If you are a regular reader of this blog you’ll know that we moved house back in February and we bought a bit of a renovation project. We managed to buy a house in the perfect location for a really great price just because it needed a lot of work doing to it, and as it is a big house it was daunting for other buyers.
We weren’t put off though, I know that the best way (or only way now) to make money on property is buy renovating and I was really pleased that we bought our house for a great price so that we could be sure that we would make money on our investment. Our house is not just our home but it is also our children’s future.
When so much needs doing to a house it is hard to know where to start. Tile Mountain have put together this infographic is really useful as it shows you how much return you can expect from renovating different areas of your home.
Two big projects we have planned for next year are working on the front and back gardens. For obvious reasons I would rather do the back garden first as the children play out there, but in terms of investment we would be better spending our money on the front garden which is interesting.
It is also interesting to see how things differ in different countries. In Australia curb appeal is massive so improving the appearance of the front has a massive effect whereas it seems like in the US, you don’t get much return on your investment home improvements wise.
At the bottom of the infographic you will see common improvements that drive up the value of homes. This is worth having a look at if you are planning on selling or remortgaging soon, as maybe a little bit of work on these areas could be financially worthwhile.
Disclosure – this is a collaborative post