When it comes to a home’s aesthetic appeal it’s the little things that can make the biggest difference, and this is absolutely true of renovating to add value to your home.
Small, cosmetic updates or improvements can often be just as effective in adding value to a property as a major overhaul. They’re also potentially more cost effective as they avoid the risk of over capitalising, minimise the likelihood of a budget blowout and eliminate the need to hire costly trades people.
Making a strategic choice to update or refresh a few elements in the property can add significant value in capital growth or secure a rental increase, and there are a number of options owners can look at doing themselves.
Of course, you do have to know what you’re doing to achieve a good and value adding result. Researching, speaking to experts, and practicing or testing before you tackle the job yourself are a necessity, especially if you’ve never undertaken a renovation or DIY home improvement project before.
Painting is one of, if not the, best way to renew a property without having to engage a tradesperson. It can be a time consuming process, but well worth it. A pristine white coat of paint will always do wonders to freshen up any space.
For the novice, there are a few things to remember before picking up a brush. Prepping the space, filling in any cracks, sanding, sealing, and cutting in can be labour intensive and take some time, but will yield the best finish. Remember to seal any new plaster or if you’re painting an existing wall that is in a darker colour. The existing paint can bleed through the new coat if it's not properly sealed, and the only alternative is to paint on more coats, which can be more expensive in both time and money.
If you’ve grown tired of the brown bathroom tiles from the 1980s there are a couple of options available to breathe new life into the bathroom.
Digging up and removing the old tiles and laying new ones will take a fair bit of time and money, but can be done over a few weekends.
For a quicker and cheaper option, regrouting or a lick of paint can come in handy. Applying a special tile paint can often be the easiest and quickest way to rejuvenate a dated bathroom. As long as the tiles are in good condition, the whole process could be done in a weekend.
Changing kitchen cabinetry can make a huge difference for a relatively modest investment. It goes without saying how important it is to get a kitchen right, both in terms of functionality and for resale value. However, updating a kitchen doesn’t necessarily have to involve shelling out thousands for a complete gutting and replacement. Updating the cabinetry can be a very effective way of increasing the appeal of the area and adding value to the home.
If the kitchen is well laid out and the structure of the cabinetry is in good condition, replacing existing draws, cupboard doors, and bench tops can make a huge difference for considerably less money than a total revamp. A coat of special cabinetry paint or replacing small finishes (I.e. handles and light fittings) can go a long way to transforming the space; with a few modifications a kitchen can be completely transformed.
Importantly, these updates can be made without needing to engage a tradesperson, which will save thousands of dollars.
Before undertaking renovations, speak to a property expert about how to optimise your investment or the resale value of your home.
Robert Di Vita is a fully licensed real estate agent and REIV member. He joined National Property Buyers at the company’s establishment in 2011 as a Senior Property Consultant and has since secured quality property purchases for scores of owner occupiers and investors. In addition, Rob also has personal experience as an owner builder, having completed extensive renovations of his own home and numerous investment properties.
National Property Buyers is a full service property advisory firm based in Melbourne, Brisbane, and Adelaide, and offers Buyer’s Advocacy, Vendor Advocacy, Property Management, and Project Management in markets across Australia.
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