Many people are finding that the property market is not as reliable an investment as they had assumed. If the value of your property cannot be assumed to rise steadily as before, what can be done to add value to your home? After a little bit of research, you may find that there is money to be saved as well!
The rise of the domestic solar panel market has been tremendous over the last few years. What might have felt like an extravagance 15 years ago is now very popular, for good reason. Put very simply, an investment of between £10,000 and £15,000, an average household can install a domestic solar energy system which could generate up to 40% of their electricity. You can see the obvious financial benefits.
You will need somewhere for the panel to be installed. Whilst it souds obvious, it is worth stating - the spot will need to get a decent amount of sun! A south facing roof, or perhaps a wall, will be fine. But if you do not have a space which receives enough sun throughout the day, then the
A more conventional addition to your home would be a garage, or other extension. In both cases, there are various options depending on how much of the work you want to do yourself.
A garage can add a great deal to the value of your hoe, especially if you live in an area where parking is scarce, or car crime is high. In larger towns, it is estimated that a garage could add up to 15% to the value of your property.
If you want to take on some of the building work yourself, the materials for building a garage could cost you as little as £2,000. However, it is a large job. If you are happier to employ a professional, then an average cost is £7,500-£10,000. Slightly higher prices apply to extensions, but obviously this will depend on the size of the extension, and what you are planning to use the new space for.
Whilst upgrading your home might be harder than usual at the moment, there are many ways in which you can improve your current home, whilst adding value long term. An interior designer will be able to come into your home and apply an objective stylistic eye to your space. Approx. £2,000 will pay for a good, thorough redesign of a room, and will improve your quality of life as well as adding value to the house.