Do you intend to renovate your property? Background research is the secret to a successful home renovation. Conduct a cost-benefit analysis to determine whether the proposed work will increase the value of the property. People that do not intend to sell the property may not take this advice. However, they regret when they realise financiers are not willing to give a line of credit on their mortgage or a short term loan.
Below are some return on investment home renovation projects to consider.
The exterior is the first impression of your home. Below are a few renovation projects to consider.
- Repaint the exterior of your home to a colour that blends with the landscape.
- Create recreational areas on your compound. With adequate space, you could have a deck that extends into a swimming pool. Alternatively, you could have a patio or gazebo.
- Install an appealing fence. There are various cost-friendly fences such as Colorbond, live, vinyl, timber or aluminium.
- A car park will not only protect cars from harsh weather but also improve the allure of your landscape.
- A proper drainage system will protect your asphalt or concrete driveway. It will also prevent waterlogging that might damage your plants.
- What is the condition of your lawn? Climate-friendly plants, a proper irrigation system and organic fertilisers are a sure way to keep your lawn green all year.
Warm colours will help brighten your interior. Alternatively, you could choose a colour scheme based on the colour of interior fittings such as curtains, furniture or artwork. Incorporate light into your interior. As such, you could go for large glass windows or doors. You could also install skylights. Open living will make your interior look spacious. As such, you could join the dining room, kitchen and living room. You could also do away with unnecessary corridors.
When planning a home renovation project, consult with a conveyancer or real estate agent to know new trends in the real estate industry. Besides, check local laws to know whether there are restrictions on specific works or whether you need a permit to renovate the property. Create a list of all the works and ask a few builders to give a quote of how much they will charge to complete the project. Choose a builder that offers quality services at a reasonable price. They must have general liability insurance.
Most home renovations can seem expensive. However, you could conduct the work in phases. Alternatively, you could take a home improvement loan from your bank.
For more tips on home renovations, reach out to a local remodelling contractor.