Decoration alone is not sufficient to meet your sale price expectations or rental yield? Then you’re probably into more extensive refurbishment and renovation. So what should you tackle first to get the greatest return on your investment and make it a tempting proposition for potential owners or tenants?
It is very simple to get an estimate from a trustworthy builder or garret converter who will be glad to be of assistance. The work to be undertaken generally involves the setting of flooring and skylights as well as insulation which is extremely significant in a loft as it is the coldest division of the house.
By now you will have already done the most vital thing, you will not have put all of your eggs in one basket. You should now have a good idea of the cost of your loft conversion Chelmsford and the time scale it will take. From this, draw up the cons and pros of each home visit and decide on a company. When doing so, also take in to account the research initially carried out and check for happy testimonials from clients.
You definitely want good input from your plumber and electrician by now. Anything which has to run under or behind something solid has to be carefully considered. Floors and wall frames can start appearing. Don’t forget to make use of any space on top of the steel for storage and think carefully about the size and shape of those doors. Remember the height above the door may be clear in the middle of the room but compromised as the door opens.
If you have equity in the house you can draw down on this equity to fund the renovation. The equity can be in the form of a lump sum or a line of credit (whereby you can effectively use the equity as a credit card and take out money when you need it).
Does the planned conversion intend the room to become a bedroom? What size of bed will you be able to fit in the space you have? How about head height – do you have enough room and will it be comfortable to get in and out of bed?
When going for these types of loans, it helps to know what is involved in the home improvement. Will it be completed in stages ? In this case you probably want a line of credit or a loan where the lender releases the amount in chunks. This will save you money over time as you are not paying interest back on one lump sum that may just be sitting in your account.
These days the best place to start is probably on a loan comparison site. As with any comparison site, this will compare many different loans from many different lenders. You will be able to compare, at a glance, the interest rates and fees. Pay particular attention to the fees, as with some homeowner loans these can be varied and substantial. Also be careful to check the loan to value – which is how much the lender will lend against the remaining equity in your home after your first mortgage is deducted. It will do you no good if the lender will not lend up to the value you need!