Whether you’re re-decorating a newly-bought property you have plans of flipping or renting out, there is a way to go about your interior decorating efforts which actually adds value to it — tangible value which could see you adding a few tens of thousands of pounds to the re-sale price (if you’re flipping) or a couple of hundreds, or maybe even thousands as well (if you have plans to rent it out).
So it’s clear that what you do as part of your interior decorating can add value to your home, but it’s important to know this because the complete opposite could happen. How you decorate your home could in fact take value away from it if you approach it in a certain way.
Before we get into the actual decor itself, however, it’s perhaps worth touching on the reasons why you might want to re-decorate for the increased value of your home property if it is indeed a property you view purely as your home and you have no plans of selling it or renting it out. For some, it might just be to add something new to their monotonous routine. This could be done in so many different ways. For instance, there might be a wallboard that you tend to use for hanging various photos or paintings. In case this drywall needs a repair due to some holes that have been forming, you can contact a professional for Boston Drywall Repair and they will get it done in no time. Afterward, you can paint them to make them look new, and voila, you’ve got a whole new space.
A Home and Investment
Neo financial experts, advisors and wealth-creation gurus (whether legitimate or otherwise) may be very quick to refute the age-old belief that a home is an investment, citing it to rather be more of a liability because it sucks money out of your bank pocket as opposed to putting some in. They’d be correct if their assumption that all you’re doing is paying off your mortgage over the typical bond period of between 15-20 years are true — more like 30 years in modern times. Who are they to make such assumptions though?
If you are lucky enough to have paid off your property, then your home is indeed an investment — an investment which can be used as collateral to raise some capital (a loan against your property or refinancing over a short-term period) to perhaps start a business or use that money for something else which will generate you some returns. Building an ADU (accessory dwelling unit) in your yard with help from builders like United Dwelling could also be an option, as it can serve as a source of passive income, or simply as a guesthouse for when you have people over. In either case, it could add quite some value to your overall property.
So it is indeed in your interests to decorate or renovate, etc. with the idea of adding value to your property, even if you don’t plan on selling it or renting it out.
Trend vs. Sentiment
All it ultimately comes down to is whether you do up your interiors and complete other decorations according to established trends or according to sentiment, with regards to the styling. A fitted bedroom which has a spinning bachelor’s bed in the middle with a Playboy theme, for instance, is a style which is more personalised and falls in line with sentiment more than it does with trendiness. It would take value away from your property quite simply because any prospective new owner would likely have to re-decorate with maybe something similar to what Neon Mama provides. The bank from which you get the loan or mortgage refinancing views itself as a buyer in this case, although a lot of things would perhaps have to go wrong for any repossession proceedings to come into effect.
Otherwise it’s as simple as established trends trumping sentimental styling if you want to increase the value of your property through your decoration efforts as opposed to decreasing the value.