Renovating for profit: squeezing more out of your home
Renovating for profit seems easy enough, but carrying out a cost-effective and quality renovation is easier said than done. Creating a profit is all about minimal investment for maximum return, and as we know, renovations can be a major investment – both of time and money.
So where can you get the best value when renovating for profit?
Kitchen: the heart of the home
They say the kitchen is the heart of the home – it’s the place where everyone congregates morning, afternoon and night, where conversations are had over the dinner table and where meals are created. They also say that kitchens sell homes. With the addition of modular kitchens, it is easier now more than ever to update your kitchen on a budget.
Bathroom: the inner sanctuary
Your bathroom is a place to escape. It’s the one place in your home where you can be alone. Like kitchens, bathrooms are a key selling point within a home. Buyers often look to multiple bathrooms, and well organised, considered spaces. If a full scale renovation is not in the budget, look to how you can improve your space. Things like added functionality through storage, refreshing the look with new tapware or even luxury items like heated towel rails can go a long way towards the overall impression of your home. Pinterest can be a great source for bathroom inspiration.
Paint: a cosmetic lift
Paint is like makeup for your house. It gives it an instant lift and brings it to life. Paint is a simple but powerful renovation tool that can take your house from drab to fab – and the best thing is that almost anyone can do it! Look to subtle, classic colours for best results that will appeal to the broadest range of potential buyers.
Flooring: what’s underfoot
Floor can instantly decrease the impression of value in your home if it is out of fashion or of poor quality. Daggy carpet, dated tiling and old fashioned materials like lino can contribute to your house looking cheap or poorly cared for. Splurge on plush carpet for bedrooms or consider polishing floorboards for a touch of class.
Garden: the outer beauty
You gotta have a bit of street cred. You can get the exterior of your house into tip top shape with minimal spend, and the impact it will create will be exponential. Invest in a variety of native plants for best results.
Decking: a place to party
Adding a decking area to the front or back of your house provides an instant entertaining area while maximising your outdoor space. If budget allows, create a space that is sheltered enough to be enjoyed in all kinds of weather.
You don’t need to fork out a fortune when renovating for profit. Invest in the right areas and renovate intelligently for a big reward that won’t break the bank.