How To Reap The Rewards of Home Improvement!
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By: Timothy Frodsham
With many people unable or unwilling to sell their properties thanks to falling prices, thousands of Brits have turned to improving their homes in order to add value or make them more attractive to potential buyers. An improving range of remortgage rates is helping more and more people redecorate and refurbish their homes, making them nicer to live in as well as increasing their value.
Many people then, are now able to apply for a remortgage which they have been unable to do for sometime due to the market conditions. By remortgaging, you are able to release additional funds, as well as obtain ap potentially cheaper mortgage product.
So, if you're planning to refurbish or refit your home in the near future, shopping around for the best remortgage deal is vital.
And you don't have to spend huge amounts in order to add value to your home with home improvement products. A lick of paint, new home furnishings and so on can significantly increase the likelihood of your home being sold in the future, as it makes the property look fresh and looked after, which can attract many more buyers than a rundown property or a place in need of updating.
So, if you are looking to add value to your property, it's crucial that you undertake the right improvements. A popular way to make a property more attractive to buyers is to refit the bathroom and/or the kitchen. An old or worn kitchen or bathroom is a major turn-off and will damage the value of your home. This is because buyers will factor in the cost of refitting these rooms when deciding what to offer.
Make sure your new fittings are modern, stylish and have a broad appeal. And, make sure you don't overspend on the work. For example, adding a bespoke ?50,000 kitchen to a small terraced house is highly unlikely to add the same amount to the value of your home.
Extending the property is another option. You can add additional rooms, bedrooms or increase the space in existing rooms. By doing this you could add en suite bathrooms to existing bedrooms, which can add a huge amount of value. Or if you have a small kitchen, you can make it more spacious which will make the property far more saleable.
It is also important that you weigh up the pros and cons of such work. For example, whilst an extra bedroom may be useful in a family area, your garage might actually be more valuable if you live in a location where off road parking is at a premium.
Increasing the storage space in your home can also be valuable. You are likely to have all sorts of unused spaces that might fit shelving units or a cupboard. Make sure you utilise every last bit of space under your stairs and in corners of all of your rooms.
The final way to ensure you maximise your property's value is to ensure that you repair any major defects. Buyers will be put off by the potential cost of replacing central heating, rotting windows or old fashioned boilers and so make sure you deal with any of these issues before your home goes on the market.
Author Resource:->??Timothy Frodsham writes for JustRemortgages.com one of the UK's top sites for the latest remortgage rates and best remortgage deals.
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Source: http://www.nextlevelarticles.com/Art/375550/226/How-To-Reap-The-Rewards-of-Home-Improvement.html
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