If you’re looking to increase the value of your home but don’t want to spend a fortune, there are a number of simple renovations to add value to your home that won’t break the bank. Kitchen, bathroom renovations and home extensions are always the top of the mark but follow the classic rule of ‘you’ve got to spend money to make money.’ However, if you don’t have an extra $50k lying around (which most of us don’t!) it’s worth while being a little more strategic with your funds. To help you, we’ve taken a look at some simple renovations to add value to your home, and a rough estimate of your return on investment.
Simple renovations to add value to your home:
> Create an outdoor entertainment area
With some of the best weather in the world, it’s understandable why Australians love outdoor entertaining so much. No matter the size of your land, a well thought out outdoor entertainment area can make a huge selling point for prospective buyers, and not only increases the perceived value of the home but can often be the clincher when it comes between choosing your home and another. There are plenty of options when it comes to updating the look of your backyard, including building a deck, investing in some quality landscaping, or creating a dedicated BBQ area. Adding a deck or terrace to your home can cost anywhere between $8,000 – $25,000 and can add value up to $100,000 depending on where you live.
> Curb appeal
You’ve likely heard about curb appeal before, but exactly how valuable is it? If you think about it, curb appeal is the first thing a prospective buyer sees about your house. It’s their first impression of it and will give them an idea about whether or not they want to go inside. Some common ways you can add to your home’s curb appeal include painting the outside a different colour, upgrading your fence, investing in your garden front and creating a nice pathway to your door. According to a study, a nice home front can increase the perceived value of your home by up to 11%.
> Change your flooring
Outdated tile flooring or tired carpet can drag down the entire look your home but is a relatively simple problem to fix. If in doubt of what kind of flooring to choose, you can’t go wrong with wooden floors as it’s one of the most easy renovations to increase home value. If you’d prefer to keep the costs down, you can opt for laminate flooring that replicates the look of wood. Changing your flooring can completely transform the look your space and help create a seamless transition from room to room. Solid hardwood flooring can expect to earn as high as 106% return on investment, with many
> Update your kitchen
When it comes renovating your kitchen, you don’t necessarily have to get a full renovation. Mini kitchen makeovers are designed to update some of the cosmetic parts of your kitchen intact, such as your cabinets or benchtop, whilst still keeping the framework intact. If you think your kitchen is looking a little outdated, chances are prospective buyers will too. Mini kitchen makeovers allow you to change the look of your kitchen without spending a fortune and can be simple as painting over cabinets or changing the hardware. If you do plan on spending that little bit extra, a full kitchen renovation can add anything from $20,000 – $60,000 to your home.
Award Winning Group Renovation Company
If you’d like any more tips on simple renovations to add value to your home, get in contact with Award Winning Group North Brisbane builders today. We specialise in in easy renovations to increase home value, and offer services ranging from kitchen renovations to outdoor entertainment areas. You can call us on 0423 296 698 or request a quote online.