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Making Space : The Financial Benefits of Efficient Home Design

organising small spaces

Making Space

Maximizing Space, Minimizing Costs: The Financial Benefits of Efficient Home Design

In the realm of real estate, the adage "bigger is better" has long been ingrained in the collective consciousness. However, as property prices continue to rise across the United Kingdom, the quest for more space often comes with a hefty price tag.

In this era of economic uncertainty, it's crucial to rethink the traditional notion of homeownership and explore the untapped potential of making the most out of the space we already have.

This article delves into the financial advantages of making space within your home, illustrating how a strategic approach to space utilization can not only save thousands of pounds but also eliminate the need for costly upsizing.

making space - garage wall storage

Making space with garage wall storage racks

The Cost of Square Footage:

Across various regions in the UK, the cost per square foot can vary significantly. In the bustling heart of London, where space is a premium commodity, property prices soar to unprecedented heights, with prime central areas commanding averages between £1,200 to £2,000 per square foot. Meanwhile, in the North of England, cities like Manchester may see a more modest range of £250 to £500 per square foot. Scotland, with its diverse property market, and Wales, offering more affordable options, present their own unique landscapes with distinct costs per square foot.(1)

Saving the amount of floorspace taken up by a table in the dining room or a couple of bikes in the garage could be worth up to £64,000 in London (2). At the very least, saving several square feet of floor space, anywhere in the country, could save a few thousand pounds as well as the cost and hassle of moving house.

Ways to make more space in your house

Join us on this journey of maximizing space and minimizing costs – where efficient design meets fiscal responsibility. In this article, we'll explore 10 easy and effective ways to reclaim your living areas and garage from clutter, giving you the freedom to breathe and enjoy your space.

Multipurpose Furniture

making space - folding desk/bed

The first rule of making space is to make every piece of furniture count. Invest in multipurpose furniture that serves more than one function. Consider a sofa that doubles as a pull-out bed, a coffee table with hidden storage, or ottomans that can be used for seating and storage. By choosing furniture with dual purposes, you not only save space but also add functionality to your living areas.

Wall Shelves

making space - wall shelves

When it comes to making space, the walls are your best friends. Install wall-mounted shelves to keep items off the floor and create an illusion of a larger space. These shelves are perfect for displaying decor, storing books, or showcasing your favorite collectibles. A tip: stagger the shelves for an eye-catching display that draws the eyes upward.

Under-Bed Storage

making space - under bed storage

Your bed isn't just for sleeping – it's also a fantastic storage solution waiting to be utilized. Invest in storage bins or drawers designed to fit under your bed. Use this space for items like seasonal clothing, extra bedding, or even shoes. It's a discreet way to save space and keep your bedroom clutter-free.

Downsize Your Furniture in Compact Spaces

making space - folding dining table and chairs

For smaller homes or rooms, consider downsizing your furniture. Opt for smaller-scale pieces that fit the proportions of the room. Choose a loveseat instead of a large sofa, and go for a compact dining table. This not only makes the space look larger but also provides more room for movement.

Think Upward in the Kitchen

 making space - kitchen racks

The kitchen is often a hotspot for clutter, but there's a solution – think upward! Install wall-mounted shelves or cabinets to store pots, pans, and utensils. Magnetic strips on the wall can hold knives, freeing up valuable drawer space. Make use of the insides of cabinet doors for additional storage – hooks or small shelves can hold everything from measuring spoons to cutting boards.

Foldable Furniture for Flexibility

making space - folding furniture video

When it comes to making space, flexibility is key. Foldable furniture is a godsend in smaller homes. Look for foldable dining tables, chairs, and desks that can be tucked away when not in use. This way, you have the option to create extra space when needed without sacrificing functionality.

Organise Closet Space 

 making space - closet organisers

Closets, wardrobes and and cupboards can easily become a black hole of disorganization. Combat this by installing closet organisers. Shelving units, hanging organizers, and storage bins can transform your closet into an efficient space. Take advantage of vertical space by adding hooks for accessories and bags.

