Your home is probably the biggest asset that you will ever acquire. With interest rates at their lowest point in over 50 years, investing in your own property to keep it up to date maybe a wise move.
Even if you’re not looking to put your property on the market right now, it pays to find ways to add value to your home in the long term. So where are the best places to invest your money? This article looks at 5 easy ways to add value to your home without spending a fortune.
- Vamp up the kitchen
- Give your bathrooms the once-over
- Get the floors looking their best
- Create an off street parking space
- Add some elegance to you outdoor entertaining area
The kitchen is the centrepiece of your home and most real estate agents agree that spending money on the kitchen often returns two-fold in the sale price of your home. If your budget allows, you can replace the whole kitchen with new cupboards, bench tops and up-to-date appliances to really give the value of your home a boost.

Modern bathrooms are a must-have for most home-buyers. A grubby, tired looking bathroom can be very off-putting to people viewing your home. Additionally, most home buyers prefer a residence with more than one bathroom, so if you only have one and can find a way to add another, this will add significant value to your property.

Carpets require regular professional cleaning to keep them looking their best. If your carpet is not cleaned on a regular basis, they will wear out much more quickly. To give your home a quick lift, get the carpets professionally cleaned. If they have reached their use-by date, be realistic about having your home re-carpeted or look at other budget flooring options to give your home a lift.Exposed wooden floor boards are very popular and have the advantage of not dating. If your carpet is worn-out, consider sanding and sealing the floorboards underneath instead of going to the expense of putting new carpet throughout. If you’re lucky, you’ll find the floorboards underneath your carpet have been protected over the years and you’ve got a hidden gem. If you’re not so lucky, you can consider covering them with floating floorboards, which can be an inexpensive option if you shop around. Or visit a budget carpet centre and choose one colour for the whole job.
Does your home have off street parking? If not, finding a way to get your car off the street and under a carport or into a garage will add significant value to your home. Look at adding a driveway and shade sail or carport to the front garden. This is the most obvious way to add a parking space to your home.
Today’s home owners crave outdoor living spaces. Adding a deck, patio or simply creating an ‘outdoor room’ with pavers and furniture could add significant value to your home. If you decide to add a deck or patio, make sure it flows on from your kitchen/dining/living area and keep it looking as open plan as possible. Add doors that can be folded back to bring the outside in. Think about adding a pergola, veranda or shade sail for a stylish, functional finish.

Generally giving your garden a make-over is also a good idea. Keep it simple and structured. If you haven’t got a green thumb, consider hiring a landscaper to create a stylish, low-maintenance garden that looks great without the maintenance hassles. Home-buyers are time-poor these days and making sure your garden is low-maintenance will make your home more appealing to buyers.
Keeping your most valuable asset maintained and up to date is something you should seriously consider, even if you’re not looking to sell. If you want to renovate your home but the budget doesn’t allow it, talk to your mortgage broker about refinancing your home loan to give yourself a renovation budget. With today’s low interest rates and competitive financing options, you could not only create an opportunity to add value to your home, you could be better off.
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Article Courtesy of Christopher Foster-Ramsay
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