Sooner or later, there comes a time when your home needs refurbishment and there are lots of decisions to be made. To what extent do you refurbish? Will you be able to live in the property while the work is carried out? Can you afford a complete renovation? The answers to questions like these will help you work out how far you are prepared to go with the renovations.
Here are a few aspects to consider when renovating your home.
- Funding – Talk to Ascot Bridging Finance who offer special property refurbishment finance at very low rates; if you have equity in your home, you could release this with a refinancing package. Once you have funding approval, you can start asking local builders to quote for the project.
- Interior renovations – You might only be looking to redecorate the interior and perhaps build a small extension on the rear of the property. This could be done one room at a time and that means you won’t have to move out while the work is carried out. Start with the upstairs bedrooms and hall, then the upstairs bathroom and the stairway; the kitchen will be a major project on its own, then there is only the lounge and the dining room and your whole house has been redecorated – this would be an ideal time to buy new furniture.
- Major exterior renovations – This might include re-roofing and rendering the exterior, which would best be done in the summer months. Talking to a local builder will help you make the right choices and if there is planning permission required, the builder can assist with this.
- Knockdown & rebuild – If your home has seen better days, why not go the whole 9 yards and have the structure demolished, the ground cleared and build your dream home. You could approach a finance company that specializes in this type of project and see what they can offer. There are UK builders that only work on knockdown & rebuild projects and this is a turnkey solution, with the builder handling everything.
- Renting a home –Three months would be adequate for a major renovation and that ensures there are no delays; you can probably find a short-term rental not too far away. Click here for information on property taxes.
Choosing a builder
Most builders tend to specialize; some are custom builders that undertake single house projects, while others focus on refurbishment and choosing the best builder usually involves asking for multiple quotes. It is important to ask to view a previous project and check for online reviews; the cheapest is not necessarily the best, materials and workmanship matter.
Of course, if you have the skill and the time, you could save a lot of money by going down the DIY route and home improvement loans are available. If you are not sure of your abilities, there is always the small builder.
If you would like to learn more about the Green Homes Grant, here is a link to their website.