If the thought of renovating your investment property sounds like a wallet-draining activity, think again.
Enhancing the value of your property doesn’t have to blow your budget. In fact, smart, economically savvy upgrades can work wonders, offering significant returns on your investment.
Let’s explore three impactful upgrades each under $100 and $1,000.
3 value-adding upgrades under $100
1. Refresh your paint
One of the simplest yet most effective ways to give your property a facelift is by applying a fresh coat of paint. Be it a tired-looking living room or a faded front door, a new paint job can make all the difference. Opt for neutral colours that appeal to a wide audience or use trendy shades to add a modern touch.
2. Landscaping and garden maintenance
First impressions really do count and a well-maintained garden will significantly enhance your property’s curb appeal. Pruning overgrown shrubs, mowing the lawn, and planting some affordable, yet beautiful plants can work wonders. If you’re not sure what to plant and where, talk to staff at your local garden centre and fill gaps in your garden bed with low-maintenance, flowering plants. Additionally, consider adding mulch to garden beds for a fresh, well-kept look.
3. Update door and cabinet handles
Replacing outdated handles on doors and cabinets can transform the look of your home without requiring a lot of effort or money. Sleek, modern designs can provide an instant refresh to kitchens and bathrooms.
3 value-adding upgrades under $1,000
1. Replace old appliances
Old appliances can be an eyesore and a turn-off for potential renters. Replacing outdated items, like microwaves, dishwashers, or ovens, with more energy-efficient models can modernise your space and appeal to eco-conscious individuals.
2. Revitalise your surfaces
A full-scale kitchen makeover isn’t the only route to renovation. Subtle, cost-effective touches can breathe new life into your space, elevating the overall aesthetic while also improving functionality. Consider installing a chic backsplash; this not only serves as a practical barrier against spills and splatters, but also doubles as a stylish visual centrepiece. Another cost-effective alternative is replacing or regrouting your tiles, which can instantly brighten your kitchen and give it a cleaner, fresher look. If you’re looking to make a more noticeable impact, consider incorporating sleek floating floorboards. Easy to install and maintain, they can significantly enhance the look and feel of your kitchen, adding warmth and character to your space.
3. Upgrade bathroom fixtures
A bathroom upgrade doesn’t necessarily mean ripping out tiles and replacing bathtubs. Something as simple as replacing old faucets, showerheads, and lighting fixtures can give your bathroom a modern and luxurious feel.
If you have a bit of extra budget, consider replacing your toilet and/or your cistern. An outdated toilet can be an eyesore and inefficient. By investing in a sleek, water-efficient model, you’ll not only improve the aesthetic of your bathroom, but also significantly reduce water usage over time.
Remember, the goal of renovating your investment property is to increase its value and appeal to potential tenants or buyers, so keep the needs and preferences of your demographic in mind while planning your upgrades. These cost-effective renovation ideas prove that you don’t have to empty your wallet to make valuable improvements to your property.
Wondering what the best way is to increase the value of your property or need advice on managing it? Reach out to our experienced team at Prudential Real Estate to explore the best options for your investment.
Prudential Real Estate Campbelltown | (02) 4628 0033 | campbelltown@prudential.com.au
Prudential Real Estate Liverpool | (02) 9822 5999 | liverpool@prudential.com.au
Prudential Real Estate Macquarie Fields | (02) 9605 5333 | macquariefields@prudential.com.au
Prudential Real Estate Narellan | (02) 4624 4400 | narellan@prudential.com.au
