Improvements to the house and as a Property Development Investment

We see a trend in the type of work we are tasked to implement that is affected by many factors. One of the considerations most influential is the housing market. During 2002, when widespread fear that a property crash, we are moving to make a large number of bathroom and kitchen renovations. People are wary of extending themselves to a larger property mortgaged only to find themselves trapped in negative equity in the house price fall. In the fall and winter of 2003, with house prices stable, we see a decrease in commissions of all types. In the spring of 2004, with the long-term forecast house price stability, we see a new wave of full property refurbishment commission.

Meanwhile, almost certain that the investment in property will pay dividends long term (it's said that the average London house price set to rise from £ 250k to £ 600k in twenty years), with the behavior of individuals will still be ruled valid by the level of belief house prices and the latest issues in the newspaper. A safe approach to all of you as a homeowner is to make improvements to the house because you want to enjoy the improvements.

Consider new bathroom and new kitchen as the luxuries that will make your life better. During this improvement is not large or too stylised to taste a certain time, they will add to the saleability your own. This itself is an advantage if you come to sell.

But understand that this job is not possible to increase the value of property in accordance with the cost of the project. * Research conducted in the UK has shown that well-planned and implemented major improvements will not be back full cost of the work if the house is sold within 30 days after. In pure financial terms it makes more sense to sell the property that fell short of the needs of your life and find a property that already exist that meet their needs.

But people do not make decisions about their homes, only based on the pounds and pence. Many feelings and personal commitment to assist the decision making process. So, if you decide to expand and renovate your home, there are some basic rules that should be considering: *

* Do not fix the house to the point where the sales price will expect (or need) more than 20% above the most expensive property in the vicinity immediately. This property will likely cap the maximum price, you can reach;
* Central heating is expected, if you do not have it, it must be appropriate;
* Maintain the extent possible period features and lessons of architecture belonging to you when you design improvements;
* Do not install a bathroom in additional revenue from the bedroom;
* Replace the outdated kitchen. But realize that the value should not be taking charge. There's nothing wrong with adding luxury kitchen to enjoy themselves, but the fact that money is spent;
* Do research before you knock down a wall and go open-plan. This may help saleability, but does not reduce the value? Local estate agents can help you here;
* If you have three bedrooms, then it remains like that. If you convert to a home office or gym, make sure you can easily return again before selling;
* The addition of a third bathroom for the two-bathroom house is not possible to calculate its cost, especially if it is a luxury features such as wet rooms;
* Out-and-out installation of luxury such as a swimming pool, while impressive and beautiful to have, it is not possible to withdraw more than 10% of the cost to build in the added value of the property.

As interior design company we have the flexibility to work anywhere along the scale, from high-end luxury refurbishment to value, buy-to-let property development.

No comments:

Post a Comment

Blog Archive