The perfect home looks very different for every woman. Whether it’s a home gym, a reading room, an office from where to conduct your business, or a walk-in wardrobe, we all have different dreams. But before you start the transformation, you need to consider how you will finance it, whether they will be permanent changes, and what exactly you will do.
Think about finance
Making changes to your home requires investment. Perhaps you have money saved that you will use or maybe you will look at other sources. If you already own the house, it could be worth looking at remortgaging. After all, changes and improvements to a property can increase its value. This means you will likely get your money back when you eventually sell. If you are on the market for a new house and are looking ahead to how you will adapt it, you can take some expert mortgage advice and compare the deals available to you. This will help you figure out how much you have to spend on your grand designs.
Will you make permanent or temporary changes?
Next, you need to decide whether the updates and improvements you want to make will be permanent or not. There are lots of different factors that can change the value of your home. Permanent changes typically include a bigger investment and can impact the value of your property. The bonus is that you can often get a return on the money spent when you come to sell. In the case of temporary changes, these typically cost less but do not add value.
Ideas for changes you can make!
There are many changes you can make to your property that can increase its value. For example, walk-in wardrobes are often considered a big selling point. Some sources state that including a walk-in wardrobe can add an additional couple of thousand to the value of the property and that the majority of the investment can be recouped.
Another option is a home gym. If done in the right way, this can up the value of your home. If you are just putting gym equipment in a spare bedroom, it’s unlikely to add extra dollars to your value price. But if you consider building or creating an extension, this can be profitable. Adding square footage, as well as features like a shower, sauna, or steam room, the property becomes more valuable and desirable. Depending on the size of the addition, you can also expect almost a full return on your investment.
Alternatively, you could opt for changes that aren’t permanent. Turning a spare room into a dressing group is easily achieved, especially on a budget. All it needs is a new coat of paint, some new furniture, and a dressing area. This can include a beauty console, a mirror with lights, and a full-length mirror for trying on outfits.
You could also consider creating a bespoke home office or reading room. Again, this is a change that doesn’t require significant investment or structural changes. But remember, it will not add any additional value to your home. All that’s required is a desk and chair, additional seating such as a chaise lounge, and bookshelves to suit your requirements. While you may not get much return on investment, you will get a lot of enjoyment out of it, and you cannot put a price on that.
Owning a home and transforming it is an exciting business. The key to doing it well, is planning, understanding your finances, and knowing exactly what it is you want to achieve.