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The value of renovating your home

There are plenty of reasons to renovate your home…

You might be looking to expand your current living space, repair some long-term wear and tear or simply add value before selling your property in the future.

Whatever your goals are, the initial cost of making material improvements to your property is often a good investment in the long run - if you use the money wisely.

Common renovation projects

Some of the most common renovation projects undertaken on properties in Bermuda include:

  • adding an extension to your main property
  • converting a basement, loft or garage
  • knocking through a wall to create a bigger room
  • repairing and future-proofing your home against weather damage

However, you could also put the money towards making more modest improvements, such as:

  • installing a new generator
  • replacing your kitchen or bathroom
  • replacing doors or windows
  • fitting solar panels to your property

The best ways to add value

Even if you're not planning to move to a new location in the near future, it’s never a bad idea to add some value to your home. If you ever do choose to sell, it can make the property more attractive to buyers, allowing you to ask for a higher price.

Home extensions

A home extension is a tried and true way to increase your property value, particularly if you choose to add more bedroom space. With so many people working from home in recent years, having a dedicated home office space is also increasingly desirable for new buyers.

Garage conversions

You could also look at converting your garage into a working space that is separate from your main property. This will involve less inconvenience to you while construction work is carried out, and it can have many other uses if you don’t need the space as an office - such as a gym, a children’s play area or a home cinema.

Solar panels and energy efficiency

As we become more conscious of our impact on the global climate, more homeowners than ever are prioritising sustainability and carbon efficiency in their home lives. Installing solar panels is a great investment that could bring down your annual energy costs while also making your property much more attractive to new buyers. Other renovations such as improving your insulation can also have a positive impact.

Repairs and weather proofing

We all know the toll that the weather can take on homes in Bermuda over time. From wind and water damage during hurricane season to general wear and tear, over time the value of your property can drop significantly if these issues aren’t addressed. 


Before embarking on a renovation project, it is important to ensure that you have all the necessary permissions. You might need planning permission to make certain extensions, and you should check if the work you carry out could have an impact on your land tax rates.

It is also important to ensure you work with qualified, trustworthy contractors to carry out the work on your behalf. Always do as much research as possible, and ask for recommendations from family and friends to help find people and businesses with a good reputation. 

Ways to fund a home renovation project

HSBC Home improvement loans

A HSBC Home improvement loan can help you to finance many key renovations including a new kitchen, a loft conversion or updating your furniture. It's conveniently separated from your mortgage, with zero down payment required and competitive interest rates starting at 6.75%.

Find out more

HSBC Construction loans

For larger projects such as building a new property or making major home extensions and renovations, a HSBC Construction loan can offer repayment terms up to 30 years, with interest-only repayments while the construction work is being carried out.

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HSBC Energy Efficiency loans

Did you know that HSBC can offer our best short-term loan rates if you're buying environmentally-friendly home renovations?

We could help you to cover the cost of installing solar panels, water heaters and other energy saving enhancements with interest rates as low as 6.50%, zero down payment and up to seven years to repay the loan.

Find out more

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