Do home improvements increase the value of your house?
While the housing market in the UK is struggling to say the least there has been a pickup in interest in home improvements. However, in these times of economic distress is it worth while investing into your home or should you be putting money aside for a rainy day?
Unfortunately there is no one answer fits all for this particular question as it is literally the "horses for courses" scenario. If you are in a position to invest in your home, on improvements which would increase the value in due course, then this may be a serious consideration. If you're looking to sell your home it is vital that your property stands out from those on the market at the same time assuming that you can at least recoup the investment needed for the improvements.
However, there are more and more people across the UK who would like to spend money improving their homes but unfortunately due to financial constraints this may not be possible at this point in time. It is worth remembering that saving money in the short to medium term, in the event of potentially losing your employment or an increase in your cost of living, could be much more beneficial than investing in your home for the longer term.
Yet again it comes down to a matter of cost and what you can afford at any one given time. It is vital that you do not overstretch yourself and err on the side of caution particularly in these difficult economic times.
Share this..
Related stories
Barclays bank shares slide after credit rating downgrade
The remarkable recovery in the Barclays bank share prices was halted today with news that credit rating agency Moody's has downgraded its rating on Barclays bank. The downgrade comes as the group announced it expected "significant further losses" on credit related write-downs. There is also potential for a substantial write-down on the company's property exposure where commercial property is comin...
Read MoreFixed rate mortgage rates rise
The decision of 14 mortgage lenders to increase the interest rates on a selection of fixed-rate deals has acted to drive up the cost of borrowing, it has been reported.The news comes soon after the Council of Mortgage Lenders (CML) published figures which show that fixed-rate mortgage deals are now more popular than they were just a few months ago.In April, 59 per cent of all new loans were fixed-...
Read MoreConsumer confidence index at 11 month low
The GfK NOP index of consumer confidence fell to -22 in July from -19 in June, against analysts expectations of -20, and is now at the lowest level for 11 months. This is a very worrying sign for the UK government because essentially without consumer confidence there is no way that the UK economy can begin to build for the future with any real confidence. So why have consumers taken fright? The...
Read MoreIs the government set to bail out Jaguar?
Rumours are sweeping through Whitehall this evening that the UK government is on the verge of approving a £500 million loan for Jaguar. Initially it was believed that the UK government would guarantee a loan for the business but now it looks as though taxpayers are on the verge of stumping up another £500 million for what is effectively an Indian owned business. This could be the first of many s...
Read MoreShort-term planning for a long-term future
Many people in the UK have long-term savings plans in place which include pensions, bonds and other such savings tools. The majority of these are long-term investments which will guarantee a relatively stable standard of living in the future and are seen by many as their "nest egg". However, a number of people appear to be avoiding short-term issues and continuing to plan for the longer term when...
Read More