home renovation, HOME REPAIRS + MAINTENANCE, REAL ESTATE

How to add value to your property without overspending

how-to-add-value-to-your-property-without-overspending

Whether you are moving home or have been living in your property for a while, there will come a time that you will need and want to update your home. This may just be to freshen the look and design of it but you should make sure that everything you do not only makes you happier but that it adds value to your property. 

The process of taking on home redecoration can be fraught with potential anxiety as well as lots and lots of costs. With all home improvements, planning is essential. One in four projects goes over budget. Even on the TV home improvement shows reveal that the homeowners always overspend. It is worth doing the extra planning work upfront to avoid this. 

Follow these tips and tricks to make sure that you can boost your home’s value without breaking your bank. 

Flooring 

Considering that this is something that you constantly walk upon and probably rarely look at, flooring can really affect how your home looks and feels. If you have had a carpet for a while, you may want to think about changing to wooden flooring. If you already have wooden flooring, you could try a natural wood stain to change the color and make sure the floor remains sealed and looked after. These little ideas can really improve your home for a little cost.

Recent trends have shown that the wooden floor aesthetic is incredibly popular right now. Full true wood can be expensive and difficult to install. However, you can invest in vinyl flooring or laminate flooring in order to rejuvenate your home without having to spend loads of money. Also, they are really easy to install without the cost of hiring a fitter. 

Budget

Speaking of spending money, knowing what your budget is, is essential when it comes to redecorating your home. As well as this, you need to know what estate agents call the ‘ceiling price’ of your home. This is the maximum price you can expect to achieve based on similar properties in your area.

Even if you were to turn your house into a palace there will still be a limit on how much people will pay when it comes to the area that you live in. It is worth speaking to local estate agents before committing to any major plans as they can guide you when deciding how much money you can spend on your improvements and still recoup your money when selling your property.

Converting your garage

If you have off-road parking and depending on the area in which you live, you may find converting a garage can significantly increase the value of your home. In some cases, this can be as much as 10 to 15 percent. Getting extra living space that you don’t need to add an extension for is an invaluable asset in such a crowded property market.

If your garage is attached to your house, then you should be able to convert it into another room between $10,000 to $20,000. This can grant you extra square footage. However, your options are not limited to another bedroom. You could convert the garage into something that you need or want such as a home office, a gym, a playroom, or a bar that you can invite your friends around. Quirky ideas like these will increase the value of your home exponentially.

Knocking down walls

If you find that you have lots of smaller rooms divided by walls that are not load-bearing, then you could knock one or more of them down to increase the flow through your home. If you have a little bit of technical knowledge how then you can even do this yourself.

The modern market shows that most people prefer to have a large kitchen or dining room rather than a small kitchen with a separate dining room. Additionally, if you have multiple living spaces adjacent to each other then you may be better off knocking down the walls to create one luxurious and large space. This is a minimal cost to double the amount of space you have in these rooms.

Updating your kitchen

The popularity of open kitchens and dining spaces has transformed the kitchen into the focal point of many homes. They can provide everything from the dinner table to the place where people do homework. Basic makeovers like changing fixtures and fittings like the door and drawer handles and adding energy-efficient appliances can make a huge difference without a large cost.

Fitting a completely new kitchen can increase a home price by up to 10 percent and as such is one of the more lucrative ways to increase the value of your home. Though it will cost you upfront.

Adding bathrooms

Adding an extra bathroom or an ensuite onto one of the bedrooms can not only make your life easier in the long run especially if you have a family but also increase the value of your home. It is a huge selling point for any home if it has bathrooms upstairs and downstairs as well as if they are joined to bedrooms.

One thing that you should be aware of though is what room to make into a bathroom. If you have dead space or extra unused storage space, then they are ideal for conversion. However, you should never give up a bedroom for a bathroom. Instead, you should look at carving space from the larger rooms like the master bedroom to make sure for an extra bathroom.

Improving the value of your home

There are plenty of options out there to improve your home. Some will be much more expensive than others. These are often dependent on your own ability to do things yourself without outside help and what space you have available.

Things like converting dead space are really easy ways to increase value to your home. You need to take stock and plan your home with care but also boldly. Don’t be afraid to go outside the box. Speak to local builders and architects who may be able to inspire your new home.