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Budget Friendly Home Improvements

Fixing and flipping your property can increase its value. There are many small changes you can make in your home that will make a big difference. Choose to do the improvements, either by yourself or by hiring an expert.

Firstly, do a budget and ensure you stick to it. Compare prices and quotes from different builders, building materials and interior finishes. Look around for good deals. Only use National Home Building Registration Council (NHBRC) registered builders. Keep yourself constantly updated on the progress of the building process. Always ensure that you only pay for the work that was stipulated on the quote.

Flooring

Floor appeal can go a long way in updating the look of your property. If you have an old, threadbare or dirty carpet, it is time to replace it. Discover what lies underneath your carpets as many houses have hidden wooden or parquet flooring. When buying wood, speak to a professional about which type will be best for your budget.

There are many different flooring options for you to choose from. Replace old carpets with laminate, vinyl or tiles for a more modern look.

Colour it up

Painting your property is an easy way to update the look of your home, both indoors and outdoors. Use good quality paint. Repaint your home in light and neutral shades to create the illusion of more space. Pay special attention to detail, repaint anything that is looking tired, including gutters, skirting and fascia boards, balustrades and gates. Transform old built-in wardrobes with some paint and door handles for a new look.

New fittings

Install flattering lighting in your bathroom and replace old taps, basins, mirrors, handles, towel rails and toilet seats. Re-glaze the bathtub to save costs rather than replace it.

Open plan

While moving or removing internal walls will add value to your home, beware of removing supporting walls to prevent the ceiling or roof from collapsing. Rather get professionals to do the job.

Less rooms

Losing a bedroom in your property will devalue your house. Rather reconsider losing a bedroom to create a bathroom or study.

Keep it neutral

Ensure you use decorations, paint and furnishings in a neutral colour. Do not use bright, garish colours and decorations that prospective buyers or tenants will not like. Carefully reconsider permanent fixtures and decoration such as kitchen cupboards, countertops, wallpaper and fireplaces which will be costly to replace years later.

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Originally published on 30 Mar 2016
Real Estate Investor Magazine - Issue 77 - March 2016
Real Estate Investor Magazine - Issue 77 - March 2016 View original