Buying a home is one of the largest investments that you will ever make in your lifetime. To get maximum value for your property investment, it’s important for home owners and investors alike to do what they can to increase property value. You don’t need to renovate whole areas, simple DIY home maintenance projects can make all the difference in your living space.
Whether you’re wanting to add value to your family home or investment property, many factors influence how much money your property is worth. Some homeowners invest in their homes and some don’t. If you’re looking for ways on how to increase property value, we’ve put together a few tips and tricks to help.
1. Add a fresh coat of paint
Adding a fresh coat of paint to the exterior and interior of your investment property is one of the best ways you add value to your home. A coat of paint can instantly transform a room and make it feel brand new again. Want to change the colour scheme, why not add a feature wall? A paint job is also a perfect option for those on a budget as you can easily do it yourself. Plus, painting the exterior can also help you boost your street appeal which is one of the biggest selling points for a home.
2. Do some landscaping
Not only does landscaping add value to your home, but it also is great for the environment and helps with energy efficiency. You don’t have to be a gardening expert to plant some trees or flowers. When it comes to landscaping, you also don’t have to start from scratch, simple garden maintenance can make all the difference to your property value. Clean up your lawn, plant flowers or bushes and add a new mailbox. First impressions count. Fixing these things can make a house look more welcoming, improve its street appeal and in turn increase its value.
3. Install a new home security system
When looking for a home, renters and buyers alike want to ensure their property is secure. Luckily there are many ways to add security to your home. New alarm systems and home security systems are a popular choice but don’t overlook products such as security screen doors and windows. They’re great for airflow and keep your home secure. Putting a security system in place is a great practical way to increase the value of your home.
4. Replace old flooring
Scratched floorboards, cracked tiles or lifting carpet isn’t a good look and unfortunately, no amount of cleaning is going to fix the problem. If your flooring is at a point of no return, it might be time to call in the professionals and have your flooring replaced. Timber flooring is a great way to add value to your home but other lower-cost options include vinyl planks, carpet and tiles. New flooring can not only dramatically improve the look of your property but also improve its resale value.
5. Add value to your kitchen
They say the kitchen is what sells a home. If you don’t want to pull apart the whole kitchen, there are a few simple things you can do to help give your kitchen a facelift. These include replacing or customising the kitchen cabinets, adding new window treatments, changing the benchtop or installing a new sink or appliances such as range hoods and stovetops. If you are going to spend money to increase the value of your home, the kitchen is where it should be spent.
6. Replace your plumbing fixtures
Replace any old fixtures in bathrooms and kitchens with new ones. This gives a house an updated look without having to completely remodel something big like a whole bathroom or kitchen. Tapware is also something that can be replaced fairly easily yourself. With so many different styles and colours available on the market, you can instantly transform a room and increase the value of your home.
7. Add new storage systems
We all wish our homes could have more storage. Adding more storage space is a simple way to make your home feel bigger. Putting in extra shelving or adding basement storage ensures your living space doesn’t appear cluttered. These are both great cost-effective ways to improve property value. Adding innovative built-in storage solutions are also a great way to add value to smaller properties such as apartments.
8. Change the light fixtures
If your property doesn’t get a lot of natural light, new lighting could make all the difference. New light fixtures not only add more light but they’re also a great way to add some style to your home without having to move outlets or electrical points. Thinking of upgrading to LED downlights? They’re not only energy efficient but also provide a sleek modern look.
9. Revamp your bathroom
Like kitchens, nicely renovated bathrooms sell houses and improve property value. Simple tasks such as changing your towel rails or adding feature tiles can instantly transform the space. Still using shower curtains? Instead, a glass panel will not only make the space feel bigger but also will help you add value to your home.
10. Create an outdoor entertaining area
In Perth, we’re lucky to experience great weather all year round. When you add more outdoor living space, it brings the outdoors in and makes your home feel so much bigger. A new deck is great because they are easy to install and low cost if you do it yourself. Add a pergola or shade sail and you’ve created another living space in your home.
Investing in property is a great way to build wealth. Whether you’re looking for an investment, or want to make your current home more valuable and sell it at a higher price, there are many ways that you can increase the value of your property.