If you are looking to add value to your home before you sell, then some simple renovations are a great way to help maximise your return. But when on a budget, how do you decide which renovation projects are worth investing in and which ones are not?
You really don’t need to spend a lot of money or undertake major projects to make your home more appealing to buyers. Some of the most effective improvements can also be the simplest and can get you the most bang for your buck. Getting over-excited by going ‘all out’ and selecting expensive fixtures and fittings can be a rooky mistake and could cause you to over capitalise.
Before you begin you need to have a plan and work out where your dollars are going to be best spent. Here are a few ways you can get maximum impact without going over budget.
A Fresh Coat Of Paint
Painting is probably the simplest and most cost effective way to transform your property.
Giving your interior walls and ceilings a fresh coat of paint will breath a new lease of life into your home, make it look bright and fresh and will also erase any signs of wear and tear.
Neutral colours will ensure your home won’t go out of style and will appeal to more prospective buyers. It may seem like more fun to give each room a different look, but selling a home is not the right time to get adventurous with colour. The pink feature wall and purple furnishings you love so much may not be so appealing to buyers. Keeping things simple is always a winner.
When selecting your colour scheme begin by buying a few test pots, paint them on some card and place the cards in different areas around your home. By doing this you can see how the colours sit in your space. It is good to remember that colours often look different in your home than they do on the small swatch in the paint shop.
To save extra dollars you could consider doing the painting yourself. Maybe invite some friends and family over to help and you will have it finished in no time.
Refreshing your Kitchen
It is a known fact that kitchens sell properties – the kitchen is one of the biggest selling points of any house. If you have an amazing home with a not-so-amazing kitchen then you are missing out on some big dollars.
However, kitchens can also be the most expensive room to renovate, which may not be an issue if you have the budget. But you don’t have to rip out the whole kitchen and spend thousands of dollars to improve the look of the kitchen. It is possible to revitalise it on a tight budget and still add value to your home.
Repainting existing cabinetry and replacing the door and drawer handles will give your kitchen an instant uplift and bring it up to date while still being easy on your pocket.
If you have a little more in the budget, you could consider replacing cabinetry doors and drawers without replacing the existing frames. This will give the kitchen a whole new lease of life and appeal to buyers. A new benchtop will also make a big impact with minimal costs, as will replacing old tapware with new ones.
For kitchens that have enough room, adding an island will increase bench space as well as improve functionality.
The bathroom is another room that is a big selling point in a property. No-one likes to see a tired, old looking bathroom in a home that they are about to purchase.
In saying that, as with the kitchen, you don’t need to rip out the whole bathroom and do a full renovation to add value to your home.
A simple and refreshing paint job, even on the bath and tiles, can give your bathroom a whole new, fresh feel. Sticking to white will ensure your bathroom looks clean and bright and will also make the room appear bigger.
For those needing a bit more, one of the quickest & easiest ways to modernise your bathroom is to replace the vanity. It’s one of the key items in any bathroom and will be noticed by potential buyers. Selecting one with plenty of storage is important as to keep surfaces clear and tidy.
Another simple but effective change is to update your toilet. No-one wants to see a tired, old toilet in their potentially new home. If budget doesn’t allow for you to replace the whole thing, consider updating the seat and lid only and giving the rest some good old elbow grease!
Adding some new tap ware and towel rails will also modernise your bathroom instantly too.
Replacing old curtains and window coverings is a great way to transform the look of your property. Installing new roller or venetian blinds are cost effective and durable and will open up the space, give a more modern feel to your home and will allow natural light to filter in. Installing the correct sizes and keeping the colours neutral will appeal to a wider spectrum of potential buyers.
Replace The Flooring
Replacing old flooring shouldn’t be underestimated when it comes to giving a property a much-needed cosmetic overhaul. Unless your home has polished hardwood or a good condition tile, replacing the tired, outdated flooring before selling can certainly add value to your home. There’s nothing worse than dirty, old worn-in carpets. Replacing these will give your space a fresh, modern feel. Laminate flooring is growing ever more popular throughout many homes and won’t break the bank.
Spruce Up Your Outdoor Areas
Having fantastic street appeal is imperative to getting your home sold and for the best price. An overgrown, neglected garden and broken fencing is not setting a good standard for the rest of the home viewing and will turn-off prospective buyers. A buyers first impression of a home is crucial so having an enticing street appeal will prompt buyers to imagine an amazing interior.
All your outdoor space may need is a mowed lawn, a quick prune and de-weed and a clean up of the plants and guttering. Pressure hosing paths and driveways give a new feel to them and make sure the fencing is clean and sturdy. Clean gleaming windows also give a good impression.
If you have a few hundred dollars to spare in your budget, a few well chosen plants and shrubs can transform a garden bed. Add some fresh mulch to freshen up the garden and maybe give fencing and/or the front door a fresh lick of paint?
Obviously keeping your home clean and tidy during open day is a no brainer. Clearing toys, pet items and general clutter will always help make your home look presentable.
But also, while personal items such as travel souvenirs, trinkets and family photos may spark joy for you, they can hinder potential buyers seeing themselves in the space. Removing many of these items and keeping your home completely clutter free will allow potential buyers to imagine their own belongings in the house.
Style To Impress
These days, Home Staging (or Property Styling) has become hugely popular due to the considerable return it generates. Having your home professionally styled for sale purposes is proven to add value to your home. It’s all about making a property as appealing as possible to potential buyers and entices them with a move in ready look.
If budget doesn’t allow to get the professionals in, you can always have a go at styling your home yourself. Use what you can of what you already have, however you may need to invest in a furniture piece or two and/or accessory items. Keep things neutral, cohesive and clutter free is important.
It’s good to identify who your target buyers are. Staging your home for professionals or investors will look different to how you stage it for young families or downsizers. Each demographic will have different needs and wants so your styling should reflect these.
And as mentioned above, declutter, declutter declutter!
With a little effort you can make some small improvements to your home to potentially add thousands of dollars to its value at a fraction of the cost. It’s surprising how the little touches can make a big difference in getting a great price for your home.