The word ‘renovation’ is enough to strike fear in the hearts of any penny-pincher. It elicits images of $50,000 kitchen revamps and extravagant bathroom overhauls. But what if we told you upgrading your investment property could cost you less than $500? 

Granted, they’re not massive renovations, but these little affordable upgrades will breathe new life into your investment property. This is so important, especially if your rental property is about to go back on the market in search of new tenants. Small changes will attract the right kinds of applicants and may even slightly increase the value of your property. 

So without further ado, here are H & H’s 5 favourite upgrades for under $500.

(Credit: Charles on Unsplash) Making your investment property look amazing doesn’t have to be expensive

1. Add some storage for your tenants

This is a simple yet super functional renovation that can add so much appeal to your investment property. No one wants their space to feel cluttered or overwhelming, so having plenty of creative storage solutions for your tenants will attract far more applicants. This will make your search for the golden tenant way easier. 

Shelves are a fantastic and cheap storage solution. You can pick up everything you need from your local Bunnings and put them up yourself in one afternoon. It’s that easy! 

One area of the house that’s often overlooked is the laundry. Howard’s Storage Solutions in Fortitude Valley have an awesome little shelf unit designed for keeping the laundry orderly and functional. The best bit? It’s only $200! You can transform this overlooked space and create more options for your tenants.

(Credit: Howard’s Storage World) This little shelving unit from Howard’s Storage will give your tenants more options for laundry storage

2. Switch out the kitchen cabinets

If you’ve had the same kitchen cabinets in your property for a while, they can start to look a bit dated. However, you don’t have to renovate your entire kitchen and spend thousands to breathe new life into the space. Ikea has chic looking cabinets that will fool anyone into thinking you’ve dropped some serious cash on your kitchen. Check out these gorgeous modern cabinets for under $300!

(Credit: Rustic Vegan on Unsplash) Fresh cabinets will make your kitchen look like a million bucks

3. Pop a new mirror in the bathroom

When mirrors age, they warp, discolour, and age the room they’re hanging within. Bathroom mirrors especially fall prey to this. After all, they’re in the one room of the house that becomes damp and humid daily! Installing a new mirror in the bathroom will brighten the whole space. Also, the larger the mirror, the larger the bathroom will appear! Check out this beautifully framed mirror from Pottery Barn, Fortitude Valley.

(Credit: Pottery Barn) The Astor mirror will add modernity to any room

4. Change taps and faucets around your investment property 

At H & H, we’re all about environmentally friendly solutions! Water conservation is such an easy way to make your property more sustainable. It’s also a cheap fix-up that can have your investment looking schmick. 

If you change the taps and faucets one at a time every few months, within a year your home will be entirely water-efficient and looking amazing. Your tenants will love paying less for their water bills as well. 

If you’re looking to combine water efficiency with style, check out this matte black 3 function showerhead from Bunnings.

(Credit: Gregory Butler on Pixabay) Matte black fixtures are really on-trend right now

5. Install some new light fixtures

Lighting isn’t something many people think about unless a bulb has blown. But having modern lighting can freshen any room up entirely. It doesn’t have to break the bank either! You can have very architectural lighting in your home for under $500! 

This pendant light from Lighting Illusions Fortitude Valley would be an incredible addition to any kitchen space. Just picture it hanging over an island benchtop!

(Credit: Ionut Vlad on Unsplash) Pendulum lights add character and architectural character