Posts Tagged ‘make money on your property’

How to make money on your property

Thursday, January 28th, 2016

With TV property programs becoming more and more popular and the cost of moving high, many homeowners are tempted to improve, not move, and add another bedroom. Loft conversions are often considered the easiest and cheapest way of adding that all-important extra bedroom, a recent survey by Direct Line Home insurance found that 36 per cent of British builders and tradesmen said they are the most problematic home improvements.

This means it is important to choose an experience company who know how to deal with any problems that may occur during the project. This means they will be able to work within their budgets rather than some cheaper companies who will have rising costs due to difficulties or problems with the build.

Loft conversions were followed then changing bathrooms, where 26 per cent of projects go wrong, and fitting a new kitchen, where 19 per cent cause problems. 47 per cent of builders and tradesmen said extensions are currently the most popular home improvement. It has been proven with the recent sore in house prices that loft conversions and extensions can have a massive rise in the value of your property.

While the average cost of an extension is approximately £35,000, the average difference between a two and three-bedroom property in London is around £157,202. In Scotland, where the gap is narrowest, the difference between a two and three-bed home is £45,949. Those considering work should remember that the cost would vary substantially depending on where in the country they are – it could prove much trickier to get a £35,000 extension in London than in Scotland.

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A number of builders said kitchen refits or extensions frequently go wrong, as homeowners often want to have lots of input, without necessarily understanding the feasibility or implications of their demands. It is important to make sure your builder knows exactly what they are doing, maybe check online or ask another builder about your ideas. Only an experienced building company such as Four Corners Properties would be able to incorporate the customer’s ideas while making sure everything is done property with no problems.

Greater access to light is the most popular reason for homes to get a refit, with 15 per cent of builders surveyed reporting this as the latest trend. Popular light-enhancing home improvements include installing large bi-folding doors, exterior brickwork replacement and fitting new skylights.

Extending homes or converting rooms to add light and space can add real value to a property so can be worth the investment. With the constant rising cost of house prices making it expensive to move, home improvements are a popular way to improve your living situation without breaking the bank.

Carrying out any form of home improvements requires proper planning, realistic budgeting and knowledge of any applicable planning permission requirements. Agreeing a quote with builders before any work starts and setting a viable timeframe upfront can also help prevent future problems.

These are all important aspects of any building work and with Four Corners Properties you will get a detailed break down of your quote so you know where your money is going. We will do everything for you from design and planning, getting all necessary permits and permissions before we complete the whole build ourselves with our experienced tradesmen.

Below we have our tips for home Improvements

  • Agree a quote beforehand – set aside a strict budget but allow a contingency in case of overspend to mitigate financial strain
  • Agree on a realistic timeframe upfront and remember to allow for contingencies, ie, weather
  • Make sure you understand what the project involves and be honest about previous work done to the house so builders can be prepared
  • Keep in regular contact with your builders throughout the project
  • Have a contract in place to cover both parties and never hand over payment upfront
  • Use the same builders or tradesmen from start to finish to ensure consistency
  • Make sure the builders are only working on your job and commit to working on it every day
  • Check your builder has the right insurance in place before work begins

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