According to a survey by Zopa, the UK’s largest peer-to-peer lending service, people taking out home improvement loans look at the kitchen as being the biggest area in the home that is in need of help, closely followed by structural work and new bathrooms. If you are considering investing some hard-earned cash into renovating your home, our infographic has some information which could be very useful for you.
There are many magazines and websites that cater to home improvements, so it is worthwhile taking the time to do some research for inspiration. The more certain you are that you know what you want, the better you will be at the planning and budget stage. Although Britons like to think of themselves as brilliant at DIY, more than half of us admit to having at least one unfinished project in our homes, so it makes a great deal of sense to use professional tradesmen if your are undertaking a large renovation. Contact friends and family members for recommendations, and don’t be afraid to check credentials and ask to see references from previous clients. Always get a few quotes, and remember that cheapest may not always be best, as 18% of British homeowners have been victims of cowboy builders and bad tradesmen.
Choosing to improve your property rather than move means you not only get to enjoy the benefits of whatever you have done, but the changes can add value so that when the market does pick up you might get a better price should you decide to sell. Obviously the type of improvement depends entirely upon your budget, but a loft conversion could add around £20,000 to the value of your property. It is worth bearing in mind, however, that not all improvements could do this, and the more personal the change the more likely future buyers won’t like it, should you be considering decorating the whole house in shades of pink!