Many of us spend the majority of our time at home to relax, escape from the outside world, and be ourselves. At the same time, a home is a good investment to add to one’s investment portfolio. Investors are always looking for properties they can buy and then renovate to increase the property’s value.
If you’re into real estate investment, you should also be willing to spend on home improvement to get the best out of your property. Home renovation can determine the overall value of a property, that’s why.
The Truth About Home Improvement
Home improvement projects come in all shapes and sizes. The upgrade can be as simple as updating old fixtures, buying new appliances, or repainting a bedroom. Then there are also more tedious renovation projects like replacing an old roof or adding an entire wing to your house.
Whatever you decide on will be worth the effort because the benefits of home improvements are endless.
Renovations are a great way to improve the space within a property, change its look and feel, and make it more functional.
However, home improvement projects can be overwhelming. There are many things to consider, from how much work is needed to how much it will cost. But with a little patience and research, you can make your home the best it can be. Also checkout Lakeside Hire they will provide the tools that best suits your needs and make your job easier.
Renovation Hacks and Tips
Property selling can be a quick way to recoup the investment you made when you first bought the property. However, it can be challenging to attract interest to your property without making upgrades that will add value to it.
Most people think that home improvement means spending thousands of dollars on it. After all, you’re probably remodeling your home so that it could command a higher price once you put it on the market.
Here, you can expect to spend cash on renovations to make your home more presentable and functional to prospective buyers.
So, whether you plan to sell your property or simply want to make it cozier, you must know the kind of home improvements that are not worth it in the long run. That should help you maximize all the resources you spend on owning or investing in a property.
4 Home Improvements That are a Waste of Money
Here are home renovation ideas you might want to avoid, as they could end up wasting your money.
1. Using wallpaper
Back in the day, wallpapers were common in many homes. But times change, and so does the use of wallpapers. While you can choose from an assortment of patterns and textures, the process of removing wallpapers can be time-consuming, counterproductive, and extremely stressful.
2. Expensive lighting fixtures
While expensive lighting can add aesthetics and a touch of elegance to your home, that fancy lighting now may be out of style a few years from now. Opt for timeless lighting pieces. Better if these are also eco-friendly and cost-saving.
3. Quirky floor tiles
Choosing the right tiles is crucial in home improvement and real estate property selling. Unless you want to make your home look like a 50’s diner, installing quirky floor tiles is a no-no that could do little to increase your home’s overall value.
4. Installing carpets
Like expensive light fixtures, floor carpets can add luxury and elegance to any room. However, it could be a nightmare for allergy sufferers. Not only will dust and pet fur stick on the carpet surface but carpets also tend to fade soon enough, are prone to stains, and are harder to clean and maintain.
7 Home Improvements That Will Help Sell Your Home Faster
The first step in any home improvement project is to assess the situation.
- What does your home need?
- Is there anything that needs fixing or replacing?
- Do you want to change your flooring? Paint the walls? Change out light fixtures?
It would be best to consider what you want in your home and what other homeowners might wish.
So, when planning a home improvement project, think about why you want to do so. If you are selling your house soon, think about your potential buyers and draw them into your property.
Planning a home improvement project for you and your family isn’t bad either. After all, every homeowner wants to come home to a cozy, welcoming dream house.
The good news is that you can do home improvement projects without spending so much. Once you’ve determined what area needs to be changed or improved – whether it’s the exterior, interior, and landscaping – the next step is to determine what specific changes will make the most difference for the property. Then it’s time to get to work!
There are many ways to save money on a project, but this will depend greatly on what kind of project you’re working on. Nonetheless, here are home improvement projects that will make a difference to your home’s overall look and feel.
1. Add a fresh coat of paint
Old, cracked, faded paint can make a house look lifeless and outdated. Adding a fresh coat of paint is an easier and more affordable way to brighten and freshen up your home. Use this opportunity to choose the paint color you like or add an accent color that will add a modern touch to your home.
