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JUNE 2015 HOME IMPROVEMENTS THE SENSIBLE LONG TERM INVESTMENT

03 June 2015

 

 

The change in season, the brighter, longer days, turn our thoughts to our homes and what we  can do to improve them, to create the home we really want and need.

If we have a list of home improvement projects that we would like to undertake it is worth considering what value they add to your property when prioritising, which one should come first.

But what are the best 'value for money' home improvement projects?


In areas that are popular with families, near good schools, local shops and parks, homes with more bedrooms (or /and)larger living areas will always be in demand.
The price of adding a bedroom through garage or loft conversion varies but in general the value added to the price of your home far out weighs the financial outlay; approximately adding up to 20% the value of your home.

A recent survey conducted by WHICH magazine, results published in February edition 2015, pages 48-49, concluded that though the initial value of adding a single storey extension 'may leave you out of pocket, over time as property prices increase you should get your investment back ' if not a substantial profit.

WHICH also found that by adding a two-storey extension, creating more living space plus an upstairs bedroom could increase the overall value of your home by 12%, But they advise to 'marry up, the number of bedrooms with an appropriate size of living space, essentially ensuring that your property is balanced.

For example:

It would be inadvisable in a street of two bedroom houses with a small living room to add a loft conversion, a garage conversion and a single storey bedroom extension, as with the existing living space and the surrounding house prices, the price of your five bedroom home would be kept down, thus the return on your investment would be minimum.

S&D offer a comprehensive building service; from first contact we offer you our expert advice on your planned project, ensuring you get the balance layout for your home so you optimise the return on your investmentin the future.

The WHICH article found that the installation of a new bathroom gave the least return on your financial outlay with only a 2% in added value: But at S&D we feel that a new bathroom is a big plus when it comes to convenience, comfort and attractiveness of your hom. A beautiful bathroom can 'seal the deal' when trying to sell your home, so the value of updating should not be under estimated.

S&D also felt the 4% return on a kitchen installation was a rather meagre estimate of added value; As in our experience, a kitchen extension (if designed for streamline usage and comfort of dining,) can be the hub of the home, the place everyone congregates; If the kitchen is bright, warm, roomy and modern, this is a huge attraction when buying a home.

WHICH considered building a garage a less certain return at an unsteady 2%-6%, even though one third of estate agents surveyed felt it was in the top five of good investment builds?

 

Which Table j

S&D would advise that if you are considering a new garage, it is important to weigh up the advantages to you personally, ( lower vehicle insurance, off road parking, no key scrapes or broken windows, less chance of theft, no scraping ice in winter or clearing snow.) A garage provides a secure, dry place for storage, tools and toys, bikes, outdoor furniture, if these attributes are of value to you and would make your life easier then of course a garage is a great investment.

Home improvement projects as an investment do vary but in all cases if you need an extra bathroom or a bigger kitchen, the benefit to you or your family on a daily basis is priceless.

Extending is a great investment as discussed but the other points to consider are:

  • 'Building up or Building out'  if your family desperately needs more space but does not want to move, love your home and the area your in, friends, near family, children are in great schools, ( saving your family the distress of moving.)
  • The savings you will make in NOT paying Tax on a bigger property
  • The inconvenience of looking for a suitable property and Estate agent fees
  • The upheaval of moving, the time and the costs
  • Having to decorate and make the new home yours

S&D will arrange a visit with one of our friendly staff, who will discuss your proposed project, advise and help you through every step the process if you choose to go ahead, a FREE quotation with No obligation

 OUR NEW PAVING CENTER

WHICH magazine placed installing a Driveway or an additional parking space as one of the quickest ways to add value to your property, especially if you are in an area where parking is a problem.

If you live near schools, busy shops, churches, chapel or other frequently used amenity, you may find street parking a problem, so it would be of great advatage to install a driveway or parking space, with up to an estimated 20% return on your outlay, it is defenitely worth it !

S&D know very well that the installation of a new driveway is great value for money as it can totally transform the look of your home. Our pavers have been doing just that, creating attractive, low maintenance, very convenient entrances to our customers homes, with years of experience and quality materials, all guaranteed, see more information on our 'Happy customers' in our 'Testimonial' pages or in 'Notes' on our Facebook page.


S&D have finished our new Paving showroom at Fernleigh Road, Merrylee, Giffnock ( a stones throw from the Arnold Clark showroom.) At last we have an area we can showcase our stunning products and our paving techniques to the public.

Pop in our friendly staff there will be happy to show you around.

 

 

 

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