Home News 4 Home Improvements That Make Smart Financial Sense

4 Home Improvements That Make Smart Financial Sense

With spring finally here and the weather starting to improve, many homeowners are looking to decide on their next improvement project. It can be beneficial to take a thorough look in and around your home to assess where improvements can be made or if there is sufficient need for a full renovation of a specific part of the house. 

When planning home improvements, it is of paramount importance that the work undertaken will add value to your property. While you may not be planning to move in the near future, home improvements should be designed and planned so that they make the home more practical, desirable or more efficient. A well-planned home improvement can add significant amounts of money to the overall value of your home or can help you to enjoy reduced costs that benefit you financially over the long term. 

In this article, four key home improvements will be explored in detail. Each of them adds value to your home, and every example is one that makes smart financial sense. 

Fitting solar panels

It is a fact that early incarnations of solar panels were not as efficient or well-designed as their modern counterparts. They were often heavy units that were difficult to install and required higher levels of maintenance to operate effectively. Today’s models boast between 15-20% energy efficiency (the proportion of sunlight that is converted into electricity). While this may not sound particularly impressive, they are far more energy efficient than the first range of models. In the UK, key suppliers of solar panels, such as nowev.co.uk, can work with the homeowner to understand their energy needs and will be able to plan and install a suitable amount of panels (commonly on the roof of the property to gain the most exposure to sunlight).

Once the solar panels are fitted, the homeowner will benefit from reduced energy costs as a proportion of the home energy requirements will be met by the solar panels. In the summer months when there are high levels of sunlight, it may even be feasible to sell surplus energy that is generated back to national energy providers. This way, the homeowner can produce a small amount of revenue from the panels.

Home office 

Since the covid-19 pandemic first started to have an impact in 2020, millions of workers were told to work from home or adopt hybrid models of work. This was to protect vital health services from the predicted overload that would occur if infection levels rose out of control. Thankfully, today most of the restrictions that were put in place to limit movement and gatherings have generally been lifted. However, many workers found that they benefited from remote or hybrid working patterns and wished to continue having the option of these in their current employment. 

For homeowners, a dedicated home office can be the perfect conversion for a spare or underutilized room. It can allow home working to take place in comfort while also giving the flexibility to undertake routine tasks or responsibilities during the day. Experts estimate that a well-designed home office can add up to 10% to the overall value of a home, which makes it a sound financial investment as well as a practical one.

Garage gym conversion

If you are planning to get in better shape this year but don’t like the idea of paying expensive gym membership fees, then a garage gym conversion could be the ideal home improvement for you.

In most cases, this is a relatively straightforward conversion that simply involves cleaning out the garage, installing key pieces of gym equipment and exercise mats then finally adding upgraded lighting so that you can exercise in comfort. You may also wish to install a smart TV or voice-controlled speaker system to give your workouts a feeling of luxury as you enjoy music or your favorite programs as you exercise. 

Develop your loft

In many homes, the loft is an area of the house that is completely underutilized. Often it simply becomes a storage ground for boxes of clothes and other household items that are not in regular usage.

However, a well-designed loft conversion can add around 20% to the overall value of your home while also giving you a range of potential upgrades to consider for the space. For fashion lovers, the loft could be converted into a large walk-in wardrobe, freeing up storage space in other key rooms. Conversely, it could become a guest bedroom or additional bathroom if the floors are sufficiently strong or can be upgraded. 

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