Inexpensive ways to increase the value of your home during the economic slump.
In our current economic climate, it is not always the best idea to undertake expensive renovations to increase the value of your home, especially if the property market is in a slump, as this could result in you not recouping the costs of the renovations if you do eventually sell your home.
If you're looking to increase the value of your home without breaking the bank, there are a lot of cost-effective improvements that can be done to improve both the interior and exterior of your home.
Here are some of the best ways to increase the value of your property without spending vast amounts of money on renovations:
1. Upgrade your garden
When it comes to selling your home, one of the first thing potential buyers will see is your garden. If you're looking for a cost-effective way to increase the value of your home and make it look appealing to potential buyers, give your garden landscaping a makeover. That doesn't mean that you have to spend vast sums of money hiring a landscaper, rather you can remove dead foliage and prune existing shrubbery; purchase plants, colourful flowers and shrubbery and plant them throughout your garden; ensure that your lawn is in the best possible condition and make sure the outside of your home is looking presentable.
2. Low key kitchen makeover
Kitchens are arguably one of, if not the most important rooms in a home. It's also one of the first and most important spaces that potential buyers will look at when considering a home. A great way to improve the value of your home, without breaking the bank is to give your kitchen a low-key makeover by replacing old light and tap fittings with more high-end fittings, retiling or painting walls, refacing cupboard doors and resurfacing countertops. This way you can transform your kitchen without actually having to remodel the entire room.
3. Fix your bathrooms
Another room which potential buyers like to look at in homes, is the bathroom. Fixing up your bathroom is both a cost effective and relatively easy way to increase the value of your home. Avoid re-doing plumbing, rather focus on replacing taps, lights and other bathroom fittings. You can also replace the bath if it is looking old or damaged, as well as the sinks. Another way to make your bathroom look fresh and new is to repaint the room and or replace or re-grout tiles.
4. Redo your floors
Looking for an easy way to increase the value of your home? Say goodbye to your old, stained carpets; chipped tiled floors and creaky wooden floorboards. Redoing the floors in your home is an excellent way to increase the value of your home and, if you're smart about it, won't break the bank. Get your carpets professionally cleaned to remove any residual stains and dirt. If your carpets are too far gone, check what lies below the carpet as you may find perfectly good wooden floors that are just in need of a good polish. Replace chipped tiles with new ones and then re-grout them in order to achieve that brand-new feel; and consider giving your existing wooden floors a thorough polishing.
5. Give your home a fresh coat of paint
A fresh coat of paint for both the inside and outside of your home will do wonders for the value of your home and is an excellent and relatively inexpensive way to give your home a quick makeover. Here are some of the current trends to inspire you: https://www.decoraid.com/blog/best-interior-paint-colors-2019-trends
Have your home in top shape to sell with these cost-effective ways to increase your home's value.
Read our article on Cape Town, Garden Route and Johannesburg property markets - what's happening here.
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