Have some extra money from savings or a sudden windfall? It is tempting to go all out and enjoy extra simoleons on holidays and luxuries. But wouldn’t it be better to splash the cash on your home instead? If you are interested, here are some suggestions for wiser spending.
Add More Functional Space
Functional space in modern homes is a more practical yet fulfilling way to invest money into your property. With added functions, you get to enjoy your home in a meaningful way with family and friends. Plus, you can add a lot of value to the house should you wish to sell it later on. Popular additions include patio extensions, en-suite bathrooms and garage space. These are all usable things to add to your home that add an extra layer to improving your quality of life.
Fix Those Important Repairs
Being a homeowner comes with a sense of freedom and peace of mind. However, you are responsible for everything that comes with the house. This includes taking care of minor and major repairs. Having some extra cash allows you to take care of any pressing issues in your home. A roof repair can set you back thousands, so maybe pass on the loan you are considering and save yourself money in the long run by using the available cash you have.
Splash the Cash on Your Home Fun
Of course, it doesn’t always have to be to fix this and add that! Perhaps your home is in great condition, and nothing needs to be done. Saving some money just in case is a good idea. But if there are no pressing issues, then you can use the extra cash to enhance the fun at home. For various reasons, some societal, only around 27% of kids play outside in the UK today. You could spend the money on a soft playground in the backyard or a video game room for the children.
Renovate the Most Used Family Areas
Some parts of the home get used more than others. These are the practical rooms such as the bathrooms, the kitchen, and the family room. However, they also get scuffed and damaged the most because of how much we use them. Now and then, it is good to rework these rooms and give them a facelift. This is an excellent use of some extra cash for your home. Renovated bathrooms and kitchens will also add value when you want to sell up.
Finish the Basement or Attic
The basement and attic finishing sounds confusing. Don’t worry; your attic and basement aren’t half done. But they are barebones because they aren’t meant to be lived in. Finishing means converting these typically unused spaces into something functional. It is trendy in the USA to finish a basement to be used for things like a games room, home spa, or “man cave”. In the UK, attic conversions are usually done to add an extra bedroom or office
Summary
Adding more functional space to your property is a great way to splash the cash on your home. You can also add more play areas for the kids. Or finish the attic or basement for more room.
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