6 High Return on Investment Renovations (that Won't Break the Bank)

They say change is the only constant, and this holds true even for our beloved homes! There comes a time when those walls, doors, and floors scream for a spruce-up, but who really wants to empty their savings account in the process? You want improvements that make a difference, are easy on the pocket, and pay off in the long run. Well, we've got you covered. Here's a list of budget-friendly renovations that'll give you a bang for your buck.

1. Garage Door Replacement

Average Cost: $1,800 - $6,000

Swap your antiquated garage door for a modern, insulated one that enhances energy efficiency and security. Not only will this update lend a fresh, contemporary look to your home, it also provides tangible functional benefits, including potentially lowering your energy bills and adding an extra layer of security against potential break-ins.

2. Entry Door Replacement

Average cost: $150 - $2,000

Your entry door, the first impression maker, deserves some attention. A robust, stylish entry door enhances both your home's curb appeal and security. Take this opportunity to consider smart locks or keyless entry systems - a simple update that marries aesthetics and modern convenience.

3. Exterior Paint

Average Cost: $5,500 – $20,000 for exterior painting of a 2-storey home.

Revitalize your home's exterior with a fresh coat of paint. Choose a colour that echoes the essence of your home's style and architecture. This investment not only makes your home stand out but also protects your home's exterior from weather damage, potentially saving you from costly repairs in the future.

4. Build An Outdoor Patio

Average cost: $3,000 - $20,000

Building an outdoor patio is an investment in lifestyle as much as home value. Whether you opt for gravel, concrete, pavers, or brick, your patio can be a hub for summer activities like barbecues and parties. It can also extend your living space, providing a perfect setting for alfresco dining or simply enjoying your outdoor environment.

5. Install Wood Flooring

Average Cost: Solid Timber $75 - $130 per sqm. Engineered timber $65 - $110 per sqm.

Hardwood floors combine timeless elegance with practical durability. Opt for trending whitewashed tones for a sophisticated, modern look. Beyond their aesthetic appeal, these floors can endure the wear and tear of daily life, making them a long-lasting investment that boosts your home's value.

6. Replace Kitchen Countertops

Average cost: $520 for the basic slab but up to $1,500 for an expensive finish with cutouts

Consider upgrading your kitchen starting with the countertops. Quartz, known for its greater durability compared to granite, is not just an aesthetic improvement but a practical one. It can withstand all your kitchen activities and enhance your cooking experience, while also adding resale value to your home.

Embarking on these renovations not only breathes new life into your home, but it also enhances its long-term value. Don't rush into all improvements at once. Instead, prioritise the ones that offer the most significant impact on your home and your daily life. Remember, these renovations aren't simply cosmetic—These are strategic investments that not only improve your home life, making it more comfortable and enjoyable, but can also increase the resale value of your home.

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