Have you bought a property with loads of potential but it needs a little TLC? Does your investment property need a new lease of life but you don’t want to overspend? There’s a great deal you can do to improve a property while getting bang for your buck and adding to your bottom line, while also being kind to your bank balance. Remember, little tweaks can go a long way.
A new coat of paint arguably tops the list of the most impactful ways to spruce up a home interior. A few licks of an affordable, neutral-coloured, durable, washable paint can quickly and effectively transform a dated property to nearly new again. Depending on the size of your home, you may wish to DIY, so head to your local paint or hardware store and ask an expert for a range of options to suit your budget. If you want a professional to take the job off your hands, get a few quotes before you commit to any work to ensure you are getting value for money.
On the outside
When it comes to property, first impressions do last, so if you’re looking to sell or find new tenants then it’s important that your home has kerb appeal before it hits the market. Ask yourself these questions: Does the outside of the property look dull? Are there cracks and damage to bricks and render? Could the exterior do with a fresh lick of paint? Are the windows covered in dirt, rust and cobwebs? Is the front door dated or damaged? Is the garden full of weeds and overgrown plants? Are fences cracked or pavers broken? If you’ve answered yes to any of these, then it’s time to do something about it – and with a bit of research and creativity, they are all relatively inexpensive to fix. Admittedly, some of these may seem like they’re only trivial issues, but collectively they can make the property look run-down, unwelcoming and appear older than it actually is, which will ultimately affect its value and saleability.
Window treatments play a huge role in your home’s aesthetics and first impressions, especially as you enter a room. Great window furnishings can instantly elevate the look and feel of a property, but if they are old, dated or dirty, they can just as quickly detract from what may otherwise be a very attractive home interior. Pleasingly, most window coverings can be brought back to life after a good clean, with material curtains and blinds benefiting from a regular steam or dry clean. If you’re looking to modernise or add long-lasting value to your home, then buying new furnishings may be the best option if your budget allows. Consider replacing old-style vertical blinds and dated curtains with roman or wood blinds, plantation shutters, bamboo shades or lined drapery. Shop around for affordable options and sales, and don’t forget to look at ready-made, off-the-shelf varieties that come in most common window sizes.
Kitchen and bathroom makeover
There’s no doubt that a smart kitchen makeover or a bathroom transformation can dramatically improve your property’s value as well as its functionality. One of the most effective and affordable ways to refresh these spaces without renovating is by changing the cabinetry. Cupboards take up a lot of space which means they are often the first thing that is noticed. Depending on budget, you could replace doors completely with new wood or reface them with a high-quality paint or plastic wrap. Another way to revamp your bathrooms and kitchen is with new fixtures and fittings. For high impact, coordinate handles and tapware by using the same colour, style and material throughout each space. Likewise, a stylish splashback can really make a statement in these rooms. Consider affordable options like mirrors, stainless steel, glass, or marble lookalikes for the kitchen and new or resurfaced tiling in the bathroom. Another way to really elevate the finish of your kitchen is with new benchtops. Laminate options are cost-effective and often look just as good as costly stone materials. Kitchens can also benefit from new appliances. A modern stove top, oven and rangehood, a quality dishwasher, and a sleek microwave can give your kitchen – and your property – an edge when you are selling or renting and can potentially reward you by attracting more interest, adding value and helping to retain tenants.
Revamp your lighting
Lighting plays an important role in boosting a home’s ambience and overall appeal. While it can often be associated with high-end prices, you can easily bust that myth. With research and smart choices, you’ll find there are some great and affordable options available, from online and bricks and mortar retailers to second-hand stores. Remember, the best approach when updating home lighting is to choose simple, modern light fittings, which are less likely to date. If your budget allows, take your property to the next level with a living room chandelier, a stylish pendant above the kitchen bench, or a centerpiece above the dining room table. Keeping energy costs low can be an added benefit when using many modern lighting designs, which is especially important for an investment property. Likewise, skylights can be a clever way to save energy costs by introducing natural light and the sun’s warmth to rooms and hallways.
When it comes to flooring, there’s nothing more important than ensuring they are clean and well looked after, otherwise a property full of faded, drab, stained or damaged carpet can instantly ruin its appearance and ultimately affect its value. If you’re in need of new carpets, remember that practicality and colour neutrality is key, especially for an investment property. You also want to find a carpet that is easy to clean and hard-wearing. In some cases, a vinyl, tiled, wood or laminate flooring may be a better and more sustainable flooring option for the long term, especially for tenants, so consider alternatives rather than automatically opting for carpet. Like everything, affordable options are available, you just have to shop around.