Over the years, real estate has proven to be one of the most stable investment options around, particularly for those who are able to buy properties in sought-after areas. Still, if you’re working within a budget, the right upgrades can transform even a relatively low-value home into an asset. Read on for tried and tested tips on boosting the value of your property without breaking the bank.
Upgrade the kitchen
The kitchen is the focal point of most homes, and a major selling point for any potential buyer; the catch is that it can be very expensive to renovate, particularly when it comes to adding or replacing appliances. Even if you hate your existing kitchen, you might be tempted to put off the renovation project for this very reason. The good news is that you can get results without taking on a floor-to-ceiling renovation project. Simple fixes like replacing worn-out knobs, faucets and bench top coverings often make all the difference, and they can be done for a few hundred dollars or even less.
Remodel the bathroom
In many homes, the bathroom has made the jump from a purely practical space to a luxury retreat over the past few years. Chic minimalism is high on the list of current trends in bathrooms, characterised by floating vanities, floating shelves and matte black hardware – and with features like benches, basins and free-standing baths also on-trend, there’s plenty of room to make changes on the (relatively) cheap. Just remember, if a long-term gain is the goal, you’ll be wise to avoid buying into the annual bathroom trends – a classic, clean minimalist approach never loses its appeal.
Even the slightest up or down-turn in external temperatures can take a building from pleasant to positively uninhabitable, so it’s important to be mindful of the impact weather extremes can have on your home, particularly if you’re in a naturally hot or cold climate. Depending on the size of your home, installing insulation may be a little pricey, but it will be well worth the investment come the peak of summer or the low of winter. Plus, by naturally regulating your inside temperatures, you can expect to save a whole lot of money on your power bills – a perk that will no doubt get future buyers on the hook faster, too.
Environmentally friendly design is one of the biggest trends of its time, and one that will carry on giving long after your smart devices are installed. There are plenty of ways to do it, too, which means you can start with something simple – low-flow toilet fixtures, for example – and still see a positive impact on your cost of living. Popular options include solar power installation, energy-efficient lights and appliances, and smart home systems that switch your devices off automatically. If you’re serious about capitalising on natural light and air, consider installing skylights or extra windows at various vantage points around your home. Future buyers (and current inhabitants) will thank you for it.
Create a home office
Since 2020 and the work-from-home revolution, a home office has been a must-have for those who spend their working days at a desk. Still, even if you haven’t already created an office space of your own, it’s not too late to jump on the trend – and add immediate value to your home in the process. Finding the right room for your W FH office set-up – a space with natural lighting and airflow that can accommodate your normal work set-up (and then some) – is very important. It’s all about creating a space that’s conducive to focus and flow so that you can get more done in less time – and save on the daily commute!
Give your home a new paint job
If you’re looking to sell soon and want to make a strong first impression on potential buyers, a fresh coat of paint is a great way to do it. Just remember that if you’re painting to sell, an avant-garde style may hurt your prospects more than it helps, so when in doubt, stick to a truly classic scheme. If you’re painting the internal walls, you can’t go wrong with a neutral colour palette, whereas the outdoors leaves you with a little more room for creative expression and visual drama. All you need is a roller, a paint tin and a few hours to spare – or, if you really want to up the ante and sell faster, you could always call in a professional and get the job done.
Your home is one of the most important and valuable things you can invest in, and when you do so wisely, you can continue to add value for as long as you live there. For maximum impact, stick to upgrades that represent long-term investments rather than passing phases, and hire a professional to do any more challenging DIY jobs.
Thanks to renovationkingdom.com.au for consulting.