An Australian dad has revealed how he can dramatically increase the value of his home with a few simple renovations.
It may sound obvious to anyone who owns a home, but Curtis Fraus was able to increase the value of his Adelaide property by $85,000 in just two weeks.
The 33-year-old said: Yahoo Finance Anyone can copy his method, so all you have to do is always look for quick and easy fixes.
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“Do some of the work yourself,” Fraus said. “It's not that difficult. Also, if you just want to 'flip' a property, don't over-renovate. ”
Ms Fraus has lived in her home in Adelaide's Salisbury North for 12 years, putting it up for sale in 2021. Ms. Fraus originally bought it for $264,000, but her agent listed it for $300,000.
Fraus said Yahoo Finance It was a “terrible return” and given that he had owned the property for over 10 years, he expected a little more. So he took matters into his own hands, literally.
A renderer by trade and owner of a start-up soda company, he painted the entire exterior of the house and all the walls and ceilings to give it a fresh new look.
“I'm willing to get my hands dirty. And it's an easy job and anyone can do it,” he said.
Fraus had a contractor install new flooring and carpet, and also installed air conditioning. The total renovation cost was just $5,000.
The father returned to the agency, took new photos of the property, and put it back on the market for $385,000.This property was sold to an interstate buyer within just a few days one hour That it is online.
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Fraus said he was “surprised” to see the property value increase by $85,000 after a $5,000 renovation.
“Cheap reno worked wonders on the old cream brick house,” he said. Yahoo Finance. “The buyer appreciated the new makeover on his investment. It saved him time and money. We will be doing this again in the near future.”
How to increase asset value
After watching their parents remodel their homes when they were young, South Australian couple Emily and Mitch Clohessy came up with some simple tricks that everyday Australians can use when sprucing up their homes.
1. Try it
“If you have no remodeling experience but want to renovate your home, my biggest tip is to just give it a try. Visit YouTube for videos on how to strip and prepare a bathroom. Look at it. It's not as hard as you are. Think about it,” Emily explained. Yahoo Finance.
“If you cram it in, you always learn something along the way and know better for next time, and then you just have to break it out.” [and] resume. Don't let the fear of making a mistake hold you back. ”
2. Go shopping
“For cost-effectiveness, sites like Marketplace and Gumtree are your best friends,” she added.
“Depending on the style you're going for, you can get almost everything you need in terms of materials, such as wood, tiles, faucet fittings, etc., but these days, you can find almost anything you want on the market.'' And those prices are always negotiable, so always negotiate instead of paying what someone asks.”
3. What's old is new
“I think people are becoming more environmentally conscious and I also think people love repurposed buildings in their homes. If you look at a lot of new homes these days, they look quite clinical and boring. , has no features, incorporates some reused items – for example, for the current one, we have siloed [that] It came out of the Holden factory. These things create character, generate buzz, and help you stand out from the crowd without spending a fortune. ”
4. Sometimes paint is all you need
South Australia reiterated Fraus' findings regarding renovations.
“A quick way to spruce up a space is to just paint. Painting is cheap, quick, anyone can do it, and it really refreshes the whole space,” she says. Ta.
“Painting can change the entire look of a home, so even if you have an outdated cream brick home, you can bring it into today's modern world by simply painting the bricks white.”
5. Spend money on things that matter.
Emily said homeowners will want to save money on many aspects of the renovation process, but they may have to spend more on important areas.
“When renovating for commercial purposes, you need to think about what will be most interesting to buyers, not your personal style,” she said.
“Keep your design, selections, and color palette simple. Incorporate pops of color here and there in your home styling. Put your money into areas that sell your home, like updating the kitchen and bathrooms.”
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