5 Affordable Investment Property Renovation Tips


Looking to sell your property and want to ensure a positive return on investment? Perhaps your home could use a makeover!

While pouring money into a property you purchased to capitalise off makes little sense in theory, simple and cost effective improvements can go a long way in improving the visual aesthetic, quality and overall value of your property for years to come. Whether it’s a fresh coat of paint and new flooring or a complete bathroom and kitchen remodel, inexpensive and stylish home improvements are achievable with any budget.

With over 10 years’ experience in the home improvement industry, MW Homes specialist team of renovators know how to maximise a property's best features, while simultaneously minimising its flaws to ensure a positive return on investment. With a wealth of experience and knowledge under our tool belts, here’s what we’d recommend you focus on for an effective and affordable investment property renovation that is guaranteed to pay off in the long run:

Upgrade your Kitchen

Often referred to as the heart of the home, a kitchen is a central space that serves both a functional and visual purpose. As most homes are carefully designed to position the kitchen in a central location, a remodel is extremely important when creating a stylish and modern theme that flows cohesively throughout the entire property. If your budget only allows you to renovate a few rooms, don’t underestimate the effectiveness of upgrading kitchen fixtures and furnishings. Due to its accessibility and prominence in a home, a kitchen is one room that can make or break a sale and an upgraded, attractive kitchen can add more in perceived value.

Whether your kitchen is out of date, inefficient in layout, lacks storage, inaccessible or dysfunctional, there is a number of improvements that can maximise the space and layout. When it comes to making changes to your kitchen, prospective buyers will look for the following:

  1. Make your kitchen open-plan living
  2. Invest in quality appliances and fixtures
  3. Improve storage
  4. Update countertops and backsplashes
Here’s a before and after shot of a MW Homes kitchen renovation: 

Redesign your Bathroom

As another prominent room in the house, a bathroom should be an extension of the homeowner’s style to create ambience, while still remaining a functional space. Whether your bathroom is impractical, small and outdated or simply lacks style and taste, don’t underestimate the power of a new colour scheme, tile design, layout and lighting. For an affordable investment property renovation that will increase your property value, consider making the following changes to your bathroom:

  • Upgrade to quality fixtures and fittings
  • Choose a toilet, shower and tap with a high energy efficiency star rating
  • Opt for large and modern bathroom tiles
  • Proper ducted-ventilation (often an issue with older homes)
  • Trade in divider walls and/or shower curtains for glass
  • Choose quality and visually appealing lighting
 Here’s a before and after shot of a MW Homes bathroom renovation:

Add a fresh coat of paint

When did you last refresh your paint? Whether you want to keep the same colour scheme or create a new look, a fresh coat of paint to the interior and exterior of your home can drastically increase your property value. If you’re on a tight budget, a paint job is one of the easiest and highest value drivers of a property!

From making a room appear larger to letting in more natural sunlight, nothing transforms a property like a simple paint job. Whether it’s general wear and tear, nasty scuff marks or an outdated colour palette, applying a fresh coat of paint can turn your stale home into a warm and modern sanctuary. With a range of colour options and themes to choose from, here’s MW Homes favourite paint shades for improving property aesthetic:

  • Timeless shades: neutral tones and monochromatic shades. Think beige, charcoal, khaki, terracotta and petrol blue.
  • 2016 trending shades: Pastel shades, teal, navy.

 Here’s a before and after shot of a MW Homes paint job:

Upgrade your Patio

Transform your plain patio into a modern outdoor entertaining area to really get prospective buyers interested. Just remember, the value of your property doesn’t end at the back door, so be sure to maintain and upgrade your outdoor space to keep the theme cohesively flowing from the inside out.

With the hot Australian summer and moderate temperatures all year round, there’s no denying how important patios are to the average Australian homeowner. Being one of the most used areas of the house, a visually aesthetic patio that ties in nicely with the indoor interior is a great home extension and a smart investment, particularly for smaller homes. Here’s a few ideas for improving the overall look and value of your home:

  • Incorporate materials and textures to create a modern theme. Consider using wood, stone and pebbles to create an urban looking deck and entertaining area.
  • Add decorative lighting. Our favourite is the industrial themed lights!
  • Add a pop of colour through a carefully landscaped and maintained garden.
  • Get turf. There is nothing more off putting than seeing a polished and beautifully styled home that has dead or wilted grass.
  • Make sure the patio furniture matches the interior décor.

Here’s a before and after shot of a MW Homes patio renovation:

Open up the space

Whether your home is small in size and cluttered or large, all homes can be improved by removing internal walls to create open plan living. Gone are the days where segregated rooms and areas are favoured. From making small rooms appear larger to allowing more natural light into the home, the benefits of open plan living are endless. Better still, having an open home allows you to easily and effectively create a cohesive theme and style while simultaneously freeing up more space for a more organised home layout.

If you’re short of ideas, here’s our top picks for a stunning open plan layout that is sure to add value to your investment property:

Whether you’re looking to sell your home immediately or hold onto it as a rental property in the meantime, renovating your home will undoubtedly increase your property value. Renovating is all about repairing, refreshing and improving a property to increase the perceived value. If you’re short on time or design vision, be sure to call our Melbourne-based team of home renovators today. At MW Homes, our pre-sale make overs and home renovation services are aimed at achieving an affordable investment property renovation by focusing on highlighting your home’s best features, while simultaneously minimising any flaws.

To find out more about our services, please call our team today on 0477 218 811 for your FREE quote!

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