March 13, 2015
If you are thinking of upgrading your home, perhaps you will need to sell your current home before you can upgrade, or perhaps you are in a position where you could rent out your current home and move into a new one.
Either way, the first step is to do your best to increase the value of your home, without over spending.
Here’s our ten tips to help you easily improve the value of your home, on a minimal budget:
1. Light up your lifestyle
If you haven’t changed a light bulb at your place for a while, new lighting fixtures, and the right glow of bulb can instantly update the look and feel of your home. Most home improvement stores have great DIY options that are inexpensive, and easily add a current look to your home.
There is nothing worse than walking into an open home and seeing the family photos of complete strangers all jammed together on the outdated buffet next to the overcrowded shelves with a million dusty nick-knack’s that have been collected over the years.
This step costs next to nothing – it’s as cheap as getting together a few garbage bags and boxes. Then getting your hands dirty and your mind into de-clutter mode. Either throw it away, or pack it away. De-cluttering prevents people from getting distracted by your life and how you live it in that space. You want people, (and the home valuer), to see past your clutter to the fabulous architectural glory of your home.
3. Storage, storage and more storage
As a seller, you want your home to look organised, spacious and very open. As a buyer, you want as much storage as you can get your hands on. If your wardrobes are not built in, add a basic wire rack to improve their efficiency as a storage space. If you have rooms without wardrobes, add a freestanding wardrobe. Any storage is good storage, however try not to frequent the op shops for outdated styles that won’t suit your home. Pick some modern, inexpensive flat pack options that will bring a clean crisp feel to that bedroom, not make it more dated than it was already.
4. A fresh coat of paint
Painting a room is the easiest and cheapest way to lift it up and bring it into the modern era. If your home is still rocking the terracotta and/or pastel styles from the 90’s, perhaps it’s time to get down to your local home improvement store and pick up a paint brochure with the latest ranges of colour swatches – already styled and matched for you. All you have to do is pick up the paint, grab some brushes and paint the 90’s away.
5. Create extra seating areas
If your home has an outdoor area without furniture, add some. An empty deck area, patio, or stone terrace can become an instant second dining area, or reading/relaxing nook. Furniture in these spaces creates a destination, and emphasises the size of the extra areas you have in your home.
6. Update your kitchen and bathroom cabinetry
If you have dark, tired woodwork in your kitchen or bathroom, a simple solution to freshen it up is with a simple coat of paint. You can save a fortune by painting the cabinets instead of buying new ones. Adding new door handles to update the look is also an inexpensive value add. If your budget allows, re-tiling your splashback, or even replacing, or re-spraying your bench tops can create a wonderful new look kitchen on a very small budget.
7. Shiny bathrooms
Painting is the common theme here, and the bathroom is no exception. Tile paints these days have come a long way and they can easily turn a dark and dingy bathroom of drab tiles into a clean, fresh, bright, light and modern space. New fixtures such as taps and faucets don’t need to be high end, but can really make a big difference to any outdated bathroom. If your budget doesn’t stretch that far, at least some good cleaning supplies that can bring the shine back to your bathroom will give the space an instant facelift.
8. Invent a new room
These days extra living space is a general expectation of buyers - think two living rooms, study’s, nurseries, media rooms, rumpus rooms, games rooms, play rooms, gyms or crafting rooms. The problem is, the majority of older houses simply don’t have these spaces available. If your floor plan has an attic, convert it to a play room for the kids. If you have a spare bedroom, set it up as a multi-purpose room so potential buyers can see how it could be used as different spaces. If you have a basement, perhaps convert it to a handy storage space or gym. Decoration is key here, ask your real estate agent what the buyers are looking for in your specific area, and decorate your spare room in that way.
9. Landscape for that extra pop of colour
Plants placed in the right area, like in decorative pots at the front entry, or in outdoor areas along fence lines or around the perimeter of a deck, create instant curb appeal, especially if they are full of colour and vibrant life. Clean up your gardens, hedge your trees, tidy up any outside areas in general and perhaps plant some new foliage to create a welcoming outside space. Many farmers markets have very inexpensive plants for sale that can instantly add value to your home at a fraction of the cost of the larger nurseries or home improvement centres.
10. Style it right for your home type
If you have an old Queenslander, a slick modern minimalist style is probably not going to work. A slick modern home with old style country furniture may not work either. Every home has a function, and personality. Style your home with that in mind, and don’t add extravagant things to it if they aren’t the style that works with what is already there. Young families are not looking for elaborate spa baths in the master bedroom, so don’t add one. Focus on the yard instead. Choose light fittings, accessories, paint colours and carpets that will work for anyone, not just your particular taste or style. When decorating or styling, keep it simple, that’s the key to adding value.
So now that you know how to add some value, what is your home worth? Mortgage Choice offers more than just home loans. If you would like a Free Property Report, please click on the ‘Free Property Report’ section of Daniel's website and he will be in touch with you shortly.
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For further information on buying your next home, there is a range of information just a click away including;
How a Mortgage Choice broker can help if you are thinking of upgrading.
If you are ready to move on up,
Or, for further information on this or any other topic, please contact your local Mortgage Choice broker,
Daniel Meade on:
Phone 07 3833 9666,
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Daniel is looking forward to helping you with your home loan options today. Thanks for reading our blog.
This article is for general information purposes only and does not constitute specialist advice. It should not be relied upon for the purposes of entering into any legal or financial commitments. It has been prepared without considering your objectives, financial situation or needs. You should, before acting on the advice, consider its appropriateness to your circumstances, and specific investment advice should be obtained from a suitably qualified professional before adopting any investment strategy.