In research carried out by Halifax an ever-increasing number of consumers are looking towards home improvements, for instance redecorating or getting a kitchen extension, as a way of boosting the worth of their home. A reported 25 per cent of homeowners who have undertaken such a project over the last 12 months have done so specifically to increase the value of accommodation - up from the seven per cent recorded last year.
Meanwhile, 51 per cent believe that the outcome of their home improvement plans will add up to 5,000 pounds on to their property, as a third think that new furnishings will provide a boost of 10,000 pounds. One in five claim that work in the garden would put more than 10,000 pounds on top of house prices.
Commenting on the research, Patrick Sawdon, spokesperson for Halifax Valuers, said: "Our research shows that Britain has become a nation of movers and improvers. It's great to see that so many people are investing time and effort in improving their home. A word of caution though, poorly executed home improvements can actually detract from the value of your property. If you're considering embarking on major work, do consult the professionals and seek any necessary planning permission before getting started."
Overall, redecorating was shown to be the most popular home improvement option - accounting for 66 per cent. Gardening took up 41 per cent of consumer responses, followed by new furnishings and adding a new bathroom which stood at 30 and 24 per cent respectively.
The study also showed that 31 per cent of those surveyed "rely heavily" on their partner for help when working on their home. Meanwhile, 14 per cent turn to family members for such aid - and with 31 per cent looking for advice on how best to finance renovation work, taking one of the more competitively-priced home improvement loans could well be an advisable option.
A new kitchen was viewed by one in five respondents as the single improvement project which would add the most value to property, followed by adding an extension (14 per cent) and a loft conversion (eight per cent).
Research from the financial services firm also revealed that getting a competitively-priced home improvement loan could be a useful way in which to pay for labouring costs, as 35 per cent of those surveyed have called upon professional tradespeople to carry out work. However, younger people were revealed to be willing to get their hands dirty in projects as 68 per cent of 18 to 34-year-olds get involved in renovations. Halifax suggested that a rising number of first-time buyers are looking to boost the value of their home so as to help them sell the property at a premium and move up the housing ladder.
Consequently opting for a cheap personal loan could possibly be the most effective way in which to fund home improvement work. Earlier this year, Which? reported that those considering taking out such a loan should get a copy of their credit history with all three of Britain's credit reference agencies - Equifax, Experian and Call Credit. By doing so, the consumer watchdog claimed that borrowers will be able to identify any discrepancies on their file, which in turn could secure them a more competitive rate of interest on their personal loan.
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One of the most important aspects of good bedroom design is the colour. For a small room or one that doesnt receive much natural light, the use of light colours such as white or magnolia is a must. Such colours create a sense of space.
If you are new to property developing, I would recommend you try experimenting with different colours in rooms of differing sizes. For example, for a short room where the room is very wide but not long, you could try a cool colour on the end wall and dark colours on all the sidewalls. This will cause the room to appear much deeper than it actually is.
Conversely, where the room is longer than it is wide, you could try painting the end wall with a dark colour and side walls with lighter colours. The net effect is a room that appears larger and squarer than it actually is.
For those property developers who are more adventurous, you could introduce some design and style into your bedrooms. Horizontal patterns with a light coloured back wall will make any room look spacious and long. Vertical patterns will create height, especially useful if your property has low ceilings for example as in period cottages.
Prior to putting your newly developed property on the market, you should consider furnishing the property. Unfortunately a lot of potential buyers have difficulty in picturing how empty property will look when furnished. Well furnished property thus achieves higher prices than their unfurnished counterparts.
When furnishing your newly renovated bedrooms, always use good quality furniture. For example, teak tables, teak chairs, deep plush seating and good quality beds which would match your potential markets taste. If you do not own such furniture, you should definitely consider hiring something for the period during which the property is on the market.
If you are unsure of the type of furniture to use, you should visit other similar size properties in equivalent areas as your target market will already have furnished these properties to their own tastes.
Finally, when developing bedrooms, never lose sight of your budget. Its easy to go overboard when it comes to expenditure, so you need to keep a strong grip on all expenses throughout the development.
Successful bedroom design and modelling is an art that takes experience to perfect. It is not as easy as randomly placing furniture in the room and hoping for the best. Furthermore, expensive designs dont always work best. What is more important is for you to now who your target market is, and to design your bedroom according to their tastes, not yours.
When developing property, you should always try to make your house stand out from all the other newly developed properties of the same size and in similar locations. For example, you could have a teen bedroom in the house. You could try experimenting with colours too, for example pink for girls and blue for boys.
You may also want to stage a bedroom as an office by adorning it with high-end computer peripherals, and other modern technological equipment. Obviously, how far you go will depend on the size of your property. Having an office in the only bedroom of a one bed flat will not work!
Clever bedroom design and staging is definitely an art any good property developer needs to learn. Bedrooms designed and furnished according to the target market of that property can help you achieve a far higher price than you would otherwise have obtained.
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