Homeowners can get repair and improvement grants from the Housing Executive in certain circumstances. On the other hand, while you want your house to stand out from the competition, you shouldn’t make unwarranted upgrades that greatly exceed other properties in the area. Not only will you end up losing money, but you may even scare off potential buyers. (For more insight, see Home Upgrades That Don’t Pay) In short, before you invest tons of money in an elaborate full-house renovation project, consider what the competing properties in your neighborhood have to offer. Find out how similarly priced homes in your neighborhood measure up, and make improvements based on your specific marketplace.
My wife and I spent roughly 15 years getting our house exactly the way we wanted it, yet as soon as the paint was dry we both thought, hey, let’s move! Home renovation can induce a form of temporary mental illness similar to what happens to people on roller coasters: You think you’re going to die, but the moment the ride is over you want to go again. Luckily, by the time we had finished the house we were too broke to do anything drastic, and in a couple of months we’d both calmed down. Now another 15 years have passed and we’re still here.
It’s a win-win: reduced energy costs and a tax credit. Even if you do the right kind of projects, you’re not guaranteed a high return on your investment. Before deciding whether an improvement will add value, consider some more general factors. Another renovation project that homeowners tend to underestimate is fence construction. On average, Canadians budgeted just under $4,200 for a new fence, but average actual costs came in closer to $11,700â€”about $39 per linear foot.
Bathroom additions return the most, according to Remodeling magazine’s report â€” an average of 86.4 percent. The addition of attic bedrooms, family rooms and sunrooms returned anywhere from 70 to more than 80 percent of the money spent â€” and that doesn’t factor in the value of your own enjoyment of all that new space. And when you are ready to compare personal loans, make sure you use a service like MoneySuperMarket’s Eligibility Checker. This tool allows you to search personal loans and see which lenders are most likely to say yes to you. What’s more, it’s fast and easy to use and the search won’t leave any imprint on your credit report.
Alterations and additions can sometimes create awkward leftover spaces that are ideal for purpose-built storage. Other locations include room dividers, lift-up trap doors to sealed containers fixed to floor timbers and well insulated pop-out cupboards to replace west facing windows. Be creative with storage and hire a professional company that specialises in innovation.