Renovating your house doesn’t always require a large budget. Whether you want to renovate your house to increase the chances of selling it or if you want to make it match your demands better, you can keep the costs low by being smart about it. In this post we have listed 3 tips for you that will make it easier for you to renovate on a relatively small budget.
Take your time and plan well ahead
It’s not smart to jump into the action right away. At first it’s important to take time and think about what you want exactly. Every project requires a different kind of approach. Make a detailed plan of what you want to achieve and the steps to get there. By doing this you’re able to catch flaws in the plan.
By making a list of all the necessary steps, you will also get an idea of what you can do yourself and where you need to hire someone. It’s sometimes cheaper to hire a professional than to make costly errors and decrease the value of your house.
An interior designer, an architect or an experienced contractor can make a valuable contribution to your renovation project. It’s also wise to ask several different companies for an invoice of the project, so you know what price is realistic and you won’t be overpaying.
Think about smart and cost effective solutions
The most expensive solution doesn’t always have to be the best one. There are many small and cheap things you can do to significantly increase the value of your home. Good examples of this are painting the house in bright colours or replace hinges and handles of doors and windows.
If you have a room that doesn’t have much natural light coming in, you could decide to add some extra light tubes. There are light tubes available that can be neatly hidden away out of sight. This makes it look like natural lighting and it can save you money on a comprehensive renovation that would otherwise be needed, to add a window to the room.
Renovate in a way that makes your property more valuable
You want to make sure that the investment is worth it and makes your property value go up, especially when you’re renovating to sell the house. You should make sure not to spend more on a renovation of a room than what this room is worth, as a percentage of the total value of your house. It’s a good idea not to spend more than about 15% of the total house value on the renovation of the kitchen.
There’s a rule of thumb that says the return of investments for kitchen renovations are 50%. This makes a kitchen the least profitable area of the house to renovate.
Bathroom renovations are usually the highest rewarding and have much higher ROI’s. Unless your kitchen is in real bad shape and makes your house unsellable, you would probably be better off renovating other areas like the living room or the bathroom.