Recently I was invited into the home of a reader to give my advice on what improvements to make to their home, to help improve the value of the house. Money making home improvements need not be expensive to achieve, though not all improvements will add value, in fact some can be a real waste of money, that is unless they improve your lifestyle in a considerable way. Each of us are different in our hopes for our home, but if you are looking to renovate for profit, or to maximise the potential in your home, there are some real do’s and don’ts to consider.
Money Making Home Improvements
Kitchens Sell Homes
Updating your kitchen is a real winner when looking for the maximum profit from your home. Kitchens are the draw card for most homes, being the focal point of the home and relationships within the home. This area is worth investing in, it doesn’t have to be a high end top of the line kitchen, a Bunnings or Ikea kitchen is a sound investment. Keep your colours neutral to avoid offending potential buyers.
Spruce Up Your Front Yard
Again, this home improvement does not need be expensive. Consider the street appeal of your home, perhaps your house needs a wash, the gardens need a weed, fresh mulch and keep kids toys out the back. Keep your lawns mowed, and rubbish bins out of sight. Simple steps to keep the street appeal of your home as high as possible. If required, consider a fresh coat of paint, planting a new garden, or adding some car accommodation, all of these will help greatly to elevate the value of your home.
A Fresh Coat Of Paint Goes A Long Way
There is nothing like a fresh coat of paint, especially a bright light neutral colour to lift the value of your home. If you are looking to sell your home, this is a must! Be sure though, to keep the colour neutral so as not to turn potential buyers off your home. Whites, off whites and very light shades of colour are best in this situation. If you are looking to increase the equity in your home, there is nothing wrong with painting in colours that suit your family, just be sure they are as light as possible to help the valuer get a sense of space.
Declutter, declutter, declutter!
Potential buyers love to be able to imagine themselves in a space and nothing complicates that process like clutter. When selling, take away all clutter, put away your family photos, and keep everything as streamlined as possible. Open curtains (unless you’re looking at a brick wall) and windows, pick some flowers of some foliage and freshen your space. While selling I also highly recommend cleaning your pantry, kitchen cupboards and laundry cupboards, oh and don’t forget your wardrobe. Women in particular will commonly look at these cupboards to gauge the amount of space available.
Replace Light Bulbs
Nothing says run down like blown light bulbs. You can fix this problem simply by spending an afternoon changing blown light bulbs. Don’t forget to replace bulbs that are not bright enough.
Repair Anything and Everything
Your small repairs are best done as quickly as you are able to prevent a bigger repair being needed at a later time. If you have a door that doesn’t quite close properly or windows that don’t open, call a handy man and get them fixed. Broken windows need replacing, likewise any holes in the wall should be patched. Don’t forget that squeaky hinge, give it a little grease and those leaky taps need to be repaired as well.
Bathrooms Need Special Attention
Bathrooms are nearly as big a selling point as kitchens, especially for women. If updating your bathroom is out of your reach, be sure to give it a thorough scrub, fresh towels and a candle will also help to spruce it up. No-one wants to buy a house with a dark, dirty bathroom.
When selling a home, or renovating for maximum profit take time to think how your target buyer would think. Are they a young couple ready to start a family? A family of 4, would a retired couple look to purchase your home? Make improvements with these people in mind. Remember, fresh, bright, clean and decluttered are your very best tools for maximum profit.
Are you buying or selling your home? Have you thought of home staging? What is your best tip?