Home improvement can be a stressful consideration for new homeowners to make, particularly if this is their first ever home. Projects can feel large and overwhelming, to say nothing of their budget (which we will come to shortly).
But taking steps to actively engage with improving your home can have dramatic impacts in a number of ways, not in the least financially speaking. Why exactly should you consider shouldering the burden of a home renovation?
Put simply, the more you invest (albeit shrewdly) into your home, the higher its value will increase. Whether you add space through an extension or conversion, update the kitchen or renovate the flooring, quality changes and additions add up to long term value.
Investment can be difficult to justify in the present climate, particularly if your personal finances are weighed down with debt. However, a shrewd approach to your finances can reveal even a modest budget for home improvement, which can then yield bigger rewards when you come to sell.
Risks and Property Preservation
Thinking about making improvements to your home also opens you up to considerations beyond the aesthetic. Any home will require quality-of-life changes over time, and will also require ‘servicing’, so to speak. Issues can emerge from the smallest of places, whether a minor roof leak becoming a black mould issue or a crack in your foundation giving way to subsidence.
These issues can have profound impacts not just on the home’s value, but also its effectiveness as a shelter – and its safety for your family. Catching problems early as part of a home improvement push can keep your home safe and sturdy for longer.
Energy efficiency is a concern of increasing import for households at the moment, for two distinct reasons. Not only is the climate crisis deepening, but hikes to energy bills are showing no signs of reversal – making efficient improvements to your home a financial benefit as well as a moral one. You might re-insulate your walls and attic, or replace your boiler for a greener alternative like an air-source heat pump.
Finally, and perhaps most importantly of all, your house is yours to live in and yours to enjoy. This can be easy to forget, and you should absolutely exercise your right to treat your house exactly as you wish and according to your tastes. When selling, you might consider a more neutral palette for painting and decorating, but if you’re living in your home for the foreseeable future, don’t be afraid to let your imagination run.