Increasing the value of you current home, could increase your potential borrowing power for your next home or investment property. Even small improvements can give your property a fresh, appealing look and increase your chances of getting the best return on your investment. Fortunately, you don’t have to break the bank with expensive renovations. Here are some simple, yet effective DIY hacks to increase your home’s value on a budget.
Focus on High-Impact Rooms
When you aim to increase your home’s value without overspending, concentrate on making improvements that deliver maximum impact with minimal investment. Consider small updates that enhance a room’s functionality. Home improvement doesn’t have to be synonymous with significant expenses. Here are some key rooms that, when upgraded strategically, can add significant value to your home:
1. Revive Your Kitchen
The kitchen is a focal point for many homeowners. It’s one of the first areas to consider upgrading before selling. You don’t need a complete makeover. Start by updating the flooring, perhaps opting for cost-effective vinyl. Refresh cabinet doors with new paint and fixtures. Laminate bench tops are a budget-friendly choice for revitalising countertops. Consider a new splash back, either through thorough cleaning or affordable stick-on tiles.
2. Create a Relaxing Bathroom
A basic bathroom renovation doesn’t have to be expensive. Begin by updating sink, bath, and shower fittings, such as taps, shower heads, and handles. A fresh coat of paint on the walls can provide a new look. Add small details like scented candles, indoor plants, stylish soap dispensers, and a makeup mirror to enhance perceived value.
3. Maximize Bedroom Space
Convert a spare room, often used for storage or as a study, into an extra bedroom. This not only adds value but also attracts more buyers. For existing bedrooms, repaint them and consider adding extra storage like built-in robes or shelving. Prepare bedrooms for staging with plush finishes like bed throws, cushions, rugs, and fresh flowers.
4. Enhance Your Living Room
Make your living room comfortable and functional. Neutralize wall colours to open up space, and maximize light with additional lighting options like floor lamps or light-colored shutters. Convert awkward nooks into useful storage areas and invest in smart home technology for added appeal.
Adding Value on a Budget
You can increase your property’s value without spending a fortune. Here are some cost-effective strategies to prepare your home for appraisal:
1. A Fresh Coat of Paint
Repainting a room can give it a brand-new feel and brighten your home’s interior. Opt for neutral colours like whites and creams to create a bright, inviting atmosphere.
2. Curb Appeal
Boost your home’s first impression by enhancing its curb appeal. Mow the lawn, pressure wash the exterior, fix broken fences, add outdoor lighting, and plant new greenery.
3. New Flooring
Flooring has a significant impact on your home’s perceived value. Steam clean existing floors or, if necessary, replenish timber floorboards. Installing new flooring is possible without breaking your budget.
4. Declutter and Clean
Remove clutter and give your home a deep clean to make it fresh and inviting for potential buyers. This creates an open living space that appeals to buyers.
5. Update Fittings and Fixtures
Give doors, cabinet doors, and drawers a facelift with new handles. Replacing old light fittings and switch plates can add value with minimal effort.
6. Create Inviting Spaces
Focusing on key rooms like the kitchen, bathroom, and living room can significantly improve your home’s appearance and function.
In summary, you can add value to your home without overspending. By strategically upgrading key areas and considering budget-friendly improvements, you can make your property more appealing to potential buyers while maximising your return on investment.