A home is unlike any other asset. It’s not just a store of value, and a thing to be sold when cash is needed later on; it’s also a thing to be lived in and enjoyed. In many cases, upgrades to the home can be justified not just by their financial benefits, but by the uptick in quality of life they might grant.
So, what kinds of upgrades are worthwhile? The answer may depend on your personal circumstances and priorities. There are, however, a few things worth thinking about.
Refresh Your Living Space on a Budget
Think about the parts of your home that you spend the most time in, and get the most enjoyment from. These are often the areas that should be prioritised. A living room might be made cosier with the addition of a heavy set of blackout curtains, for example.
Or, you might install a new heating system to help make the space more comfortable during winter. These improvements, as well as improving your life, can also drive down your bills, and therefore pay for themselves over the years.
Combine Everyday Outgoings into One Easier Payment
When you’re juggling multiple debts and bills, it can feel almost impossible to find extra money to invest in your home—even if you know that investment could save you money over time.
This is where a secured loan can help. A secured loan lets you combine all your existing debts into one, so instead of managing several payments to different creditors, you make just one monthly payment to a single lender.
Because the loan is “secured” against an asset—usually your home—it often comes with lower interest rates than unsecured debt. This can make your monthly payments more affordable and give you more breathing room in your budget.
By simplifying your finances and possibly lowering your monthly outgoings, a secured loan can help you get back on track—and may even free up funds you can invest in improving your home and reducing long-term costs.
Fund Big-Life Moments Without Digging Into Savings
You don’t have to delve into your savings to find the money for those special events that make life truly memorable. Whether it’s a wedding, a work event, or a once-in-a-lifetime overseas holiday, it’s possible to find extra cash by leveraging your equity in your property. This might allow you to keep your savings intact for when a rainy day arrives.
Invest in Sustainable Switch‑Ups at Home
Some investments are not just good for the home itself, but for the environment, too. Any investment you make in ensuring that heat, electricity, and energy in general aren’t being wasted is going to confer an environmental benefit, on top of all of the more practical ones. Things like solar panels and wall-based batteries can be highly advantageous, for example.
The good news is that the government has an environmental agenda, and that you might be able to benefit from special grants to make these kinds of improvements a reality.