Properties are often considered as investments, which means that you have to consider these three things: how much you’re willing to put down on a renovation project, how much you’re expecting to get in return, and over what period of time. This is especially true for investors of luxury homes who are looking to increase the resale value of their property or to hike up rental prices.
But your return on investment doesn’t always have to be enjoyed in numerical terms. You can simply refurbish your property to elevate your home life, which is more than enough reason to do so. For instance, bespoke kitchens range from £18,000 to £50,000, based on figures by Ideal Home. And given that we’re talking about luxury homes, you can expect to spend upwards of the higher bracket. Consider whether it’s well worth the investment for your specific purpose.
No matter your plan, it also pays to make sure that your home is in top working condition to maximise your investment and lessen any headaches down the road — whether it’s in terms of kitchen and bathroom fixtures or your home’s systems. In this regard, HomeServe highlights the importance of getting professionals to repair or maintain your home’s heating systems, as they can provide you with gas safety certificates that ensure safety and efficiency.
This is especially important for those looking to rent out their homes, as it is part of a landlord’s legal responsibilities. But of course, any homeowner would be glad to have their newly renovated home in tip-top condition regardless, so be sure to factor coverage into your budget, too.
Style
One of the best reasons to renovate is to keep up with ever-evolving design trends. Maybe your current home doesn’t quite reflect your style and you want something that screams ‘you’ in every nook and cranny.
Canvassing for trends is always a good idea, and according to Upscale Living Magazine, we’re looking at bolder colours and patterns in interior design this year. Espresso brown and charcoal grey are out; brilliant hues of cobalt blue, aubergine, and royal green are in. These are best paired with metallic accents and even more eye-catching statement pieces at home, such as contemporary paintings, sculptures, and opulent lighting.
Espresso brown and charcoal grey are out; brilliant hues of cobalt blue, aubergine, and royal green are in
But you don’t necessarily have to go with a bold and modern aesthetic. There are many design trends to admire from the luxury hotels in London alone, most of which are reminiscent of old-world splendour. Elaborate details, crystal chandeliers, and velvet-lined furniture is very Downton Abbey-esque and might just be the right peg for you.
Function
Having a luxury home is not all for show. In fact, it should be the perfect marriage between form and function.
One way to do this is to integrate smart home devices. Today, home automation is becoming a true hallmark of luxury living, as these tech-based products promise added comfort, convenience, and security.
You can start with small changes like a smart lightbulb that goes on and off on a timer. Video doorbells are another simple addition that increase your home’s security. Smart thermostats are also all the rage as they learn your preferences and automatically adjust the temperature based on those patterns.
But if you want to go big, consider renovating around smart appliances. For example, you can turn your bathroom into a sanctuary with Japanese-inspired toilets that have added features such as mood lighting.
Self-cleaning toilets, infrared sinks, and Bluetooth showerheads are also the latest in bathroom tech. Think about it: a bathroom that plays your favourite music and adjusts water temperature automatically? It doesn’t get much more luxurious than that.
