7 inexpensive ways to add value to your property
For those that have ever done a renovation before, you’ll know that projects can easily run over the time and budget you had set aside. So whether you’re looking to improve the home you live in or add some extra value to your property before you sell, it’s wise to consider some improvements that will give you the best bang for your buck without having to engage a full blown construction company.
1. Paint and Carpet
When it comes to dollar for dollar return, you simply can’t beat a fresh coat of paint and re-carpet. This applies to rental properties as well as those being put up for sale. Paint and carpet make up the majority of the surface area when you’re standing in a room so a new surface can brighten the place up to no end.
2. Sliding Doors
Whether they’re French doors, glass sliders or bi-folds, opening up the rear of the home to the back yard can do wonders for the appeal of a family room or living area that might otherwise have been closed in. Not only does it make the area more accessible to the outside world but it brings a lot of light into the room and can make it a much more pleasant place to spend your time.
3. Rear Deck
Needless to say, you can easily boost the impact of sliding doors by adding a deck to the rear of the house. This allows the inside living area to connect seamlessly through to the outside, expanding the space that a family would otherwise spend cramped up indoors. Think summer bbq’s, family gatherings or wild parties. There’s very little that can be said against a good deck and they’re relatively affordable to install as well.
4. Attic bedroom
As more people push to live closer to lifestyle amenities and work centres, the need for space pushes to a premium. For the lucky few who have access to roof space, installing an attic room can be a real golden goose. Provided the roof has a steep enough pitch and the access point doesn’t compromise the downstairs layout, moving into the attic can add significant value to a property. To see whether this could be possible on your street, have a look for tell-tale signs in adjoining properties, such as dormer windows or skylights.
5. Front door upgrades
An unconventional improvement, but as they say, first impressions can be everything. If you’re looking to sell your home then you want to give it real street appeal. Installing a new garage entry door or having the front door freshly painted or replaced can make a world of difference to how the house is viewed upon arrival. Even making a feature of the front door can be a bonus – think high gloss red for a feng shui welcome!
6. Kitchen resurfacing
The kitchen can be one of the most lucrative rooms to renovate but also one of the most expensive. One of the best ways to keep things affordable is to bypass the demolition and keep the existing carcasses in place. If your existing kitchen has a layout that works, taking a tired old kitchen back to brand new can be as simple as resurfacing the doors, installing a new benchtop, retiling the splashback and replacing the oven and sink.
7. Converting laundry to an ensuite
While units don’t always offer the flexibility that houses do when it comes to adding value, adding a much needed second bathroom or ensuite can be a real bonus to the property. The best layouts offer the laundry next to the bathroom, so plumbing can easily be transferred through, and where the unit has 3 bedrooms, the second bathroom makes a huge difference to the value. These renovations are certainly at the higher end of the scale though and anything that deals with “wet areas” will always be more expensive.
So while full blown renovations can often be underestimated in terms of time and cost, don’t be afraid to add some real value to your property with small and affordable changes. Well placed improvements that have maximum impact on the appearance of the property are always the most effective and can make a big difference to your bottom line.