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HOME IMPROVEMENTS – GENERAL POINTS
General home improvement means something different to everyone. But it generally means to improve your home. There are some general points that can help you with most projects.
Some General Points
1. Theme: Are you going with a particular atmosphere or style? When painting – If you paint the woodwork the same color the rooms will look bigger, even if the walls are a different color.
If you have an open plan house the colors of the rooms adjoining need to look good together
2. Costs: Are a very important factor when you start home improvements. Make sure you consider what you want to do versus what can you afford.
3. Value: Will the home improvements add value to your home or won’t it make any difference.
Some home improvements can really add value to your home – below are guidelines:
- A new Extension could cost $60,000 and could increase your property value by $98,000, so a true equity value increase, after costs, of $19,000
- A new Kitchen could cost $16,000 and could increase your property value by $36,000, so a true equity value increase, after costs, of $20,000
- A new Conservatory could cost $16,000 and could increase your property value by $34,000, so a true equity value increase, after costs, of $18,000
- New Windows could cost $16,000 and could increase your property value by $32,000, so a true equity value increase, after costs, of $16,000
- New Central Heating could cost $14,000 and could increase your property value by $24,000, so a true equity value increase, after costs, of $10,000
- A new Bathroom could cost $8,000 and could increase your property value by $18,000, so a true equity value increase, after costs, of $10,000
The figures above are based on typical value and are dependant on the capital invested and the amount your home is worth. Home Improvements can be a very good investment.
Also if you don’t want to move but need a bigger home doing home improvements like adding an extension can add value to your home.