How You Could Be Missing Out on Making Money from Your Home

So many of us invest large amounts of our time reading articles or learning new ways on how to save and make more money. Maybe it’s just me, but I love a bargain. That sense of satisfaction knowing you got a great deal just because you put in that tiny bit more effort to do some research. It’s a good feeling.

Then why do so many of us overlook one of the easiest places to save money, our own homes. I’m not necessarily talking about starting your own home business. They’re fantastic and definitely a great side hustle that if done properly can scale well but I’d be lying if I said they didn’t take up a lot of time and effort. No, I’m talking about something much simpler.

Would you believe me if I told you that something as small as changing your front door or painting the inside of your home a different colour could save you hundreds of pounds?
Well, it doesn’t matter if you don’t, because it’s true. There are loads of different ways you can save yourself money by making small changes to your home.

First things first you need to find out how much your property is worth. There are loads of companies out there that will help you with this, find one that will value your house quickly and without any catches. Then you can check back after you’ve done the work and find out exactly how much you’ve managed to save yourself.

Changing the colours of your house

Zillow, a leading real estate and market research company, recently produced a 2018 report that showed how a black front door can increase your home’s value by over £4,000. Red, brown and yellow doors typically reduce the property value with dark navy blue, black and light blue all having a positive effect.

This advice doesn’t just go for your external doors but can be used for everything from your internal doors to your choice in wallpaper and the general colour schemes you use throughout your home.

Zillow’s research continues to show that while the popular trend for using white paint inside your home might seem like the right idea, it will actually decrease the value of your home. Blue paint, specifically blue bathrooms, sell for a lot more than expected.

I recently read an article that suggested people save money on wallpaper by making their own ‘artsy’ version. DO NOT DO THIS. If you are not a professional artist it’s unlikely this will go well, it will not only look awful but could potentially ruin the wall. If you are looking to sell your house in the near future, pick something that compliments the rest of the room.

Protecting Your Home

If you aren’t planning on moving, you should consider paying for anti-mould paint or another feature that helps protect your walls. Damp, rot and other forms of structural damages can often creep up on you. These problems not only cause huge amounts of stress but can get very expensive.

Pre-emptive actions are a massively under-rated way of saving money. A small amount of research and a cheap pot of sealant can go a long way.

Do some gardening

An attractive garden can do wonders for your home. The difference between a well-kept back garden and an area overgrown with different weeds and plants is huge. We’ve all seen it happen and secretly been glad that we aren’t the ones who have to look out the window every day to see it.

Even if your back garden isn’t a complete jungle, some tidying up round the edges will still go a long way. Keep the grass short, have a small variety of different coloured flowers and keep rotting objects to a minimum. You know what I mean, that old bench, a child’s toy slide or a bird bath that you’ve been meaning to throw out for years. They might contain fond memories but if they’ve seen better days then it might be time to say goodbye. Replace them with something aesthetically pleasing and easy to maintain, like a rock garden or a basic water feature.

Cut back anything that might be blocking sunlight from your house. Having a room in your house that catches the sun is a big deal, it adds natural daylight saving you money on electricity but also makes the room more inviting and homelier.

Upgrades and Extensions

If you have a bit more of a budget then adding conservatories, extra bathrooms or simply doing a loft conversation is a worthwhile investment. All of these things can significantly increase the value of your home. They create more space and give them home a less cluttered feel.

Converting your cellar can potentially add up to 30% value on to your home. That’s a lot of money and is definitely worth the extra effort. Just make sure you don’t need planning permission before you start the work. While making structural changes to a listed building probably doesn’t need it, its not a bad idea to contact your local planning officer.