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Plan Your Home Renovation

In general renovation works can be an exciting process, however, this process can also be challenging and at times overwhelming. There is a lot that has to be considered when undertaking a renovation project. You will need to think about what you would like to / should tackle first. You will need to have an idea of how much you are able and willing to spend. As well as the extent of the work to be done. Would you need the assistance of professionals or are you planning minor changes that you will be able to work on yourself. You should have a general idea of all of this and more before getting started.

In this article, we discuss a few tips that you should keep in mind when planning on renovating your living space into a space that suits your needs, your style and your budget.

 

Spend time to planning before you begin. A lot of preparation and consideration needs to be taken before renovation works can commence, especially if structural changes have to be implemented or professionals are needed. You will need to know what function you want the room to serve. Ask yourself, ‘What is your goal for the newly renovated space?’ Are you renovating to make the room bigger? Do you want to give the room a more updated look? Are you renovating with the intention to increase the property value with plans to sell later down the line? Once you have a clear idea of what you want to achieve with the renovation you would have a better idea of what needs to be done.

 

When you are planning it is wise to think long term. Remember that your family and lifestyle is likely to change over the next few years. A newlywed couple planning to have children in a few years would need to ensure that the design of the space is child friendly. If the plan is to live in the home well into the golden years, it would be wise to make the room elder friendly as well. This can also offer immediate benefits if you have parents or grandparents who live with you or visit frequently.

 

It is important to be able to balance your new needs with the budget that you have for the renovation project.  It is wise to seek advice from an architect regarding how to creatively yet practically convert the existing design to the new and improved one while staying on budget.

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3 Non-Financial Benefits of Home Ownership

Whether it is through purchasing an existing property or having the home of your dreams designed and built, most individuals dream of one day owning their own home. Reaching the point of home ownership is considered a significant moment in an individual’s life and thus we work hard to turn that dream into our reality.

While owning a home provides several financial benefits it also offers some non-financial benefits that aren’t often considered. In today’s article we take a look at three (3) non-financial benefits of home ownership.

Individuals often compare the differences between home ownership and renting when considering the advantages that owning a home offers. A key difference between the two options is that when you own your own home you won’t need to worry about the cost of rent being increased or being evicted.  Also, renting a home or apartment does not usually provide much option in regards to modifying the living space to better suit your needs. Whereas if you own your home you are free to renovate or add an extension to increase your comfort and convenience.

Home ownership offers stability. Having to move from rental to rental is a major inconvenience and can be both a financial and emotional burden. When you spend your life constantly renting homes and apartments you can never really be sure where you will end next. Factors such as a change in your financial situation or even a growing family may require you to move to another property sooner that anticipated.

Another benefit to home ownership is that it grants owners the opportunity to be a more established member of a community. When you own your property you literally own a piece of your community. Being part of a community means being a good neighbor, and that requires owners to take care of their property and improve the community.