Great Western Credit Union offers tips for adding value to your home
Whether you need to add a bedroom for a growing family, factor in a new office due to working from home or want to give your living spaces an update to keep them looking fresh and modern, there are plenty of projects that will pay off financially in the long run.
Great Western Credit Union have been helping local people put their plans into action with a range of affordable loans. Here are their suggestions for three property-boosting projects to add value to your home.
Brighten your outlook with new windows
New windows can improve your home’s kerb appeal, while making it more secure and energy efficient too.
Where windows are concerned, the biggest added value comes from updating from single glazing to double glazed. But even if your house already has double glazed windows, if they were installed some time ago, an upgrade will provide better insulation, greater noise reduction and less condensation due to newer technology that didn’t exist a decade ago. All of which can pay dividends on your house price in the future.
To install new windows throughout a standard three-bedroom family home, costs are likely to range from £5,000 – £8,000.
Invest in a loft extension
A loft conversion can give you a cosy or modern bedroom with wonderful views and often enough space for an en-suite bathroom. Or if you’re working from home, you could turn it into a peaceful office space tucked away from the bustle of life downstairs.
A significant investment that will vary in price depending on how large your home is and whether you choose to add a dormer or not, a loft extension is usually a cheaper way of adding space compared to a ground floor extension. Unless it is particularly large or changing the façade of the front of your property, a loft extension is likely to come under permitted development without the need for planning permission.
On average, a loft extension adds around 10 – 15% of a home’s value. So, although it may be costly upfront, it’s likely to be a sound investment all round.
A new kitchen is a recipe for added value
Estate agents and property experts agree that a new kitchen can increase the value of your home by between 5 and 10%. With a mid-range kitchen costing between £10,000 and £20,000 for an average sized house, that’s a good return for your money.
For a more economical update, there are plenty of changes you can make that will add impact. New tiles, appliances and/ or worktops can give your kitchen the wow factor. While repainting or replacing cabinet doors can give it a brand-new look for a very reasonable price tag.
Make it happen with an Advantage Loan
From funding a new home improvement project from scratch to topping up your savings to cover the costs, GWCU’s Advantage Loan can make it possible.
Their lowest rate loan specifically for homeowners or people with an excellent credit score, the Advantage Loan gives you the chance to borrow between £7,500 and £15,000 at a rate of 4.9% APR Representative, making it ideal for any projects that will add value to your home.
Visit greatwesterncu.org, email firstname.lastname@example.org, or call 0117 924 7309, to find out more.