Home renovations are at the forefront of many people’s spending plans in 2021, as uncertainty continues around other potential pursuits.
Holidays to Dubai, trips to watch Formula One racing and other such luxury pursuits are simply not possible right now unless you own an apartment at Silverstone of course. Due to ongoing restrictions within the UK, you may not be able to indulge in such pursuits for some time. The result is people with disposable cash may well look to their homes to pass the time. And 24% of all homeowners who carried out renovation work on their property did so with money previously earmarked for a holiday, reports Property Wire.
Some people are confined to their homes for work, most must find active leisure pursuits on their own property and that could further be a catalyst for a luxury remodel. At the higher end of the market, you may look to a home gym or swimming pool installation to ensure you can exercise, or convert a room to a home cinema for entertainment. Finally, you might just be bored of your current kitchen or bathroom and feel a change is as good as a holiday. Last year, homeowners spent an average of £4,000 per project, with garden upgrades topping the list, so perhaps you want to follow the recent trend of constructing an outdoor bar area for entertaining when you can. If you can add a high-end, luxury remodel to your apartment or property, then here are a couple of aspects you need to consider before a drill or hammer is lifted. Budget The first major concern should always be around your budget. Even high-end renovations should have a budget within which to work, and a contingency should things go wrong. Think about exactly what you wish to achieve from your renovation, and then research the materials you may need to do just that. Try to budget for everything, from bricks and mortars to fixtures and fittings. Factoring in some quotes from the trades too, and when you are done, add 10% to cover unforeseen problems. Once you have a budget, be strict with it too. Do not be tempted to add another couple of grand to the plan if things get tight because you can soon lose control of your spending. Planning Unlike someone putting a new kitchen in a two up, two down, a big renovation job may well need planning permission. Your first port of call for any big project should be the UK Planning Portal, a resource which will help guide you through the process. It will help with obtaining a building inspector should you need one, advising if your property needs planning and with a host of other issues as you may need to negate. Make sure you do this before spending a single penny because retrospective action can be taken against projects that need planning but do not obtain it. Insurance You can obtain insurance at every part of your job, and it is worth thinking about before a builder steps foot in your property. Be prepared to quiz them on what cover they have, which will help you ascertain if you need to get some for yourself. There are policies which can cover the duration of the project, and those should certainly be considered. Also, thinking about what you may need after the project is done is important, too. As you can see from the insurance options featured on HomeServe, you can get policies which cover individual aspects of your home, from the boiler through to the drains. Post-install insurance is a great way of protecting your investment in the event of a malfunction. Research Like any big investment, make sure you do your due diligence. Once you have a budget and have ascertained what planning you may or may not need, then turn to the three ‘R’s of a remodel – research builders, research products, research prices. Any high-end job is likely to attract plenty of interest from builders so you should have your pick of the best. Do not always go for the cheapest, check their websites for evidence of other big projects and consult the internet. When it comes to products, even if your builder recommends certain things, look for yourself. The internet is free, and it is a great resource that enables you to understand everything about the work you have carried out. Finally, if you do wish to haggle and negotiate, do so with suppliers, not the builder. A supplier will always be eager to secure your business and with products at the higher end of the market come bigger mark-ups and as such, more opportunity for you to get a better deal.