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Living in London: Renovate to Accumulate

If you are one of those fortunate people who live in London, and you are also among the lucky ones who own the home you live in, then welcome to the club of millionaires. London property prices are rising steadily and it has become very difficult to purchase property in the city. Their bank balances may not show these figures but their property assets are certainly much more valuable than they had ever anticipated.

In a scenario such as this, where purchase of a newer and larger property is not possible, it makes a lot of sense to upgrade your present home and make additions to it in order to save money, yet get extra space and further enhance the value of the property. Often, homeowners are wary of renovations, as they are concerned about the time and effort involved, and also whether the expenditure incurred will pay dividends in the long run. However, a careful analysis will show that it is a proposition that makes a lot of sense; and despite the initial hard work it is always profitable in the long run.

Increase in the Value of the Property

Any renovations or additions to the property only accentuate the value of the property. The addition of a loft to your home will raise the value because of the additional space being provided. Every property evaluator looks at the ratio of space and location versus the price being asked for. You cannot change the location, but you can definitely raise value of the home.

Renovation is Always Good

Whether you renovate the existing rooms, or you add some rooms such as a beautiful loft, renovation always makes the home look better. There is an air of novelty; suddenly, all the other rooms also look brighter as if to match up to the new additions. The truth of the matter is that we never realise how much of a facelift our home needs, since we are used to the colours and the upholstery. However, the moment the new colours and rooms come into our lives, everything looks much nicer and sunnier.

Get a Larger Home without Spending Too Much

It is always possible to increase the available space in a home, without having to move out to a larger home. Take the advice of a professional and you will be surprised at how the costs can be controlled and how well you can add rooms to your home. A loft is easy to do; it can provide a space with windows and a view of the neighbourhood. It can be an extra bedroom, or maybe just a place to set up the music system and the computers, and be away from the bustle of the rest of the home. A renovated basement can convert space that is not utilised very well into a family room and a storage area that is organised well. A renovated kitchen can be much more efficient and a pleasure to work in.

 

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