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4 affordable ways to increase the value of your home

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  • 30 Oct 2017

Massive renovations don’t always deliver the best return on investment when you’re selling your home. So if you’re borrowing money to make home improvements, consider implementing relatively inexpensive aesthetic changes that can substantially increase your home's value and appeal. 

Most property experts agree that first impressions count and a house that looks clean, cared for and is well-maintained will sell for more than an equivalent property that isn’t. 

DirectAxis, financial services, shares tips… 

1. Kitchen makeover 

Kitchens feature near the top of most industry insider’s lists. Most people still consider the kitchen to be the heart of the home and it’s often the first space potential buyers look at. 

Simple upgrades such as adding new door handles, replacing old light fittings with modern ones, installing brighter lights, fitting or re-facing cupboard doors and installing modern taps can help transform a kitchen. 

2. Bathroom remodel 

Bathrooms are also a priority feature. To keep costs down, avoid changes that involve reconfiguring the plumbing. Again, replacing taps or lighting can make a big difference. 

You may consider upgrading old, chipped or damaged baths and sinks, regrouting tiles and replacing old-fashioned built-in cupboards and other fixtures with modern, freestanding units. 

When making improvements, use off-the-shelf products. Customised features are expensive and often require specialist installation. 

The same keep-it-simple philosophy applies to colour and design choices. Most surfaces look better after a coat of white paint. 

Neutral colours and a simple, elegant style are most appealing to prospective buyers, who are able to imagine what they would do with the space. 

Also try to use everyday materials in creative ways. For example, multiple coats of high-gloss paint will make standard wooden doors gleam. An affordable piece of zinc or Perspex could make for a perfect kitchen splashback. 

3. Revamp floors and surfaces 

The secret to getting the best value for the money you spend is to upgrade, not overhaul. 

The same applies to floors and other surfaces - repaint or refresh rather than replace. Ripping up old floors or re-carpeting is expensive. To save a buck, varnish or polish wooden floors and get carpets professionally cleaned. This will make all the difference at a fraction of the cost. 

It’s worth checking what’s under a tatty carpet too. A stained, threadbare carpet could be covering a beautiful, original parquet floor. 

If you’re laying a new floor, consider concrete. Polished concrete floors can look fantastic and are much cheaper and easier to maintain than wood. 

4. Improve kerb appeal 

Estate agents will also tell you that kerb appeal is important. 

To add to the property’s attractiveness, the exterior needs to look good. The garden should be well-cared for and the lawn should be mowed, the approach must be swept, kept weed-free and clear of overhanging branches and the front door should be freshly painted with a bright new knocker. 

On the subject of gardens, landscape wisely. Plants can hide a multitude of sins. Again, avoid major earthworks. 

Use woodchips to cover sparse borders and position shrubs and flowers to enliven views from the windows. 

Homes in a neighbourhood tend to vary by as much as 10% from house to house if all other things are equal. So some simple improvements could make a big difference in how quickly your house sells and the value you get for it.

 

Original article: Property24