Renovation and home improvement are definitely turning into what could be a viable business opportunity for homeowners, with more and more people making positive changes to their homes with the intention of boosting the profit they will gain upon reselling.
If this is something that takes your fancy, there are actually a lot of small things that you can do to your home to make it much more modern, all the while ensuring that if you decide to sell, your bank account will reap the rewards in profit. Making a profit on a property involves doing the maximum work for the minimum cost and our tips can help you achieve that very manageable goal.
Prioritise the essentials and start with basic furnishings
While it might be nice to visualise the entire house and change everything that you can possibly think of, if there are certain parts of your home that are in dire need of some TLC then naturally, those are the jobs that you should be focusing your attention on first of all. Ensuring that the basic look of your home is both modern and yet still a blank canvas is very important.
Your potential buyers are much more likely to put a bid in for your home if they can visualise where they can go with their own tastes. Unsightly carpet in the spare room? Get rid. Yellowing wallpaper in the dining room? Sort it out. A fresh lick of paint across the full house and sleek new carpet fittings – or, if the budget allows, wooden flooring- will make your home much more appealing to buyers and raise the amount that it is worth.
The outside of your home is likely the first thing that your potential buyer will see when they come to view the house so ensuring that it catches the eye is very important. If your house is a particularly vibrant colour, consider painting it something much more neutral to tone it down. Gardens should be tidy and well-kept, and if there are any broken tiles, slates or slabs, then these should be repaired. A first impression is often a lasting one – so make it count.
Introduce open plan living
If you’re lucky enough to be a position where you can open up your living spaces by knocking through walls – that is, your walls aren’t load bearing- then it might well be time to do so. Spacious open plan rooms are much more appealing to potential buyers than small, stuffy spaces and opening up rooms can add value to the home as it is made to appear bigger in size.
While the cost to have a professional knock down walls may be slightly more if your walls are structural, the profit upon selling is more than a good incentive to make a project like this one of your priorities.
Simplified living and minimalism is all the rage at the moment, and this can work to your advantage. Minimalist furnishings allow a room to look brighter, larger and much more aesthetically pleasing to the eye, all things that will encourage a buyer and keep them as close as possible to your asking price.
Install a new bathroom
If your bathroom is looking a little bit worse for wear, it could seriously affect the amount of money you make when you sell your house. While a blank canvas and the opportunity to personalise a house after purchasing is a viable incentive for people looking to buy a house, knowing that you can move straight into a house and be happy with the bathroom is another significant incentive.
Update your bathroom storage with a fresh coat of paint if you can’t afford to shell out for an entire new fitting and replace cupboard door knobs to add a modern look to the room. Replace any dingy looking taps and light fittings and consider re-grouting the tiles to ensure that your bathroom looks brand spanking new.
If your bathroom is already looking sleek, then similar renovations can be done to your kitchen spaces. A fresh coat of pastel shaded paint on old cupboards can give them a vintage feel that looks both classy and expensive. Replace handles, knobs and any cupboard doors that might be a little worse for wear very inexpensively. Even investing in a new sink can give your kitchen the lease of life that it has been craving – all at a minimal cost.