Create a Garage Sanctuary with Wall Racks

making space - garage wall racks

Making space - garage wall storage ideas

The garage is often the catch-all for tools, sports equipment, and miscellaneous items. To save space and create an organized garage, install wall racks. Pegboards are perfect for hanging tools, while specialized racks can hold everything from bicycles to gardening supplies. This way, you can park your car without navigating an obstacle course of clutter.

Invest in Modular Storage for the Shed

making space - garden tool storage

heavy duty, high capacity, garden tool storage

Sheds are notorious for becoming a chaotic jumble of tools and equipment. Optimize your shed space by investing in modular storage solutions. Shelves, drawers, cabinets and wall mounted racks can be configured to fit the specific needs of your shed, providing designated spaces for everything from garden tools to seasonal decorations.

Space-Saving Appliances

making space - small appliances

In both the kitchen and laundry room, space-saving appliances can be a game-changer. Consider stackable washer and dryer units, compact dishwashers, and slim refrigerators. These appliances are designed to maximize functionality while minimizing their footprint, allowing you to make the most of your available space.

The Financial Implications of Upsizing:

The desire for a larger home often stems from the need for more space to accommodate a growing family, store belongings, or simply enjoy a more spacious living environment. However, upsizing comes at a considerable cost. Beyond the initial purchase price, upsizing entails additional expenses such as higher property taxes, increased utility bills, and elevated maintenance costs. Moreover, the financial burden extends to furnishing and decorating the additional space, a factor often overlooked in the initial pursuit of more square footage.

Saving Space as a Cost-Effective Alternative:

Photo by Kostiantyn Li on Unsplash

Contrary to the conventional belief that a bigger home equals a better lifestyle, the paradigm is shifting towards a more mindful and efficient approach to living spaces. By adopting a strategy centered around saving space, homeowners can unlock significant financial benefits. The most apparent advantage is the avoidance of the exorbitant costs associated with upsizing. Instead of investing in a larger property, individuals can strategically utilize the existing space within their homes, thereby sidestepping the need to stretch their budget to accommodate more square footage.

Smart Space Utilization: A Practical Solution:

The key to reaping financial rewards lies in smart space utilization. Imagine a home where every square foot serves a purpose, where furniture is not just functional but optimized for multifunctionality, and where clever storage solutions transform even the smallest corners into valuable real estate. By embracing the concept of making the most out of available space, homeowners can dramatically reduce energy consumption, lower maintenance costs, and curtail unnecessary expenditures associated with maintaining a larger property.

The Road Ahead:

Photo by John McArthur on Unsplash

As we navigate an era where economic prudence is essential, the paradigm of homeownership is undergoing a profound shift. Savvy homeowners are discovering that the path to financial well-being may not be paved with square footage but rather with thoughtful space utilization.

There are practical and creative ways to save space in every corner of your home, from the kitchen to the garage, offering insights and solutions that not only enhance your living experience but also safeguard your financial future

Conclusion

By incorporating these 10 clever strategies into your home and garage, you'll discover a newfound sense of freedom and tranquility. From utilizing vertical space to embracing multipurpose furniture, the key is to be creative and intentional in your approach. So, roll up your sleeves, declutter, and let the journey to a more spacious and organized home begin!

 

References:

(1) Average Cost per Square Foot: References (as per January 2023)

Please note that these figures are subject to change, and it's advisable to check the most recent data for the most accurate representation of current housing market conditions.

  1. London:

    • As of 2021, the average cost per square foot in prime central London was around £1,200 to £2,000.
    • Source: Mansion Global
  2. North of England:

  3. Scotland:

  4. Wales:

(2). Based on London square footage rate above and a table 8 x 4 feet or 3 bikes on a floor rack taking up the same amount of space.

 

Please note that these figures are subject to change, and it's advisable to check the most recent data for the latest and most accurate representation of current housing market conditions.


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