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By: Timothy Frodsham
With many experts, home buyers and investors keeping a keen eye on the markets at the moment, it's no surprise that there is so much data available showing the movements in the housing market. The figures seem to be showing that, despite the fact that house prices are still up to 4% lower than last year, the number of sales and mortgages are steadily increasing. And with lenders becoming more lenient once again, many people are looking t remortgage to improve their homes and repay debts.
Many people then, are now able to apply for a remortgage which they have been unable to do for sometime due to the market conditions. By remortgaging, you are able to release additional funds, as well as obtain ap potentially cheaper mortgage product.
As there are so many mortgage products available on the market, it is important that you do your research and look at the mortgage carefully.
When considering what refurbishments to undertake, bear in mind that whilst some improvements may make the property more attractive to potential buyers, they may not actually increase the value. For example, redecorating or replacing carpets might improve the look of your home but won't necessarily add any value to your property when you come to sell it in the future.
Updating the kitchen and bathroom is also a great way to add value. If you have a property that has a very old kitchen or bathroom, the exercise will benefit you greatly as it will not only add value to your property, but you will also be living in a higher standard too until you sell the property.
Make sure your new fittings are modern, stylish and have a broad appeal. And, make sure you don't overspend on the work. For example, adding a bespoke ?50,000 kitchen to a small terraced house is highly unlikely to add the same amount to the value of your home.
If you are looking to increase the value of your home, another idea is to add an extension to the property as you can then increase the size of the rooms in the property or add new ones. This is a particularly good idea in properties with small kitchens or living rooms.
If you have any unused rooms such as a basement, you could also spend money doing the room up to make it into additional living space too increase your house price. Any additional rooms will add value and make the property more marketable.
Increasing the storage space in your home can also be valuable. You are likely to have all sorts of unused spaces that might fit shelving units or a cupboard. Make sure you utilise every last bit of space under your stairs and in corners of all of your rooms.
The final way to ensure you maximise your property's value is to ensure that you repair any major defects. Buyers will be put off by the potential cost of replacing central heating, rotting windows or old fashioned boilers and so make sure you deal with any of these issues before your home goes on the market.
Author Resource:->??Timothy Frodsham writes for JustRemortgages.com one of the UK's top sites for the latest remortgage rates and best remortgage deals.
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