The $100 Reno
| 18 October 2011
Houses can be money pits. You start by thinking you are going to just change a light fixture and the next thing you know you are replacing shingles on a roof! It is quite insane how the simplest of renovations can spiral into a major project if you are not careful. Ask me how I know this!
I get asked all of the time what the most bang for your buck renovations are and honestly they are quite simple. These are the simple investments that get you top rents and values for the lowest dollars. Keep the scope of the project in check and remember not to let it escalate quickly.
Like most interactions, first impressions are everything so change out the main door handle and spend some dollars! This is their first impression and the likely the first thing they will touch. A solid handle that makes them feel safe and secure. It is human nature to want to feel this way so help them out!! Cost of a great front door handle $150
On the note of first impressions, Don R Campbell from The Real Estate Investment Network, says, "look at the house numbers, mail box, front light and door handle. If they don't knock your socks off spend some dollars and people feel great when they first walk up to your home." I couldn't agree more! These little touches add significant value to your home and don't cost very much at all.
Paint is always a high impact improvement that can be very cost effective. Adding a feature wall can make your everyday rental look like a show home. Try making one of the walls a deeper and richer colour than the rest of the home. This adds depth and gives the room a real focal point. Cost $100
Many folks including, Dave Peniuk from Prairie Island Properties, swear by the value and impact of upgrading your cupboard hardware in the kitchens and bathrooms. Take those old brass knobs off and install a nice nickel handle. Something with some weight and richness to it. $2 each times 50 = $100 And while we are talking cabinets don't be afraid to through a coat of paint over them as well! No one loves oak panelling any more. Slap a nice coat of glossy paint over them to add lots of punch and keep your pocket book in check.
Change out all of that old brass! You know, that stuff your Mother absolutely loved back in the eighties. Yup, that stuff is still everywhere…and no one likes it! Light switches and fixtures, door handles, hinges and faucets. These are all items that people not only see but touch and touch has a very high subconscious impact on people. I am consistently amazed how much of an impact these items have. They take your home from dated to modern while saving you from taking out a second loan to get it looking top notch.
One of the ideas thrown at me over Facebook was cleaning (Man I love Facebook). Good old Mr. Clean and a little elbow grease! Make absolutely sure your place smells as good as it looks and that all of the little dust bunnies are vacuumed up. A professional cleaner is $25/hr and if you spend a few hours on them the impact can be substantial especially if you have been doing renovations and the drywall dust is everywhere. Get into the corners and make that place shine! Don't forget about the windows that let all of the light into your gem of a house.
Lastly, lighting! I am always consistently taken back by how cheap or expensive lights can be. You can pick up a box of three ceiling lights from Rona for less than $100…Outstanding value! But don't get sucked into the $2000 chandelier! Be modest but get rid of the ugly '80s lights and put something in with a little more modern feel. Oh and don't forget to make sure you don't have any burnt out light bulbs! Make sure everyone works.
To recap: First impressions are everything so make it count; Get rid of anything that feels '80s; Clean, clean, clean; Don't break the bank and keep your projects in scope!
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