Improving

The good…

If you can’t bear the thought of leaving your family home and all of the memories that go with it, adapting your existing space and giving it a new lease of life can be a win-win situation. Plus, whether you change the décor or add a new extension, renovation should add value to your home. So, when you do eventually sell up or pass it down to family members – it’ll pay dividends. It’s also a great way to delay selling your property if the housing market is going through an unstable period.

The bad…

Not up to negotiating ladders and painting high ceilings? Hiring a professional painter can take the pressure off, but it can cost anywhere between £375 and £500 for just one room. If painting a three-bedroom house, for instance (hallways and living spaces included), you could be looking at a minimum of £3,000.

On top of the cost of an extension you’ll need to consider planning permission

Thinking of taking on a more ambitious project such as building a new extension or granny annexe? You’ll need to consider hiring an architect, having plans drawn up and applying for planning permission. You can expect to pay around £1,500 for the planning package needed for a loft conversion or standard extension. This includes a measured survey, preliminary designs, design development and preparing the application documentation – and that’s before the building even starts. However, whether its cosmetic or structural work, it’s worth factoring in the possibility that you may have to stay in temporary accommodation, or with friends or relatives, until the work is completed.