Sorting out finances is a large part of obtaining homeownership. For many, getting on the housing ladder is a dream that they only realise after they reach a certain level of financial stability. By building up wealth, credit ratings and banking credentials, people looking to own a house will find it easier to take out a loan or mortgage, and be realistic when budgeting for both initial and long term costs.
As well as different methods of finance, potential homeowners have different options for purchase. New housing developments are ready for residence; older buildings may require some refurbishment that can be completed overtime. Another option is to buy land and contract a builder for a new house. In upcoming areas in Australia, places like Donnybrook, Victoria, offer plots of land for sale, so the owners can design their own dream home. This option is often more cost-efficient and allows greater financial freedom to develop a home.
With greater financial liberty, what are some fun additions that can add value to your design?
Smart homes are the future. By installing smart equipment in your home, and downloading smart apps onto your phone, you will be able to manage your home with greater efficiency and convenience. Features that can easily be accessed through a smartphone include temperature regulation, lighting control, and home security systems. When deciding upon smart devices, research the pros and cons of wireless and manual control so you understand the trade-off.
For many households, the kitchen is the heart of the home. With the increased popularity of open plan living areas and the migration of the dining room, living room and kitchen into areas of one space, the kitchen, is often the hub of activity. This is where the family increasingly spends time together. If you have space to spare on your ground floor, consider expanding the kitchen area to accommodate two islands. A big kitchen is an area for more informal entertainment and eating as well as food prep, washing and other domestic chores.
Traditional wine cellars are found in the basement where the cool, dark conditions are ideal for storing wine, keeping bottles safe from sunlight, heat and vibrations.
If building a cellar is too expensive, a popular alternative is installing the wine cellar underneath the staircase. Not only is it accessible, but it maximizes the space in the ground floor, too. Glass panels make an attractive display, the unit can be refrigerated to cellar temperature, and the doors can be lockable.
Cold floor tiles in the winter can be jarring, especially since the heating system is hard at work in keeping the rest of the room warm. To prevent any unpleasant surprises when roaming the house, install heated floors. Heated flooring keeps a room’s overall temperature uniform, and cancels out drafts and cold spots. You can select separate rooms or install the system throughout the house.
Sound financial planning and achieving financial stability will allow you more options when considering homeownership. You’ll be better able to accommodate your family’s lifestyle and their changes over the longer term.