£1 million

And finally, a big chunky budget of £1m. For that amount you’re looking at building a state-of-the-art orangery or a lovely extension. For that amount you can really give the house a full redo. Think of gutting and renovating key rooms, improving the functionality of the property, you could even invest in making it more sustainable. I would focus on the fundamentals rather than adding anything flashy such as a swimming pool.

It is a lot of money and if you are investing to sell you need to be absolutely certain you will at least make your money back.

For that amount you could build a home from scratch. Maybe that’s the way you want to go, buying a property for the land and starting from scratch. The estimated cost of building your own house can be anywhere from £120,000 to £900,000 and that’s after you have bought the plot of land and paid to bulldoze the other property.

But be wary, one of the main factors in building your own home is time. When you buy a property you can move straight in after completion. However, when you are building your own you need to factor in at least 50pc more time than buying.

And you need to plan ahead. It could be worth registering your interest on the Government’s Right to Build register. It means the local authority will get in touch to let you know when a suitable plot comes up.

Whatever you do, make sure it is for the right reasons. If you have no plans to sell in the near future, focus investments on what will increase your enjoyment of your home.

Trends come and go, a property is your home first and an investment second. And if you are selling, fresh paint goes a long way.

Whatever you do, make sure it’s for the right reasons