What is it that adds value to a home, whether you’re currently selling it or not? Is it a touch of roof paint? Is it sprucing up the garden? Is it outdoor privacy blinds? This article will give you a few suggestions of changes to make in order to boost resale value.
Don’t Overcapitalise
The most important challenge when you’re doing home renovations is not to go above the value of what the house can be sold for. Do renovations that will put the house in a higher price bracket, but not to the extent it would cause you to be out of pocket in the end.
Do a bit of research in your area—the renovations must suit the average selling price. Building a mansion in a first-time buyer’s area will not be suitable, but renovating a ruin in the midst of up and coming millionaires’ homes would work well.
Spruce up the Exterior
You can give the exterior of your home a makeover. Your garden can not only be spruced up, and given colourful plants or long-lasting shrubs, but you can create stone paths and water-wise gardens.
You can also liven up the exterior of your home. Put some face bricks or stonework on the front, or add some treated wooden arches. Paint makes it sparkle. And don’t forget the roof because new roof paint makes a house look so much more expensive.
Lastly, plant some trees for shade with a little bench underneath. Make it look inviting so others would dream of making it theirs.
Upgrade to Energy Efficient Appliances
If you want to impress, upgrade those fridges, freezers and stoves to something that will use energy efficiently. People are looking for these as standard features in houses these days. You could also get a gas or solar heater. Even if it doesn’t add substantially to the value of the house, it’ll save you on running costs.
Finish off the Basement and Other Spaces
The basement, attic and outhouse are often places people neglect. Garbage and antiques are kept there without a thought for its aesthetics. However, if you clean it up, paint it, and create storage areas, it’s an inexpensive drawcard for potential buyers.
These spaces can be dull and boring, and you want to turn them into a selling point. Make sure you have artwork that’s fairly neutral, and plants that liven up the room. This will ensure others see it’s practical for a variety of uses.
Refurbish Your Kitchen and Bathroom
The kitchen and bathroom are the most-used spaces in the house, so the emphasis on beauty and design are highest here. Some tips:
- Make sure the doors of cupboards are modern.
- Add a splashback for the stove—one that is cheerful and appealing.
- A brightening coat of paint will give cheer to these spaces.
- Make sure you have both shower and bath, if possible. People like options.
- Modern, energy-saving devices are useful, with powerful showerheads and clean lines.
- Green is on the menu too, and a few plants not only add interest, but spark creativity through colour.
Add Floor Space
Adding on a bedroom and bathroom also adds value. Not only does it provide a potential guest bedroom, but an option for an Airbnb rental for additional income.
Add Additional Accommodation
You could add additional accommodation like a cottage. This too creates not only rental potential, but again acts as an attractive addition for guests or extended families.
Add Outdoor Entertainment Area
You have an option of adding a veranda with barbeque area, a swimming pool and a games section. This, particularly in Australia, is sure to attract buyers. With the barbeque being central to our culture, we like to entertain outdoors as often as possible.
Ensure that your seating is well-cushioned and comfortable, so the space is truly functional and welcoming.
Clean and Declutter if Showing Your Home
Buyers are attracted to something neutral, but welcoming. Nobody likes clutter or overcrowding, such as untidy bookshelves. You want your home to have a welcoming and pleasant feel, with lots of light and sun on display, along with cleanliness. To achieve this:
- Remove all the items from the mantlepiece.
- Tidy up the papers.
- Put the kitchen equipment away in cupboards.
- Don’t even leave facecloths lying around the bathroom.
In addition, remove all those personal photos. People like to see themselves in a house, so it needs to be completely depersonalised.
Paint
Paint inside a house needs to be in neutral colours. Anyone coming to view may have a complete aversion to colours like brown, orange or grey, and be unable to imagine themselves living with it at all. Keep it simple, and maintain the same colour theme throughout the house.
[Conclusion]
Adding value to your home doesn’t have to break the bank. However, there are some changes that increase the price of your home considerably, such as adding floor space or extra accommodation areas. These are good investments and you will reap the benefit of spending the extra money. Consider carefully, and spend wisely.