Planning an extension? Consider these three things
When it comes to renovations, one of the biggest projects to tackle is extending your home. While it can feel like a huge (and daunting) task, planning properly can lead to a smooth and stress-free process. And what’s more, it can help make sure your extension not only improves your lifestyle, it also adds value to your home. Consider these three things before you get started.
Do you have enough space to achieve the extension you’re planning? Think about what it is you actually need; are you adding on new bedrooms, increasing your living spaces or perhaps you’re wanting to create a self-contained space?
The space you have available could affect your plans - or vice versa, your plans could eat into how much outdoor space you have left. Figuring out the dimensions of your extension early on can help you assess how much space you need.
Why are you building an extension? Think about the purpose of the project - it’s about more than simply making more space.
Perhaps you have young kids - and are planning more. Perhaps you need to make room so that your parents (or other members of your family) can comfortably move in. Maybe you simply want to add value to your property.
When you’re planning your extension, figure out what the motivation behind the project is - and include it in your brief. Understanding the purpose of the extension can help you plan in more detail and it can even help make sure you’re not spending money on unnecessary things.
Speaking of money, how do you fund the project and make sure you don’t spend beyond your means? This is where a mortgage adviser can help. Once you’ve planned out your extension, it’s time to determine how much you can afford to spend - and arrange the finance if you need it.
Working with a mortgage adviser can help you obtain the money you need - whether it be through refinancing your existing home loan, or applying for a personal loan - and make sure you can comfortably afford the repayments.