If you’ve come into some money, be it from an inheritance coming in or a promotion at work, it’s important to spend it wisely. While it’s tempting to spend it on treats for you and your family – days out, vacations, and so on, instead consider investing it in your home. By opting to put the money into your home, you can improve it, add value, and make it a nicer place to be. Of course, the question is, what are the best areas to invest your money in? To help you determine this, below are a few ideas and suggestions for updates and improvements that you can make to your home.
Adding an extension or conversion
A great way to invest in your home is by adding an extension or converting a space that you already have. If you’ve been wanting to add more space to your home for a while but didn’t have the funds for it, now could be the ideal time. You’ve got the money to do it, and as long as you’ve got adequate planning permission, it’s the perfect time.
Whether you want to add an extension onto your home or convert your basement or attic, it doesn’t matter – both are great areas to invest in. Not only because adding an extension or converting an existing area will add space to your home, but also because it will add value. So you and your family would get a more spacious home to live in and a property that’s higher in value to sell.
Updating your home’s security systems
Is your property’s security system a little outdated? As a homeowner, it’s your job to protect your home, and also, your family. And so, if your home lacks up to date security features, this could be a perfect area to invest in. On average, in the US four break-ins occur every minute – that’s one every 15 seconds. That equates to over 5000 break-ins a day and over two million a year – that’s a scary statistic.
The good news is that although burglaries are common, with the right home security in place, you can lower the chance that your home will be targeted. To do this, you’d need to invest in features like a wireless alarm, cameras, and a smart lock for each door. As well as any other security features that you deem necessary. You could even opt to have a home security audit done on your home, to see where the weak points are.
Your home’s energy efficiency
It’s a well-known fact that homes that are energy efficient save money in the long-run. Yes, they may be expensive to set up in the first place, but they save a lot of money when it comes to the cost of bills. If you’ve wanted to make your home more eco-friendly for a while, now could be the perfect time. This is because it’s something that can be fairly expensive to do.
The great thing about making your home more energy efficient and eco-friendly is that not only will it save you money, but it will also add value. That’s right, a lot of buyers look for eco-friendly and energy efficient homes and are willing to pay more for them. So, investing in new features, like a smart boiler and solar panels, will not only save you money but will also boost the value of your home.
If you’ve come into some money, it’s important to take your time thinking about how you want to spend it. A three month, no-expenses-spared vacation might seem like a dream come true, but is it a wise way to spend the money? Surely, it would be more beneficial to invest in your home and get something back from it? Of course, it would – one of the ideas above could be the perfect way to do so.