The start of a brand new year is always a great time to get some perspective and consider what you want to achieve in the short-term future.
For many homeowners, this often means taking a fresh look at their properties and thinking about how they could breathe some new life into their surroundings. Interestingly, recent research has put a spotlight on that very matter, with it revealing that many people are planning significant changes in 2021.
Big plans in the pipeline
Last month, Yahoo! Finance reported on the findings of a new study undertaken by Attic Self Storage. It found that 53 percent of homeowners in the UK are planning to make home improvements in the next year, with the average spend on such projects expected to reach around £6,500 per household.
Redecorating was found to be the top home improvement planned, with 69 percent of those polled planning such changes. Just over 40 percent of homeowners intend to improve their outdoor areas, while some are also looking to extend or build an outhouse.
A third of those polled added that they hoped to create more space with work on a specific room, while others wanted more storage space.
Plenty to consider
Such findings provide an intriguing glimpse into the mindset of many homeowners as 2021 approaches. However, if you’re among the many people who are planning projects, there may be a range of issues that need to be considered from the outset.
One fundamental issue will of course be how you intend to fund any work. Tackling smaller-scale matters might be fairly straightforward, but larger issues like extensions may require some serious thought. If you intend to remortgage in order to fund some work, you could use a mortgage comparison site like Trussle to get a sense of the deals on offer. The site lets you enter basic information on the amount you want to borrow, the type of rate and the term of the mortgage. It then provides listings of deals and the potential monthly payments you could face.
Of course, another key issue to consider is whether you ultimately want to do the home improvement work yourself or get experts in. Again, this may depend on the scale of the project, but there is plenty to think about. For instance, HouseBeautiful’s article on this very issue discusses how it may be worth avoiding jobs where something done incorrectly could have major consequences. The site also suggests that you could save with a Buy-It-Yourself approach, which would see you purchase products and then hire an expert to install them.
Prepare for success
The beginning of a new year is always exciting and Attic Self Storage’s study certainly suggests that many people have big plans for the coming months.
However, there is always a lot to think about when it comes to home improvement, so proper preparation could be key to your success. Hopefully, the information above has set your mind whirring with possibilities, so good luck in your upcoming projects.