When it comes to investment property renovations the question I get asked is “how much work if I do”? The answer to this question will change radically based on each individual and their present situation. Are you the sort of person that enjoys DIY (do it yourself) home renovations? Do you love exploring cheap renovation thoughts? Or does the notion of a month’s DIY home renovation make you feel ill? Only you can answer these questions but believe me there are huge advantages of doing minor renovations let alone a full month’s work on a house
So let us assume that you have 2-5 weeks to finish your DIY renovations, what’s a realistic goal to attempt to achieve? To a certain extent this will depend on your budget but you may be surprised by how much you can get done if you find some excellent cheap renovation ideas. My DIY renovation budget is the exact same for each job I do – I like to call it the”Spend as little as possible” budget! Below is a list of the most obvious and important things which you ought to examine when attempting a cheap DIY renovation.
A new coat of paint is the simplest way to produce a house feel fresh again. The excellent thing about painting is that everybody can do it and it is such a rewarding endeavor. I enjoy watching the home slowly get transformed as every new wall is painted and best of all if you do it yourself it should not be overly costly.
RENOVATION TIP: If you are going to paint the house beige do not even bother! Property investors always make the error or picking plain and dull colours. Paint the house as if you were going to be residing inside. If you are feeling really adventurous you could even incorporate a feature wall.
Replacing the present flooring is another way to earn your house feel brand new. You can either replace the carpet or in some homes it is possible to polish the floor boards which are under the carpeting.
RENOVATION TIP: This is 1 part of the DIY renovation process I would advise hiring someone to it for you (floor polishing &carpeting ). The professionals do this type of quick, nice and affordable job that it’s tough to generate an argument for doing it yourself. To save a little cash you can tear out the old carpet and left over staples before the specialist come.
Toilet & Kitchen
Both of these rooms are extremely important when it comes to renovating your investment property. Should you have some money in your budget then the Bathroom & Kitchen are a fairly good place to invest it. Just how much work you do here is up to the person but I would advise trying to get both these areas clean, modern and useable.
RENOVATION TIP: Instead of re-tiling you can use Tile Paint to good effect. I’ve used’White Knight’ tile paint on the top of dated 80’s tiles and the results have been outstanding.
Replacing old Light fittings, door handles and cabinet fittings is a excellent DIY renovation idea. It’s a really simple and cheap way to make a more’modern sense’ on your Investment property.
RENOVATION TIP: Look in the pricey designer brands and find decent quality imitations which are a quarter of the purchase price.
1 full day in the backyard and you can make a huge difference to overall look of a house. Pull some weeds out, trim some branches, mow the lawns, sweep the driveway and your property is looking pretty good. You may be saying”Since when is sweeping the driveway believed DIY home renovation”? I do not care what you’call it’ – Gardening, DIY, Renovations, Cleaning – the simple fact is that placing a day or two’s work in your garden will certainly make your home more attractive to prospective tenants and bank valuers.
RENOVATION TIP: This is a superb part of the DIY renovation to find some assistance from family and friends with. Everybody has done some gardening at some point and you can even turn it into a bbq event. This will make it more fun and simple as the entire family can come.
Exterior Painting / Render
This may not be your first priority but it is going to drastically enhance the initial impressions that people have of your residence. If your house is a weather board then a few coats of paint is a excellent idea or if it is a Brick home then making your house can make a gigantic difference. Render can turn an old and ugly brick house into a contemporary a gorgeous place in a couple of days.
RENOVATION TIP: DIY rendering is a remarkably affordable way to enhance the value of your residence. It may be messy and laborious but the results are fabulous.
Hopefully there’s something here for everybody. So my reply to the question”how much work should I do on my investment property”? Do as much as possible whilst spending as little as possible. In the ideal world you would finish all the ideas I have mentioned in about month and for under a budget of $10,000. Is it a realistic DIY renovation objective? Yes I believe it’s extremely achievable, particularly if you (or somebody you know) have a few’handy man’ skills. Bear in mind that renovating you investment property ought to be enjoyable and exciting. Best of luck.