The value of the property that you own is important. Once you have bought your property and are living in there for a few years, you don’t want its value to slip. You may believe that your home will always just increase in value, however, this is not the case. Your home may lose value, putting you into negative equity. This can problematic if you plan of selling up and moving to a new home, or even if you planned to unlock with equity in your home later in life.
There are many factors that affect the value of any property. The location is of considerable significance. This is something that you have no control over. Your property value may drop if a new busy road is built close by. It may drop if there has been flooding in the area in recent years due to developments close by.
While there are factors that cannot be altered, there are always ways that you can increase the value of your home. One of the key ways of doing this is by increasing the size of your property.
Having An Extension Built
One of the most obvious solutions for increasing the size of your home is to get an extension built onto it. This will provide you with lots of extra living space. You can have rooms added to both floors of a house.
Getting an extension built is hard work, but the rewards can be great. First of all, you will need to enlist the help of a Residential Architects. They will draw up the plans for your extension. You will need to apply for planning permission. This can often be a sticking point, and it can take some time to get the approval that you need to start work.
When you get an extension, you will need to make sure that the amount that you spend getting the work done does not exceed the additional value that it will add to the home. You need to make sure that your extension is as profitable for your home as possible.
Making Good Use Of Existing Space Within Your Home
Your home may already have existing spaces that can be converted into more conventional living spaces. Think about your attic, basement, and your adjoining garage if you have one. All of these can be made into livable areas of your home.
Your attic can be converted into an office or a bedroom by creating a staircase up to it, making sure you have sturdy flooring down, and by having a window put into the roof. If there is enough space, you might also want to add in an en-suite bathroom too.
Your basement would make a great entertainment room. Alternatively, you could move your kitchen and dining room down to the basement, meaning you have more room on the ground floor to have a much bigger living room, or create additional practical rooms for another purpose.
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