Add value to your house on a budget
You’ve got to spend money to make money – but that doesn’t mean you have to break the bank. There are many affordable ways to boost the value of your home, ranging from easy DIY tasks to those that might need the helps of pros.
The benefits of adding value to your home
Investing in projects in and around your house can make your house more desirable to potential purchasers – increasing the return on your initial investment.
Budget-saving ways that can help add value
It’s amazing what a little cleaning can do. Giving your home a proper decluttering of everything you no longer need or want can make your home look cleaner and more well-maintained. Once you have filtered the keeps from the chuck-outs, explore ways you can responsibly dispose of the items. You could also have a go at selling some.
A fresh coat of paint can do wonders for any property – especially if you want to sell. Try to pick a colour that suits the room or home. A simple shade like white or grey is versatile and timeless, but bold and bright colours can help your home stand out.
A great garden can leave your neighbours green with envy and increase the value of your home. When you clear unwanted greenery and preserve the landscape around your home, you show potential buyers that you have maintained the property.
Installing lighting that compliments your interiors is a bright idea for adding value. Consider how a room will be used and what activities will occur. For example, ensure suitable lighting is in the home office or living rooms, as the rooms will be used as entertainment or workspaces.
Having adequate storage in and around the home is a tremendous value booster. Make an effort to install plenty of closets, cabinets, and pantries inside the house. A shed will always be welcome if you have a backyard or outdoor space.
We’ve all seen those images of homes with flooring that hasn’t aged well – shag carpeting, anyone? Ensure you don’t get caught out, and install high-quality flooring that compliments the room's décor or colour scheme. The type of flooring you ultimately choose should be appropriate for the room. For example, it’s usually best to have tiles in the kitchen and bathroom, timber in living spaces, and carpeting in the bedroom.
If you choose tiles, consider material selection, colour, and quality. As tiles can quickly look dated, it’s best not to blow your budget on an expensive option. Remember that you can tile right over the top of old tiles to save money or even paint over them if you can’t stand your current tile situation.
Regarding kitchen benchtops – and much of what we have already discussed – the quality of materials plays a big part in how much value they add. Choose a material that aligns with your kitchen's palette or theme. Marble is excellent if your kitchen is primarily white, whereas timber looks best with warm, earthy and natural colours.
DIY projects that can help add value
With a little effort, some know-how, and elbow grease, you can make a massive impact on the value of your home with these DIY projects.
Create a herb garden
Fragrant, fresh, and oozing charm, having a herb garden is a great way to add a little panache to your home. To make your garden, you only need a pallet, hammer and nails to get to work. Use blackboard paint on your pallet to label and relabel your herbs according to what’s growing. Herbs need a lot of sunlight to sustain themselves, so pick a sundrenched spot in your home to plant. Water your herbs regularly, especially in hot climates, and ensure you continually harvest them.
Put up picture rails
DIY picture rails are the perfect solution to any picture-hanging problems. You can find pre-prepared picture rails at your local hardware store, meaning you’ll need to cut them to length and then mount them securely.
Change door and cabinetry handles
Replacing old door and cabinetry handles with shiny new ones can bring a whole new look to your home. Locks and handles fit together in different ways, so read the instructions.
Professional services that can help add value
Some things are best left to the pros. While it may be a bit daunting to seek the services of experts, they can provide exceptional results – and are often more affordable than you might think.
When it comes to architects, many of us may conjure images of intimidating, bespeckled, black turtle-neck-wearing, SAAB-driving artists. But, in reality, they are down-to-earth professionals who craft structures – like homes and property extensions – into works of art. Try to find an architecture practice affiliated with the Australian Institute of Architects, Australia's professional body for architects.
If you’re uncertain what throw cushions go well with your sofa, or are unfamiliar with the flow or feng shui of a room, then no worries! An interior designer will. They work with you every step of the way to ensure you have the home of your dreams.
While it may be tempting to do a few bigger projects by yourself, with a few mates or family members, some are best left to a tradie. Seek the services of an accredited tradesperson to ensure you have a job done well.
Make sure your changes are insured
Whenever you make significant renovations or improvements to your property that alter the value of your property, ensure you update your policy’s sum insured – otherwise, you run the risk of being underinsured. With AAMI Home Insurance, you can update your policy in just a few clicks.
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Insurance is issued by AAI Limited ABN 48 005 297 807 AFSL 230859 (AAI) trading as AAMI. Any advice has been prepared without taking into account your particular objectives, financial situation or needs, so you should consider whether it is appropriate for you before acting on it. Please read the relevant Product Disclosure Statement before deciding on this product. The Target Market Determination is also available.