what are good ways to add value without spending much???
- Thread starter fyrbrd
- Start date
Gardening.
Alot of people underestimate the value of a good garden and a few "buddha" statues here and there.
If your market is young and FHOB, they generally lack visualisation and don't like getting their hands dirty. Fixing up the garden so that it presents well and looks better than another house for the same value, will give you an edge.
Regards JO
Alot of people underestimate the value of a good garden and a few "buddha" statues here and there.
If your market is young and FHOB, they generally lack visualisation and don't like getting their hands dirty. Fixing up the garden so that it presents well and looks better than another house for the same value, will give you an edge.
Regards JO
I found the book "Massive Profits in RE by adding value & renovations" by Phil Jones to be useful and good as a reminder list.
Anything you can do yourself. Like it was already mentioned 'gardening' or just tidying up the yard in general. The appearance of the front and backyards can have a massive impact - and if you aren't afraid of a little hard work and lateral thinking they can be as cheap or expensive as you want them to be.
Also things like painting or carpeting. stenciling the driveway. updating fixtures like light shades and handles.
It probably also depend if you just want to create 'perceived' value (in terms of trying to sell with an open house), in which case decluttering and cleaning can work wonders. Or if you are looking for a return in actual value, where you may actually need to do something more to update / improve the place.
Also things like painting or carpeting. stenciling the driveway. updating fixtures like light shades and handles.
It probably also depend if you just want to create 'perceived' value (in terms of trying to sell with an open house), in which case decluttering and cleaning can work wonders. Or if you are looking for a return in actual value, where you may actually need to do something more to update / improve the place.
And from the book "Real Estate Riches" by Dolf de Roos (one of Robert Kiyosaki's mates) comes the following suggestions:
~ Add a carport
~ Change the doorknobs
~ Install an electric garage door opener
~ Remove old curtains / blinds
~ Replace carpets
~ Install an alarm
~ Knock out a wall
~ Subdivide a huge room
~ Erect a tall fence / take down a fence
~ Fit deadbolts to doors
~ Install a new stove
For other suggestions, see Chapter 12 (page 111 onwards) of the above book.
Cheers
LynnH
~ Add a carport
~ Change the doorknobs
~ Install an electric garage door opener
~ Remove old curtains / blinds
~ Replace carpets
~ Install an alarm
~ Knock out a wall
~ Subdivide a huge room
~ Erect a tall fence / take down a fence
~ Fit deadbolts to doors
~ Install a new stove
For other suggestions, see Chapter 12 (page 111 onwards) of the above book.
Cheers
LynnH
Largest surface areas
Agree with all that has been written, however my priority is as Nathan has stated.
Tackle the largest surface areas first. Walls and floors. More bang for your buck. Keep colours neutral.
Agree with all that has been written, however my priority is as Nathan has stated.
Tackle the largest surface areas first. Walls and floors. More bang for your buck. Keep colours neutral.
I got council to tidy up a couple of trees (their trees), took 2 phone calls, unfortunately they couldn't prune them and had to remove them. Which is what I really wanted but didn't ask as I thought the trees where OK.
So I cut down 2 trees and the council cut down 2 trees. Now the property is nice and open, no more leaves in gutters, less maintenance and very much more appealing to look at.
Cost me $60 for new chain and bar on the borrowed chain saw. Probably $5 for petrol and oil. took 4 days. Also have a big pile of firewood at home now. Also saved about $400 on NOT having to buy firewood.
Very cheap.
Cheers
Graeme
So I cut down 2 trees and the council cut down 2 trees. Now the property is nice and open, no more leaves in gutters, less maintenance and very much more appealing to look at.
Cost me $60 for new chain and bar on the borrowed chain saw. Probably $5 for petrol and oil. took 4 days. Also have a big pile of firewood at home now. Also saved about $400 on NOT having to buy firewood.
Very cheap.
Cheers
Graeme
Yeah, its' that old 80/20 rule. 80% of the bang for buck comes from doing those big ticket items.
If you do the labour yourself, an interior paint job could cost as little as $500 or so.
Effort vs Return
Whilst I agree (in principle) on the DIY methods being it is important to put a value on the time you spend doing the renovations.
I value my time at my current salary hourly rate. This way any task I complete during a reno has an implied cost. I can then calculate the true cost of the renovation.
It has highlighted that some tasks are better left to the professionals (after allowing for re-work, multiple trips to Bunnings and purchase of tools etc.)
However this discounts the enormous value gained in the learning experience.
Just a thought.
Regards
A
Whilst I agree (in principle) on the DIY methods being it is important to put a value on the time you spend doing the renovations.
I value my time at my current salary hourly rate. This way any task I complete during a reno has an implied cost. I can then calculate the true cost of the renovation.
It has highlighted that some tasks are better left to the professionals (after allowing for re-work, multiple trips to Bunnings and purchase of tools etc.)
However this discounts the enormous value gained in the learning experience.
Just a thought.
Regards
A
Not in any order of priority
wall paint
white knight paint ( to freshen up very dated bathrooms and kitchens )
low pile cheap acrylic washable carpet in a trendy but darkish colour
cheap but nice light fittings
repair of anything broken like screens and locks
removal of daggy curtains and replacing with cheap but low maintenance venetians
change of cupboard door knobs if kitchen is dated
spruce up of gardens and repair to outdoor structures such as pergolas and gates
wall paint
white knight paint ( to freshen up very dated bathrooms and kitchens )
low pile cheap acrylic washable carpet in a trendy but darkish colour
cheap but nice light fittings
repair of anything broken like screens and locks
removal of daggy curtains and replacing with cheap but low maintenance venetians
change of cupboard door knobs if kitchen is dated
spruce up of gardens and repair to outdoor structures such as pergolas and gates
Hi
Bought out first IP with settlement in early July. Have about $7.5K for a reno, after allocating for 1 month holding cost. Going to hire tradies to do the work due to time / work constraints. Y-man's list is right up our alley of things to do.
Some really good ideas here.
Regards
Daniel Lee
