How much money would you spend on home improvements?

PrincessLou

We have just bought our first house and currently i can think of about ten different home improvements i would like to do. My question is, we're planning on staying in the house for three years, how much should we limit ourselves for spending on home improvements?

Sparx

If you only plan to stay there for 3 years I would only make home improvements that would add value to the house when you go to sell it at the later date (3 years)..

So I would suggest advising everyone what home improvements you want to make and someone more experienced/qualified will tell you what is worth doing..

note_2

is it worth buying a house to live in it for just 3 years given that house prices will in all likelyhood stay roughly the same?

littlesparkles

I spent money on a new kitchen and bathroom. I have lived here for 6 years and I am just selling it now for £1k less than I bought it for. I see the improvements as things that made the property nicer for me to live in rather than things that added to the value. Then I don't feel so down about the money! So only make improvements if you are able to accept that the value of your home might not go up because of these. They may only make the property more saleable.

PrincessLou

Just to clarify, i don't want to make these improvements to add value to the house. I want to paint, put new sockets on, change the cheap laminate floorring to Solid Oak flooring, take out the awful gas fire from the 80s, etc, etc. These things are for my satisfaction and to of course make the house attractive for when we sell it in a few years time. However, i want to make things look nice but i don't want to waste too much money either. That's why i was asking how much would you limit yourself on spending? The projects i am wanting to do would cost £2000 total maximum.

harrup

PrincessLou wrote: »

We have just bought our first house and currently i can think of about ten different home improvements i would like to do. My question is, we're planning on staying in the house for three years, how much should we limit ourselves for spending on home improvements?

Of those 10 things.....are there some that NEED doing? In which case, do those first. Even though they may be the most boring ones....but at least then they are done and you can move on to more frilly, fun stuff.

Lists are useful. Because then you can write everything you want to do down and then rank them in numerical order of importance. Helps to maintain focus and avoids getting side-tracked and/or carried away.

Or is the primary impetus to make your house your " home" with those improvements? Since you only plan to live there short term, make sure your purchases are largely transferable to your new house.

Or....is the main aim to add value? From what I understand, adding value isn't all that easy or budget friendly since it seems to entail adding more living space via either an extension, a loft conversion or other structural work. A new kitchen, new bathroom , etc will make the house easier to sell...not to mention more pleasant for you to live in...but it won't affect the price in a meaningful way.

I know this doesn't really answer your question. But how much you should spend largely depends on your income and refurbishment budget.

TBH, if you truly only want to stay 3 years, other than a coat of paint in your favourite colour & some inexpensive new pleasing curtains and rugs ( Ikea, really is your friend in this instance,) it isn't worth spending anything. Save as much as you can for your next move.

harrup

PrincessLou wrote: »

Just to clarify, i don't want to make these improvements to add value to the house. I want to paint, put new sockets on, change the cheap laminate floorring to Solid Oak flooring, take out the awful gas fire from the 80s, etc, etc. These things are for my satisfaction and to of course make the house attractive for when we sell it in a few years time. However, i want to make things look nice but i don't want to waste too much money either. That's why i was asking how much would you limit yourself on spending? The projects i am wanting to do would cost £2000 total maximum.

uh, golly, no!

have you really looked into the cost of hardwood ( oak) flooring? i share your passion for it - but for a house that can only be considered " temporary" it isn't worth it.

Soot2006

I spent over £2k on the cheap laminate ....

I would definitely not consider hardwood flooring for temporary living accommodations. However. I would also not buy a house with the intention of staying only 3 years. It tales almost that long to fully settle in, lol!

pinkshoes

Solid oak flooring and £2k budget?? Is it a very small floor!

dimbo61

If you rip out the old gas fire I hope you will be using a Gas Safe registered plumber/engineer.
If you plan on adding extra sockets I hope you will be using a part P registered electrician
will the room be warm enough if you remove the gas fire ?
If the kitchen really needs to be replaced then replace the kitchen but dont do it to add value.
It will cost more to buy a new kitcehn than it will add value.
If the bathroom is from the 70,s with a green/purple/brown suite then change it to a modern clean white one from wickes/B&Q/Homebase/IKEA.
Just be careful not to spend too much

mildred1978

I've just had a quote for an engineered oak floor of about 16sq metres - almost £1600.