Sainsbury’s Bank have come up with a great new way to find out, using their Home Renovations Calculator.
The home renovation calculator is designed as a guide for your personal use and has no legal basis if your house doesn’t increase to the same value, or a project goes over budget. We recommend that you take financial advice before considering a loan or a mortgage to fund any renovation work.
If you’re considering renovating your house with a bit of a paint refresh or, even going for something more ambitious such as a loft conversion, then it’s useful to know which projects could be more profitable than others.
Say, for example, your house is valued at the national average of £228,147 (source, January 2019) and you decide to convert your garage to that home gym you’ve always wanted at a cost of £6,500, your house value could increase by £34,000 and you could make an estimated tidy profit of £27,500. Plus, get fit and healthy.
Sainsbury’s Bank home renovation calculator may help you to decide on what the right project is for your budget and where you could add the most value to your home.
Head over to their website to try it for yourself and find out how it works.