For most of us, the past year has meant spending a lot more time at home. But as we get stuck into home schooling, working, exercising – you name it, many of us have been left wondering whether our homes could do with evolving along with the new normal. So, is your home fit for doing the things you love? We’re taking a look at a few ways you can adapt your living space for our new way of life.
Upgrading a few home comforts
It won’t come as a surprise to any of us that the number of subscribers to TV streaming services such as Netflix, Amazon Prime and Disney+ increased by a whopping 8 million over the past year. With many of us settling down for a night on the sofa rather than a night on the town, splashing out on a new TV or armchair might be upgrades worth investing in. A new TV can range from anything from a couple of hundred pounds to a few thousand depending on your budget, but could go a long way to improving your lockdown downtime.
Going open plan
Struggling to keep an eye on your kid’s home school set up while you hurriedly make their lunch? If a multiple room set up isn’t doing your family any favours, knocking down a few walls could help bring you all together.
If it’s just a stud wall you’ve got your eye on demolishing, it’ll set you back around £500. However, if the wall is load bearing, you could be looking at nearer £2,000. Transforming your downstairs space by making it open plan can add around 3-5% to the value of your property – so there might be a financial bonus as well as a lifestyle one.
Take a look at our home furnishing loans to see how you can change your current living space.
Redesigning your home office
If your home office leaves a lot be desired, you could invest in giving it a new lease of life. With many of us working from home on a near permanent basis over the past year, turning your home office into a space that you love could help boost both your mood and productivity.
Giving a room a lick of paint is a relatively cheap way to modify your home, and depending on the size of the room, a DIY job will set you back around £50. However, if you’ve got the space, you could also think about building a fresh office space from scratch in your garden. Building a small garden office space can set you back anywhere between £5,000 – £20,000 depending on what you want. Garden offices can add around 5% to the value of your property, so could be a good investment.
Making space for exercise
If you’ve found your living room doesn’t quite cut it for your workouts, you could think about expanding your space by getting a home renovation loan. A garden room is often a popular option, but you could also think about converting your loft space or adding a conservatory.
Increasing your living space by adding a conservatory can add up to 10% to the value of your property, and costs can range from around £6,000 up to £13,000.
For a loft conversion that can be classed as a bedroom, you’ll be looking at around a 15% increase to your property value. However, costs of loft conversions can vary a lot depending on how much work needs to be done. If your home can accommodate a loft conversion without changing the shape of the roof, your costs are likely to come in at around £15,000 – £20,000. However, if you need to add a dormer, you could be looking at up to £60,000.
However you decide to adapt your space to the new normal, investing in your home can not only be financially rewarding, but great for improving our lifestyles too.
Want to find out how much you can afford to invest in your property? Check your borrowing options now without harming your credit score.
