Buying property is a huge money outlay, and you can’t always rely on the market to increase the value of that investment. Sometimes though you can add quite a lot of value to your home with some simple renovations and additions. Here we have 5 tips on budget friendly ways to add value to your home.
Add a Parking Space
For most people, a front garden is a waste of space as it is rarely used and sometimes even quite noisy due to traffic passing by. The best use for any space at the front of the house is without a doubt a parking space. Covered or uncovered, a parking space adds a lot of value to your home, both as a rental property or at sale time as it is often one of the key make or break features people look for in a property. If your property backs onto a laneway, you could even consider converting part of the backyard to a car port. It’s cheaper than you might think.
Upgrade the Flooring
Nothing dates or devalues a property like old ratty carpet, or scratched dull hardwood floors. If you’ve got carpet, shop around for some discounted end of line inventory and refit new carpet throughout the house. For hardwood floors, simply have them refinished. Gleaming flawless floorboards immediately adds value to any prospective buyer.
Another feature of a house that can make a property look dated and gloomy is old light fittings and insufficient lighting. The worst are those amber glass hanging lamps that feature in many properties fitted out a few decades ago. Upgrading your light fittings can be a very cheap upgrade and will go far to modernizing the look and feel of the place. Don’t be afraid to add more fixtures if you feel the place would benefit from brighter lighting, and use clean white light bulbs.
A Fresh Coat of Paint
This may sound too simple a suggestion to even bother bringing up, but it is surprising how few people think about repainting before putting a property on the market. Add some bright yet neutral colours and some contrasting dark on the skirting, and you’ll give your property a new modern feel (and smell) with very little cost outlay.
Replace the Curtains and Old Blinds
Windows with curtains or old bent blinds do not do your property any favours. A simple upgrade to horizontal or vertical metallic or wood slat blinds will immediately give your property a newer look. Neither curtains nor blinds age well, so even if they are only a few years old you’ll still benefit greatly from what is comparatively a very cheap upgrade.
So there you have it, if you’re looking for some cheap ways to add value to your home before you sell it or put it on the rental market, look no further. Taking advantage of the above tips should go a long way toward helping you achieve a good return on your investment.