to completion, and unlike many builders we are happy to do the lot, leaving you with a finished extended and decorated new home – until you want to sell and realise your investment.

 

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