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Here are 7 ideas for giving your pad a facelift:

 

1.    Redesign the floor plan

 

  • Cost: from £0
  • Value added: 5%

Rearranging your home creates loads more space. You can free-up room by ditching bulky furniture, or switch built-in for freestanding units so you’ll see more of the floor.

 

For a dramatic change, ceilings can be lifted and walls removed. You’ll need cash - and expert help - to do this, but it could make a huge difference.

 

TIP: The MagicPlan app creates a new floor plan in minutes using your phone’s camera.

 

 

2.    Convert your loft

 

  • Cost: £15,000-£40,000
  • Value added: 5-10%

If your family’s getting bigger (or you’re always putting-up overnight guests) an extra bedroom is a gift. Converting your loft does the job – and if there’s space (and budget) for a bathroom, you’ll add even more value to the house.

 

If you live in a semi or terraced property, you need to give your neighbours advance notice, in writing, of your plans. This is because you share a “party wall”.

 

TIP: If your neighbours have converted their loft, ask to have a look and you’ll see how much space it makes.

 

 

3.    Create a conservatory

 

  • Cost: from £5,000
  • Value added: 5%

A conservatory is relatively affordable - and you don’t need planning permission. You can use it as extra living space, or a kids’ playroom; stick a sofa bed in there and it could become a guest room.

 

Building control is essential: you’ll need approval to build over any drains, for example.

 

TIP: Adding to the overall square footage of the house increases its resale value.

 

 

4.    Invest in a new kitchen

 

  • Cost: £2,000-£50,000
  • Value added: same as cost

A kitchen is the heart of a home: create a bright, welcoming space, to cook, eat and hang out in.

 

You don’t have to rip out the old kitchen to make a change: replacing unit doors costs from £20 to £50 per door and makes your kitchen look brand new at a fraction of the price.

 

TIP: A brand new kitchen can easily run into tens of thousands - but estate agents warn kitchens add exactly the same value you spend on them.

 

 

5.    Fit an ensuite bathroom

 

  • Cost: from £5,000
  • Value added: 2%

If your bathroom looks tired, replace dated items, like light-fittings and taps, to cheer it up.

 

If you have cash to splash, go all-out with a shiny new bathroom suite. White creates a sense of space and won’t date quickly.

 

TIP: Install a separate shower cubicle - if there’s space - to make a bathroom more modern.

 

 

6.    Build an extension

 

  • Cost: about £50,000
  • Value added: 5%

Crave extra living space? Or a spare bedroom? An extension is a massive step – but could be cheaper than moving to a bigger home.

 

Extend into the garden to make an open-plan kitchen-diner; a double height extension provides an extra bedroom, too.

 

For a single storey extension, development concessions (valid until May 30 2019) should mean you won’t need planning permission – but you’ll still need to provide your local authority with a written description of the work and a plan of the site.

 

TIP: Use a building firm that belongs to a trade body, such as the Federation of Master Builders (fmb.org.uk). Ask builders for references, check they have personal and public liability insurance and ask to see their certificates.

 

 

7.    Give your garden a makeover

 

  • Cost: from £2,000
  • Value added: Kerb appeal

A beautiful garden makes a real difference to family life: roll your sleeves up and transform your outdoor space with tons of TLC.  

 

If you’re not green-fingered, go for easy options like decking and colourful plant pots. It looks the part, with minimal effort.

 

TIP: Avoid going overboard: if you decide to move, potential buyers might be put off by a garden that looks high maintenance.

 

 

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What is Money Means? 

Money Means is a news and information series written by independent financial and consumer journalists and experts*. FSCS launched Money Means in 2016 to help give people clear and useful information about personal finance, to increase understanding and confidence when dealing with money.

 

*THE VIEWS EXPRESSED IN MONEY MEANS ARE OF THE WRITERS AND NOT OF FSCS AND SHOULD NOT BE REGARDED AS ADVICE.

9/8/2017 2:31:41 PM