The arrival of a new Prime Minister has if anything further rocked the stability of the current housing market as the likelihood of a ‘No Deal’ Brexit situation looks more likely even this week than it did last. With the Autumn usually a peak tie to consider a move expert opinion suggests the trend will continue whereby home owners will take a very close look at a refurbishment or new space in the home extension and put off a move or the foreseeable future.
Home-owners will, as the Summer ends, be considering more space with perhaps a modest extension or some considered refurbishment and home improvement all aimed at making home life easier until there is a better time to move.
We at Mint have already experienced good interest on extension projects going into the Autumn as people plan to make their home easier to live in for a while until Brexit sorts itself out and property prices offer a more positive outlook.
Of course, it is vital that any home improvement projects need close consideration to ensure a home extension or improvement doesn’t have a neutral ‘no gain’ effect in any way . We would say, of course, that the planning and careful decision making of any project is vital to ensure that added value advantage will accrue – and money will not invested that can’t be realised when a property is sold in the future.
We at Mint think it is fair to say that as the ‘No Deal Brexit’ row rolls on, added home value may tend not to be immediate, but will we believe be realised at some stage. How far away that time is, will depend on how bad things get Brexit-wise going on through into next year. We, at Mint understand the balance between re-furb and home extension spend and the opportunity to add lasting home value for future.
earliest added value
Very much in people’s minds for sure – and on our mind’s too – is which home improvement projects should people invest in right now and which projects should be avoided in order to be sure ‘earliest added value’ is achieved when any postponed move eventually takes place? Check this helpful schedule of 5 project choices along with some key thoughts and tips found by our Editor online this week.
Most people consider the kitchen to be the heart of the home, and because of this, updates in this room pay off. Statistics from home pricing experts suggest you can expect to recoup 60%-120% of your investment on a kitchen remodel. Remember though you should never make your kitchen over extravagant than the rest of the house, or the indeed the local area.
If you plan on selling your home fairly soon, keep potential buyers in mind before you start on any major kitchen remodel. Certain potential buyers just don’t want to pay more for a home just because it has a ‘whizzy’ kitchen! If you do up the kitchen, get the paint colours right and consider energy saving appliances. Both of these are very much appreciated by buyers who look for visual style and ways to save money when out shopping for a new home.
A Bathroom Addition
If your home only has one bathroom, you can recoup a large chunk of your investment by adding another one. Pricing estimates suggest that you can recoup 80%-130% of whatever you spend adding a bathroom.
When it comes to finding room in your house for an extra bathroom, take a look at any spare rooms or under-utilised spaces. Consider spaces, such as closets or even areas under the stairs. Reference bathroom design spaces – if you want a half-bath you need at least 18 square feet; If you want a full bath, including a stand-up shower, you need at least 30 square feet. Like any project, the cost of adding a bathroom depends largely on the types of additions and accessories you want to use, and the cost of each of these items.
Adding Key Space
Adding more square footage to your home with a new room extension is a sound way to go. You can recoup some of your investment, anywhere from 50%-83%, Keep those home extension project costs carefully in view. We at Mint can guide and assist fully with your budgeting on any extension you have in mind and we can offer various styling and pricing options.
Re-inventing a Room
Re-inventing the existing space in your home is a key way to add value. Consider a basement, or convert the attic to a bedroom if you have such potential available. There might also be a chance of extra space over a garage.
The key is to consider carefully what you need to achieve – we at Mint can help with ideas on the ways that you can use such ‘re-invention’ space so that you can deliver that added value when you eventually sell-up and move on. Things to keep in mind are:- Versatile rooms have greater appeal to potential buyers; Basements can work well as second living rooms, or game rooms. You can also turn such space into a small ‘home’ for an elderly relative or a tenant. Attic spaces often work well for craft rooms and game rooms, especially if they have high ceilings. If you have kids, you can create a cool play room just for them. All these are most attractive to those future buyers.
Consider Energy-Efficient Windows
These days, a good number of buyers have an interest in homes with energy efficiency. Old, draughty single-pane windows are a major turn off. You can expect to recoup 60%-90% of your costs when you invest in energy-efficient windows. We at Mint have valuable contacts and can assist and guide you on quality cost effective, energy efficient products and ideas. This spend offers double advantage of course – you add value to your home for when you do eventually move and save on your energy bills in the meantime.
Whatever your extension or renovation plans, Mint offers a full development and finishing service to help give you home more space and add value too. We are here to help with any questions or concerns you may have including the ‘ins and outs’ of planning issues . We have all the expert contacts on hand to help you.
Please request your quotation and planning meeting with our expert team to extend, improve or refurbish your home . Contact Mint Builders on 01242 279739 or email firstname.lastname@example.org