If you are a homeowner, no doubt you will always be thinking about your home value and how this is improving (or not) over the years. In the last few months, it has been the first time in many years that we have seen the UK average house value decrease. This is set to continue as a trend in 2023 as the country enters a recession and struggles to cope with some of the economic demands. This is better news for first time buyers who may have been struggling to get on the housing market although getting a mortgage nowadays is not easy and the Bank of England rates continue to rise.
With these factors in mind, moving home at this stage may not be on the cards. That is why it is even more important to invest in the home you have and not only enjoy it but try to increase the value. Here are some of the ideas around this.
Unbelievably, we see many people now building steam rooms either internal or external to their home. This may sound like a massive improvement project, but it does not have to be. With people working longer hours and the struggle to have the correct level of work life balance these sorts of innovative features are appearing increasingly. Imagine coming home from a hard day’s work and then relaxing in a steam room from your own home. You can head over to sites such as JustWedi where you will be able to see some of the accessories and equipment to make this happen. If you are doing this, then the recommendation would be to do it “properly.” Do not go for cheap alternatives as you will want the longevity of this to last.
If you have a spare bedroom, then you could make this into a games / cinema room. With all the up-to-date surround sound installed, chairs that tilt back and a projector or large TV this really could be a den where people will relax. Watching your favourite movie in this setting or playing your favourite computer game in here could be really relaxing and if decorated / maintained to a high level, will definitely add value to your home.
If you are lucky enough to have a garage, the likelihood is that you do not store your car in here and it is used to store items (or sometimes junk). In this case, this could be a wasted opportunity where you could change this garage into another room. This could be a study, the games room like above or even a bar. People are doing this far more often nowadays and if done to excellent quality, it is something that adds quite a bit to the overall house value. One point to note on this is that you may need to get planning permission to do this therefore best to check this out in advance.