Whether you’re intending to build an extension on your property or are planning to invest in new UK internal door sets, you need to make sure that you can afford the work and aren’t going to leave yourself stretched by carrying out the improvements.
That means it’s best to save money before you get stuck into any renovation or decorating work around your home. Property Reporter recently shared some top tips from online bank Marcus by Goldman Sachs about how you can save money ahead of a home improvement project.
At the top of the list is to set a budget before you do anything else. The news provider explained that this is important because it will show you how much you realistically need to save to get your project underway.
Having a budget before you start will also help you to control costs once you get going. You may be able to spend a little more in some circumstances, but having a budget will help prevent you from making impulse purchases that could cost you more than you bargained for.
Part of this process should involve taking an objective look at what you already have in your home. Are there any items of furniture you could upcycle? Or could you use design touches to inject new life into a space rather than spending all the money to redecorate it completely?
Now that you’ve got your budget and looked at where you could save a bit of cash, you should start saving. Commit to putting money for your project aside each month. It doesn’t matter how small of an amount this is because it will all add up.
It’s also worth looking at all of your regular expenses and seeing if there’s anywhere here you could make some savings. Would switching broadband or energy suppliers see your monthly expenditure fall, for instance?
Put any money you save in areas like this straight into your savings. You won’t miss the cash because you were already spending it anyway, so make the most of it and use it to top up your home improvement savings pot.
Buy Association recently reported that people’s homes are one of the main factors in their happiness. This is one of the findings in the GoodHome Report by the Happiness Research Institute.
One of the other things that can impact how happy we are is our access to green space. This was true for those living in cities as well as the countryside, with the news provider noting that living in a leafy neighbourhood or being close to a park was good for our overall wellbeing.
In the survey of ten European countries, the UK was ranked fourth in terms of how happy people are with where they live.
Interestingly, the research found that renters can be just as happy as buyers. However, for renters to be happy they needed to “feel they have some control over their rental, especially when it comes to home improvements and tenure”.