Renovating can still bring financial rewards as long as you don't make the common mistake of spending too much on expensive fittings or additions that cost more than you can ever hope to sell your property for.
The greatest risk for homeowners renovating these days of the Celtic tiger is spending too much on the wrong things. Homeowners can put substantial amounts of hard earned cash into expensive fixtures; the highest quality fitting that may add nothing to the added value of the property.
How much is too much?
Property owners need to assess the current value of their property and its potential added value after a renovation. You should consult maybe the local estate agent to assess their property before work starts and a guide price on the value as a completed product.
As a rule of thumb calculation you can work out some rough figures yourself. First, add what you paid for the property to the planned renovation cost, now with a little homework compare the sale prices of similar finished property in the area.
As a homeowners hoping to add value to your property as well as improve your family's lifestyle, you need to consider other people's tastes as well as their own and understand which features add value and which do not. Try to produce a design that is compatible for all tastes.
There easiest way to add value to your property is to look internally at your property for ways that can be re-configured internally rather than extended. Look at the possibility of converting the garage space into a bedroom or living room why not also explore the possibility of converting the attic space.