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Not all upgrades will turn a profit. Some renovations will take more money out of your wallet than they will give back long-term. But there are a series of money-doubling projects that can add value, and style to your home, both big and small.
Painting
When it comes time to give your home a lift, painting can do the trick. Head renovator and director at Sydney’s School of Renovating, Bernadette Janson claims that Paint is the most powerful renovation tool. Modern colours and shades can bring an otherwise dull and tired home up to today’s current trends and contemporary design styles. Shaynna Blaze of Selling Houses Australia suggests going bold in stairwells, archways and big rooms. And she also cites colours with a gray or crisp white base can breathe new energy into a room. This home upgrade will likely cost a few hundred dollars, from the supplies to the paint needed to cover your walls. Check out Dulux’s colour schemes for some inspiration.
Draperies and Shades
Natural light can easily transform a dark room into a vibrant, illuminated one. Instead of keeping your windows covered with dark, heavy draperies and shades, swap them out for lightweight and sheer alternatives. An abundance of natural light can fool your eyes into believing that the room you are in is bigger than it truly is, which means it is a great trick to apply to small spaces and can boost your home’s value down the line.
Flooring
There’s no need to blow your home renovation budget on expensive, difficult-to-care-for wood flooring. There is a more cost-effective alternative available: laminate flooring. Vinyl flooring is the most cost-effective flooring option on the market today and it is designed to mimic marble, stone and hardwood materials, giving you the freedom to design a room however you prefer.
The Kitchen
Whilst it may seem daunting to take on a kitchen remodel, it is one of the most lucrative home renovation projects. The managing director of Mulcahy’s Construction Group in Melbourne, Dan Mulcahy, cites that the kitchen remodel is at the top when it comes to earning back your money. Well-designed kitchens will bring a nice return when it comes time to sell, as potential buyers will not have to put in any work. Plus, many sleek kitchens can be designed for under $10,000 when sticking to a budget. When designing the kitchen, be realistic and look at the big picture. It’s wise to choose on-trend, simplistic additions and updates, rather than additions made based on your own personal style or preference.
Outdoor Areas
The entryway is the first thing that your house guests, and potential buyers, see when entering. The doorway gives visitors the first impression of what your home is like inside. Be sure to make it a good one. A quick coat of paint in a bold colour on the door can change an unwelcoming door into an inviting one. A potted plant can add interest to your entryway and a patterned rug can add a bit of character. These simple additions can be pulled together in a weekend and best of all, you can complete this home upgrade for a relatively low cost, all while increasing your home’s potential value.