How do you know when the project is a home improvement one and not a completely new build? When does one make more sense than the other?
Pros and Cons of HOME IMPROVEMENTS
The majority of homeowners will, at some, point makes changes or modifications to their properties. These modifications or home improvements will serve their family well for a long time.
In recent years, with the recessions and a sluggish property market, homeowners have been improving and extending their properties as oppose to facing the expense of moving or building their dream home.
However, you need to ensure that any home improvements not only offer you the changes you need, but are in keeping with;
- The style of your property
- The level of demand for your kind of property.
When it comes to home improvement vs. new build projects, you need to maintain the integrity of your property. In other words, the finished product needs to be a balanced and ‘rational’ product.
For example, a four-bedroomed family home without no garden will be harder to sell simply because families need and want outdoor space.
Consider any home improvement carefully, asking what practical function it is adding to your home. Consider the value it is adding, as well as the appeal and desirability. Is it in keeping with the neighbourhood and the style of your property?
Pros and Cons of NEW BUILD
Building your dream home is, for many people, a project that seems beyond their reach. There are, however, a growing number of people who are taking on the challenge of building their own home.
However, it can be a double-edge sword;
- Building costs – once you have purchased the land, building costs can be lower than making home improvements or adding an extension to your current property, especially if you are prepared to haggle and negotiate.
Do it right and you will have a property that is worth more than the cost of building it. But get it wrong, and the whole project can be incredibly expensive and, as some people have found out to their cost, a significant financial mill stone.
- Stressful – there is no doubt that a new build can be challenging, exciting and enthralling. But it can in part or in whole, be an incredibly stressful escapade and one that must be completed for you to be released from its grip. Getting the right building contractor can be the solution to a less stressful build.
- It is YOURS! – everything in your new home has been designed, created and chosen either by or for you, and no one else. This level of exclusivity and uniqueness is exactly what you craved!