By Sophie Haslett For Daily Mail Australia
To make a property look more expensive, many think that you need to spend thousands of dollars and make huge changes to the structure and layout of your home.
But one expert has proven that in some cases, all it takes is a simple lick of paint and a few cosmetic refreshes to add $60,000 in value to a property.
TV renovation expert, Cherie Barber, recently shared with FEMAIL how ‘the power of paint’ and just $10,000 resulted in a massive $60,000 profit.
Cherie also revealed the paint colours that can make your home look more expensive, and the one hue coming in this spring that will make you big bucks.
TV renovation expert, Cherie Barber (pictured), recently shared with FEMAIL how ‘the power of paint’ and just $10,000 resulted in a massive $60,000 profit
Cherie also revealed the paint colours that can make your home look more expensive, and the one hue coming in this spring that will make you big bucks (pictured: the home she transformed before and after
According to Cherie, cosmetic refreshes like paint are key to making a profit with a house (pictured: the heritage property after)
According to Cherie, who recently took on a heritage property in Sydney with a budget of $10,000, while you might not expect it, cosmetic refreshes like paint are key to making a profit with a house:
‘Paint alone can lift your home’s value by between six and ten per cent,’ she told Daily Mail Australia.
‘As you can see with this makeover of the Botany property, it netted a $60k net profit with just the power of paint and property styling.’
To renovate the ‘tired-looking’ property, which the owner Michelle had been living in for ten years, Cherie explained that she started with the exterior.
When it came to the interiors, Cherie did things like internal painting throughout the property, which gave it an automatic lift (main area pictured before and after)
‘Paint alone can lift your home’s value by between six and ten per cent,’ Cherie told Mail Australia (pictured: the kitchen before)
Cherie spent in and around $10,000 on the entire project and had a $63,000 net profit margin afterwards (pictured: the kitchen afterwards)
‘At first, I was stumped by the roof colour (which I didn’t have the budget to change),’ she explained on her blog.
* Property value (pre-renovation): $1,200,000.00
* Renovation spend: $11,829.42
* Renovation time frame: 9 days
* Property break even point: $1,211,829.42
* Property value (post-renovation): $1,275,000.00
* Net Profit Margin: $63,170.58
‘But I love that it meant I had to get creative. I love how the terracotta red is made modern with crisp white trim and walls in Taubmans “Wisecrack”.
‘The red door, garden clean up and window boxes all make this a welcoming first impression, while decorative fretwork adds back some heritage appeal that had long been stripped away.’
When it came to the interiors, Cherie did things like internal painting throughout the property, the installation of new curtain rods and carpets in two of the bedrooms and tile painting in the bathroom.
She also re-purposed old furniture such as the porch chair and old garden urns with paint; something which she said all homeowners should do before they throw something out.
She also did things like the installation of new curtain rods and carpets in two of the bedrooms and tile painting in the bathroom (pictured: one of the bedrooms before and after)
Tile painting in the bathroom was key to updating the ‘tired-looking property’ (bathroom pictured before)
The bathroom looked as though it had a new lease of life with appropriate painting (bathroom pictured after)
‘Inside, it was paint, paint and more paint… plus the addition of professional styling, which brought this home back up to date,’ Cherie explained.
‘There were two unavoidable budget blowouts with some rotting joists under the floor in bedroom three, and some less than safe electricals that resulted in my budget going from $10K to just under $11,829.’
But, she said, the proof was in the pudding, with the net profit margin finally measuring in at $63,170.58 in total, after $11,829.42 spent.
Elsewhere, Cherie did things like re-purpose and re-paint old items of furniture to give them an update (pictured: the outside area before and after)
‘Inside, it was paint, paint and more paint plus the addition of professional styling, that brought this home back up to date,’ Cherie explained (pictured: one of the bedrooms before)
Minor, inexpensive tweaks were made in many areas of the property (pictured: one of the bedrooms afterwards)
Cherie (pictured) revealed exactly what she did to the Sydney home
Internal painting throughout
External painting of facade only
Cosmetically refresh the kitchen through tile & laminate paint
Cosmetically refresh the bathroom through tile painting & other minor tweaks
Fix structural floor issue in Bedroom three (unplanned cost)
Update electricals (new ceiling fan, 4 x downlights, fix faulty GPO’s)
Install electrical safety switches to the meter box (unplanned cost).
Install new carpet to bedrooms two & three
Install new curtain rods & curtains
New landscaping works to facade (new plants, paving paint, lights, fretwork)
Repurpose old furniture with paint (porch chair & old garden urns)
Speaking about the paint colours that will add the most value to your home, Cherie said it’s all about soft neutrals – and never more than three colours outside (pictured)
‘Soft neutrals are always in fashion,’ she said. ‘Everything from soft greys to coffee colours, whites and light dusty greens’ (pictured: the interior of the Sydney home)
Finally, if you want to go bold on your walls inside, then go dark, but always use a white trim to contrast against and lift a room (pictured: the main area before and after)
Speaking about the paint colours that will add the most value to your home, Cherie said it’s all about soft neutrals:
‘Soft neutrals are always in fashion,’ she said. ‘Everything from soft greys to coffee colours, whites and light dusty greens.’
The leading renovation expert said that when you’re dealing with the outside of a property, avoid ‘garish colours and never have more than three colour on the outside of your home (walls, trim and door).’
She added that ‘using a bright red, a punch of yellow or even an on-trend pastel is no risk because you can easily and inexpensively change it at any point’.
Finally, if you want to go bold on your walls inside, then go dark, but always use a white trim to contrast against and lift a room.
‘Deep greens are set to come in this spring, so if you want to bring the outside in, now is not a bad time to opt for dark green,’ she concluded.