In today's post I wanted to share my own experience of buying and improving property. I am no property developer so I only went for simple cosmetic changes, however the small changes really helped to increase the value of the property.
Who said adding value to your property has to be a major work? Sometimes the small changes can make a world of difference! I brought a 1 bed garden flat a few years back in the beautiful seaside town of Hove, although it was a well built Victorian building the inside was run down and dated. The previous owners had smoked a lot inside for decades I imagine, and it just looked like it needed some TLC.
Here are a few ideas of simple changes that you can apply to many properties. These were not too expensive or difficult but have really made quite a difference!
-Firstly I decided to replace the old sashes with double glazed windows. The property was situated on a main road and the old single pane windows would rattle when large vehicles drove past and let in all the noise. Keeping the timber frames and just adding double glazed glass was a more affordable option and worked just as good as replacing the woodwork. If your wood and frames are in tact I would definitely recommend considering this option if you are on a budget. The difference it price would have been about £1500 for a 3 pane window. The double glazing made a massive difference to the noise levels, also helped to keep the heat in making the property more energy efficient in terms of heating.
- A lick of paint really makes a difference! Although we needed around 5 layers of paint to cover the smoke stained walls it really made a wonderful difference. Also some new gloss on the skirting boards and door frames helped to give a new polished look.
- Floor! When we moved in the property had very old carpets which looked like they were once cream. I must admit I love cream carpets, but they are not practical with pets and look rather hideous when they are old and dirty. To add a modern feel to the place I swapped the old carpet for some dark wood floor. Easy to maintain and looks beautiful in my option.
In the bathroom and kitchen I just went for some Vynal. I think this is a good choice for small kitchens and bathrooms. Easy to maintain and not too pricey.
-The bathroom was very small with no storage. To add some storage and create more space I decided to swap the old sink for a smaller modern rectangular sink with storage underneath. Not only did this make the room feel bigger but there was now some storage for the bathroom essentials. It is quite amazing how much you can fit in those little cupboards!
-Kitchen - I didn't want to do anything too major to the kitchen as I knew this wasn't going to be my long term home. But painting the unit doors and adding new floor seemed to make the room much more presentable.
Overall the work cost me around £2500. I brought the flat for £172000 and sold for £250000 a couple years later. Of course the increase in price was also to do with the location and economy, but having a well presented property definitely helped me to get the place sold quickly at asking price.
Property is a fantastic way to make money and doesn't need to be stressful. Simple updates can really make the world of difference!
I hope you enjoyed reading this post and hopefully it gave you a couple of ideas of affordable ways you can improve your home. Please feel free to share your own tips and tricks in the comment section!
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