Considering a home extension but still working out the figures? Have a read of our top tips on how to finance a home extension.
Extending your property can add significant value while enabling a better quality of life for you and your family. But how do people fund their home extensions?
Image: Adam Knibb Architects
There are a few options available when it comes to funding your home improvement and maximising your budget for your grand design. We asked the property advice gurus at HomeOwners Alliance for advice on financing your home extension.
With interest rates so low, you may feel that investing your savings in your home makes sense and avoids any additional borrowing. If you are looking for a return on your investment, choose your project carefully.
For example, HomeOwners Alliance’s recent research with the Federation of Master Builders and The Guild of Property Professionals found that removing an internal wall to create an open plan kitchen and diner was the best way to add value to your home. It could cost around £3,500 but add £48,000 to the average London property.