Let’s face it, your home is likely to be the biggest single investment you will ever make and spending time and money on improving the property is really a win-win situation. Not only are you adding to the comfort of your living space, you are also adding to the value of your home, which will come in very handy as you approach those golden retirement years.
Real Estate Appreciation
Even if you made no renovations or additions, your home will increase in value as land prices and the cost of living rises, but if you carry out regular improvements at home, the value of the property will rise considerably. If, for example, you converted the loft into another bedroom, then the following year, you built a small swimming pool in the yard, this would result in a big increase; you can have your home valued and compare that figure with a similar property with no improvements.
Major Renovation Projects
It might be that you are planning to install a solid timber floor in your living room and when you are ready to shop for recliners at Roth Newton, you can furnish the room with the most comfortable furniture that will also be a wise investment. One of the most expensive renovations would be the kitchen, which is far more than just a place for cooking, as the kitchen is where the family meet at the start and finish of each day. If you want the very best appliances and materials, be prepared to pay a high price, but you can be sure of a first-class job that will stand the test of time. Most building renovators would issue a sound warranty on all their work, which gives you peace of mind and should there be any minor issues, mention them to the contractor and they would resolve the problem.
The DIY Enthusiast
Many Australian homeowners combine their hobby with improving their living space, which is a great way to save money when carrying out home improvements. You can acquire all the materials you need from an online supplier and with YouTube tutorial videos on all home improvement projects, you really can’t go wrong. There is a tremendous amount of satisfaction that comes from fitting your own kitchen or bathroom, not to mention the savings that come with DIY solutions. You could start with small projects and over a period of a few years, accumulate a comprehensive tool kit, which is an essential aspect of DIY. Over the years, your abilities would develop and you can take on more ambitious projects and there’s always the online tutorials to point you in the right direction. Click here for further reading on building maintenance, which is an essential component of property ownership.
Increasing your Living Space
A loft or garage conversion is a great project to undertake, as this actually increases your living space and that affects the value of your property. An extra bedroom, a two-storey extension or even a modular building in the garden, are all great ways to boost your home’s value. If it is possible to add a large extension that would give you another 3-4 rooms, it would be a project that sees your home value soaring; when the project is completed, ask a local real estate agent to value the property and you will be pleasantly surprised. As the family grows, many homeowners are looking to add to their living space, which might come in the form of a loft or garage conversion, or even a bricks and mortar extension, and the extra space can be utilised in many ways.
Clean & Renewable Energy
You may not be aware that the Australian government offers homeowners financial incentives to make the switch from the national grid to the clean and renewable energy we get from the Sun. Solar power is ideal for Australia, where we enjoy more sunshine hours than almost any other nation and with government assistance, we can all eventually make the switch to clean and renewable solar energy.
Take your Time
There’s no need to rush things, a project every couple of years would result in quite a difference in 15-20 years, and when you have the funds, you can plan your next project. Rome certainly wasn’t built in a day, so prioritise and start with the most needed improvements, leaving the luxury projects for another day.
Building for a Secure Retirement
Every time you invest in a home improvement project, you are inching a little closer to financial security when you eventually retire, and as the years go by, your living space is constantly being improved and these will boost the value of your home when you sell up and retire in the country.