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On the JJ Barnes Blog, I check out the best spend now, save later home improvement tips that could work to improve the value, and functionality, of my home, even in this cost of living crisis.
We love our little home. It’s close to schools, close to town, close to playgrounds, shops and pubs, as well as having lots of green spaces for the dog and the children to charge around and burn off steam. The only problem is, it is much to small for our family now, and we’d love to move somewhere bigger. However, the property market is such that we can’t even think about moving right now.
Despite this, we would like to get our current home to the best state we can for when it is possible. With the cost of living crisis being what it is, finding ways to make living more cost effective is definitely a top priority, as well as making changes that can increase our property value for any future sales.
To discover what we could to to spend now, save later, experts at Aluminium Windows and Doors sent over home improvement tips that we can learn from!
Spend now, save later
The majority of Brits are staying put and choosing to ride out the property market storm, despite the fact that mortgage approvals are at their lowest level since May 2020 and house prices falling again for the fifth month in a row.
However, while you wait for it to pass, there are numerous long-lasting home improvements that can save money and increase a property’s value and are suitable for all budgets. Aluminium Windows and Doors , experts in aluminum and glass, has compiled a list of 2023 “spend now, save later” improvements.
Insulation
Without insulation, up to a third of a home’s heat can escape, resulting in energy and money losses. Cavity wall insulation typically takes two to three hours to complete and requires a licensed professional. The typical expense of protecting pit walls is £1800 for a disconnected house; However, it has the potential to reduce annual energy costs by more than £600, resulting in long-term savings.
Notwithstanding cavity wall protection is space protection, where up to 33% of intensity can be lost. Again, this is a job for professionals, as insuring a detached home typically costs £900; However, it could reduce annual energy costs by as much as £600.
Your home’s EPC rating will also rise as a result of improved insulation, resulting in a slight price increase when you decide to sell it.
Solar panels
Installing solar panels is the best option if you want to save even more money on your electricity bills. You could save approximately £300 annually and reduce your carbon footprint by producing your own electricity. However, solar panels aren’t right for every home because you need at least 20 square meters of roof space and a north-facing garden.
However, solar panels are not inexpensive; The typical system costs approximately £6,000. Recent research indicates that properties with solar panel systems can anticipate a price increase of up to 2%. This is in addition to saving you money on electricity.
Install new doors and windows.
It goes without saying that upgrading your home by installing new single-pane windows and doors instead of the old, worn ones will increase its curb appeal and increase its value. The energy ratings of double glazing range from A++ to E (with Building Control accepting A++ to C), so choosing windows and doors with an A rating will help you save money on heating costs and emit less carbon dioxide. Installing aluminum windows and doors can help you save money because they last longer than PVC frames.
Create a home gym
If you have any desire to add the wow factor to your home, why not put resources into a home gym? You can not only save money on costly gym memberships each month, but you can also significantly increase the value of your home by up to 44%.
There are numerous choices for introducing a home exercise center to suit different financial plans, from changing over a carport or a current room inside your property to adding a little expansion or nursery room. You will need to budget for gym equipment, in addition to the cost of renovating the space.
However, you have the option of purchasing used equipment if money is an issue. You also have the option of using a “wellness space” for yoga and meditation, which doesn’t require as much equipment.
Establish a home office
As the number of Brits working solely from home decreases, the number of people opting for a hybrid working arrangement continues to rise. As a result, in order to improve well-being, it is essential to have a working space or room that allows for the appropriate ergonomic arrangement. You don’t have to spend a lot of money on this; If space is an issue, you can choose a folding desk or a standing desk converter to increase mobility.
By incorporating a day bed and doubling as a spare bedroom, a home office can be made versatile. In the event that you can make your spending plan stretch a piece further, you could consider an expansion or a nursery room, which would enhance your property.
You can also save money by setting up a home office so you can work from home. Over 80% of people in the UK commute by car, bus, or train, with the average commute time being 27 minutes, according to the government. You can cut down on your carbon footprint and save money on travel by setting up an office at home.
Conclusion
Some of these tips are more affordable in the short term than others, but I can definitely see how working towards the more expensive home improvement tips would be beneficial long term.
Sources
https://www.nationwidehousepriceindex.co.uk/resources/t8mmn-o9d7c-cy6z3-p19yf-bkvkx
https://www.bankofengland.co.uk/statistics/money-and-credit/2022/december-2022
https://solarenergyuk.org/wp-content/uploads/2021/10/The-Value-of-Solar-Property-report_SEUK.pdf
https://www.postoffice.co.uk/mortgages/how-to-add-value-to-your-property
https://www.checkatrade.com/blog/cost-guides/home-gym-cost/
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