Whether you decide to prioritise comfort, energy efficiency, or just putting extra into your home that can be regained further down on a sale, the right improvements can totally upscale your home’s look, feel, and value. There’s no shortage of possibilities that £25,000 can help you achieve.
Picture it – you’re thinking of making improvements to your house, how does an injection of £25,000 sound? That may go a long way to seeing you through.
One of the most popular ways of improving a home is through a brand new or updating an older kitchen. Long considered to be the heart of the home, a modern or revitalised kitchen with new units and appliances is a fantastic way of improving a home, both for the occupants and for increasing profits on a sell. If planned correctly, a budget of £25,000 could transform your place to one with a stylish and luxurious kitchen.
Outdoor spaces rank high in many people’s lists of things they would like to have. A landscaped garden with patio areas, decking, etc., can create an extension of your living space. Whether it’s for entertaining, relaxing, or quality time with the family, improving your garden can make a big difference to your quality of living – particularly in the summer months.
Bathrooms are a location of choice for an improvement that can yield an excellent return on investment. A renovation of a bathroom into a luxurious space, complete with beautiful tiles, a walk-in shower, etc., can take an ordinary bathroom and turn it into a luxurious retreat for those who utilise the space. The right updates to the bathroom can significantly impact, positively, the market price of your home (should you be in a position to sell later on).
Energy savings are on the tip of the tongues these days and solar panels or even home insulation has quickly emerged as just two of the most promising alternatives in reducing utility costs, and for enhanced efficiency from your property. Solar panels undoubtedly present one of the most promising opportunities to not only cut down on your spends but also create a path towards independence from utility providers. Home insulation also helps in keeping homes warm in winter and cool in summer!
The cost of borrowing £25,000
| £25,000 loan for home improvement | Itemised summary |
|---|---|
| Purchase Price (Security Property) | £110,000 |
| Loan Requested | £25,000 |
| Term | 5 months |
| Net LTV | 23% |
| Interest Rate | 1.25% per month |
| Monthly Interest | £25,000 × 1.25% = £312.50 |
| Total Interest (5 months) | £312.50 × 5 = £1,562.50 |
| Lender Arrangement Fee (1%) | £25,000 × 1% = £250 |
| Loan Amount | £25,000 |
| Arrangement Fee | £250 |
| Total Interest | £1,562.50 |
| Total to Repay | £25,000 + £250 + £1,562.50 = £26,812.50 |
In search of more space without an extension? Loft conversion can help you add an extra bedroom or an office to your home without altering your existing space. In many cases, adding value to your home is one of the best strategies to help you utilise a home that is constantly adapting to your needs.
Do not forget about the little improvements that can make a big impact. A new front door will make a difference when it comes to look and security. The living room – new flooring and furniture, a redecorating of the space and its layout–is an important part of your home and can be modernised without much disruption.
Therefore, £25,000 can be used to refurbish a number of areas in the home or use it for a single home improvement project. Indeed, investing in home improvements is a shrewd move for a brighter future, but it is a case of choosing improvements that make sense for you.