MINIMUM SPEND, MAXIMUM GAIN
IF YOU’RE RENOVATING TO MAKE A PROFIT, DON’T SPEND A CENT MORE THAN YOU ABSOLUTELY NEED TO. CHERIE BARBER SHARES HER EXPERT TIPS TO ADD VALUE TO ANY PROPERTY
If you’re renovating to make a profit, there’s something I always stress: don’t spend a cent more than you absolutely need to. Retain and recycle what you can; spend the minimum to get the maximum; and don’t splurge on flash fixtures and fittings when you can shop around and find smart alternatives for a fraction of the cost. Here are three easy ways to add value to any property:
1. BREAK OUT THE PAINT BRUSH
It’s the cheapest, easiest and most effective way to instantly transform a property. If money’s tight, you can do it yourself. Inside, choose neutral colours that will lighten, brighten and appeal to most buyers. Choose a glistening off-white for all the woodwork. There’s simply no other improvement you can make to a property that will deliver the kind of easy return that a tasteful paint job does.
2. ADD AN EXTRA ROOM
Any agent will tell you: adding a room adds value. But be sensible about it. If you have to turn the living area into a shoe box to steal space for a new room, then the value add is questionable. However, some properties have a spare dining room, sunroom or other redundant space that can quite easily be converted into a bedroom. It may just require a false wall and door. Have a good study of your layout, and see if you can do a clever rework to gain an extra bedroom.
3. LET IN THE LIGHT
Nothing is more off-putting than a gloomy interior, so look for ways to bring in the light. Is there is a big, unruly bush outside that’s hogging all the sunlight? Can you replace heavy curtains with modern micro-venetian blinds? Can you add a skytube or skylight to a dark kitchen, hallway or bathroom to flood it with light? Check with your local council, but often you don’t need planning permission for these. Use every way possible to bring in natural light.