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What to think about if you’re renovating your home

You’ve likely run into the same position as many current homeowners and fancy sprucing up your living space a bit. Needless to say, in recent times, we’ve all been at home a little more than we’re used to, so home renovation projects have become increasingly popular.

But, if you’re planning on renovating or extending your home, there’s a few things to take into consideration first. Whether you’re looking to make a long-term investment and add value to your property, or just simply want to have a bigger kitchen, home improvements shouldn’t be taken lightly.  

We’ve put together our top tips on things to consider when renovating or extending your home so you can sleep soundly knowing you’ve made the right decision.

1. Make room for a home office

Do you work from home? Or do you spend most of your time in the office? If you’re spending the majority of your time working from home, then the environment needs to be fit for purpose.

Home studies, garden offices, and separate work from home spaces are now in demand by most buyers. So, if you’re thinking about extending or transforming an existing room, you should consider a space for home working.

Things to think about: Try to look for opportunities to use extra space. Clever design can be used to make cross functional spaces, such as a desk in a corner, or one that lifts out from the wall.

2. Kitchens are the heart of the home

Open plan living has been a popular trend in recent years, with open plan kitchen and dining areas being particularly sought after.

The kitchen is often the focal point of the home, so when it comes to renovating or extending, paying close attention to this part of the house can add serious value to your property. Updating a kitchen is no easy feat, so it’s important to take your time and design your space correctly.

Things to think about: A multi-purpose, spacious kitchen adds value to a home, and one that opens out onto an outdoor area is also a big tick for buyers.

Things to think about when planning a kitchen redesign include whether the area has enough space to socialise, entertain, and relax, whilst providing all the necessities for cooking and dining.

3. Make the most of your outside space

A renovation project high on the wish list for many homeowners is having an extended, and improved, outside space.

There are lots of things you can do to transform an outside space, whether that’s adding garden furniture, hanging garden lights, or even just potting a few extra plants. Many people consider gardens an extension of the home, so if they’re presented as beautifully as indoors, it will certainly help with curb appeal.

Don’t forget about the front garden too, if you have one, as this is the first thing potential buyers will see!

Things to think about: If you have any outside space at all, no matter how small, presenting it as an extended, welcoming space can help present your home as a desirable property to future homebuyers if you’re looking to sell.

A nicer garden won’t just add value, and improve your saleability, but you can enjoy it too!

4. Make your home more functional

A lot of focus in renovating or extending can be on the aesthetic side of things, but it’s also crucial to consider adding value to your home by updating what you already have. For example, the central heating system or plumbing if necessary. A well-functioning insulated home will be of much more value in the long term.

You might even want to consider eco-friendly additions like solar panels or a biomass boiler, as more environmentally friendly homes become a consideration for home buyers.

Things to think about: We know they might not be the most glamourous of renovations, but sometimes prioritising substance over style can work wonders for improving your home’s value. So, which functional renovations add the most value to your home? Smart home technology, cavity insulation, solar panels, and double glazing all help improve your home’s energy efficiency rating which can save a lot of money, and add a lot of value, in the long run.

Needless to say, making sure there are no structural issues with your home is really important if you’re trying to add value to your home. Even if you’re not selling anytime soon, it’s probably a good idea to prioritise fixing structural issues before carrying out any home renovation project. After all, a beautiful open plan kitchen diner, and the best home gym in the world, won’t matter too much if the ceiling falls through…

5. Consider who you’re selling to

If you’re thinking of renovating or extending your home, it’s worth considering whether you’re increasing or decreasing the desirability of your home for the resale market. For example, if your area has lots of first time buyers, creating a spacious ‘family home’ could make the property too expensive for them to consider and then alienate this group entirely.

Things to think about: Every target market has different wants and needs – whether it’s for a young family, or a retired couple, and while these are generalisations, it’s useful to consider who is most likely to buy your property in the future. Take the time to consider how the whole home will be enjoyed by your potential resale market when you’re considering your renovation or extension. This will ensure that not only will you create a home you will love, but one that also a future owner will love too.

 

There we have it! Keep these top tips in mind ahead of any future renovation project, and you won’t go far wrong.

If you’re looking to understand how much value you could add to your home through a renovation, and how you can fund your home renovation project, we’ve created an online calculator which works it all out for you.

All you need to do is tell us a few things about the project you have in mind, and we’ll tell you:

  • The estimated cost of the project
  • How much you’ll have to pay each month (if you choose to remortgage to finance the project)
  • The expected value of your property

If you’d like to discuss any home renovation project, and how you can remortgage your property to afford the renovation, our team are always here to help. You can get in touch with us here.

Because we play by the book we want to tell you that…

Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances.
The fee is up to 1% but a typical fee is 0.3% of the amount borrowed.

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