Choosing the right kind of paint depends on where you will apply it. For example, it is suitable to use paint with a flat or matte finish for low-traffic areas, such as the bedroom, since these types of paint are more economical. Then choose a paint color with a high-gloss or satin finish for high-traffic areas, like the living room or kitchen.
2. Update your backyard
Homes that have large backyards are ideal for families that love to spend some time outdoors. If you have a backyard but aren’t sure what to do with it, why not invest in a garden landscape?
Here are ways you can build and improve your backyard garden.
- Clean up your backyard. Remove fallen branches, twigs, and dried leaves. Pull out weeds and unwanted plants.
- Add flowers or plants that are easy to maintain and suitable to the climate in your area. It will make your yard and the entire property pleasant to look at.
- Use garden beds to have separate areas, as well as add aesthetics and life to your backyard. Add fixtures like solar lighting and build a small pond or fountain to complete the garden’s look.
- Hire a professional landscaper to help you design your backyard garden.
- Add an outdoor kitchen to increase home value. It is useful and gives you a more functional living space.
3. Overhaul your kitchen
The kitchen is the heart of every home, where family and friends gather to enjoy good food and company. It is one of the most used rooms in the house, so it is only fitting to spend good money on improving your kitchen.
The renovation could be as simple as replacing lighting fixtures or appliances or something major, like a complete kitchen overhaul.
Consider increasing natural light or replacing old lighting fixtures to add a modern touch and brighten up your kitchen at the same time. Replace old appliances with new, energy-saving ones. This move can make cooking easier and even help you save on energy bills.
4. Do some deep-cleaning
No one wants to live in a cluttered home. Here, a house decluttering can also add value to your home. It’s a cheap home improvement project anyone can do, although you need to set aside a day or two, plus extra energy, to accomplish this. Arrange or re-arrange the layout or furniture. Then, check if you have items that you can sell, donate, or keep.
When deep cleaning, it is important to wear protective gear such as face masks, goggles, and high-quality nitrile gloves to protect against harmful chemicals. Additionally, open doors to allow for ventilation, and be sure to get rid of any unwanted furniture or spot any mold.
5. Restore the staircase
Research reveals that more than 70% of home buyers know whether they will buy a property during a house viewing. One way to sway potential buyers is by repairing the staircase since it is one of the first features people notice when they enter the house.
So, make sure your staircase is in good condition and fits the overall feel and theme of the home.
6. Consider creating a home library
Millions of people worldwide were stuck in their homes during the peak of the pandemic. Somehow, it has also paved the way for people to rediscover their old hobbies and re-read old books.
No wonder, there was an increase in home library projects since the pandemic began. A home library can be a good focal point and a conversation starter, ultimately adding value to any home.
7. Update your flooring
The National Association of Realtors reveals that refinishing existing wood floors can recover up to approximately 150% of your home improvement investment. Whether you redo damaged or faded wood flooring or replace old ones with new ones is up to you.
Avoid carpets as much as possible. But if you still prefer to have one, consider an area rug instead. The most certain thing is that beautifully restored flooring can significantly improve your home value and add aesthetic appeal to your home.
Home improvement projects can be time-consuming and costly depending on the nature or scope of your vision for your home. As a homeowner, you must plan for a home improvement project at some point. It doesn’t matter if you’re looking to sell your home soon or want to freshen up and update it a bit.
Again, home improvements need not always be expensive. It can be as simple as adding a fresh coat of paint and updating your old bathroom, kitchen, or lighting fixtures. The most important thing is the satisfaction it brings and the boost it gives to your and your loved ones’ quality of life.
About the Author!
Rose is a licensed real estate broker and the co-founder of RE/MAX Gold Philippines, a real estate company in the Philippines. Acting and real estate have always been her passions since childhood. She confidently helps close record-breaking deals for residential and commercial buyers while leading her team to success. Check out their website at remaxgold.ph.