10 improvements to boost the value of your home
How do you boost the resale value of your home? Should you add another bedroom, build a pool or a granny flat, or would a garage be better?
While it seems tempting to just go all out and add any feature you can think of, it's important to remember that not every home renovation is going to actually benefit you when the time comes to sell. You need to focus on changes to your home that suit the lifestyle of the neighbourhood. Here are some ways you can do this and boost your home's sale prospects.
1. Get some expert advice
Before you start knocking down walls, it’s a good idea to get a professional such as a real estate agent or an interior designer to give you some advice as to what they believe would add value to your property. The benefit of asking a real estate agent is, they live and breathe property in your local area and are very familiar with what buyers are looking for in a new home.
2. Highlight a standout feature
Does your home have a feature that other properties don't. For instance does it have a beautiful view - can you make enhacements such as enlarge the windows, or change the window treatment so it is easier to see out and enjoy the expanse. If you don't have a view can you create one with smart landscaping? If you have a swimming pool, ensure the lighting is good to help make this a feature. If you have an ugly side fence, you could transform this using a an evergreen wall or vertical planter boxes. If your living area is separate to your garden, bring a bit of nature inside using indoor planter boxes, potted or hanging plants.
3. Invest in your garden early on
A manicured mature garden with established shade trees is very popular with buyers. Growing an established garden takes years to grow – so it’s a good idea to get this under way early. Plus, you’ll get to enjoy the use of the garden long before you sell. Check with your local council about planning laws around trees that could extend beyond your property boundary too!
4. Revamp the kitchen
The kitchen is the one room that can make or break a sale. It’s usually the most expensive room in any house, so prospective buyers don’t want to see a kitchen that needs a total upgrade. This doesn’t mean a total re-fit, but there are some small things you can splurge on that will help make your kitchen more appealing.
- Add appliances
- Fresh coat of paint
- Do up your doors & door handles
- Lift the lighting with fluorescents or spot lights above benchtops and potentially a pendant light for some visual interest.
- Replace old benchtops
- Re tile or fix the floor boards
- Ensure you have good storage and have maximised your bench space
- Ideally having a kitchen that flows outside to an alfresco eating area gives cooks the option to cook in the kitchen if at the outside BBQ
5. Enhance the bathroom
Buyers today like beautiful bathrooms - they want a room they can relax and pamper themselves in, no matter what size or condition your bathroom is in. It is Ok to spend some money on the bathroom to make the most of what you have.
- Replace any cracked basins, toilets or tubs
- Replace your vanity or mirror and add new lighting fixtures to make a really good impression on your buyers.
- If you have small bathroom – consider wall mounted sinks and toilets and towel rails behind the door and use big mirrors to make the room appear twice the size.
- Repaint stained or chipped bathtubs and basins
- Add to this a fresh coat of paint on the walls and you have a whole new bathroom.
6. Go with the flow
A property that flows easily from space to space is important to buyers, as it directly affects how easily and comfortably people can move through the home. Spending time getting this right can add significant dollars to your properties value. Consider:
- Where the kitchen is located, does it flow easily into the eating / living area?
- Do you have an outside eating / sitting area where you can entertain friends in summer or simply relax with a good book? This is an extra room in the eyes of a buyer.
- Is there a smooth indoor / outdoor flow.
- If you are looking at improving the 'flow' of your property don't forget to think about ventilation. Cross breezes in summer can be life saving when its hot. Consider adding shutters, or louvers, larger windows or add large doors to the outside to help bring the fresh air in.
7. Add a granny flat
If you have the space, a granny flat can be a big draw card for buyers for a multitude of reasons. Family buyers love a granny flat as the space can double up as a rumpus room for the kids, a place for the in-laws to stay or a home office. In addition, astute buyers see the opportunity of being able to lease out the external flat and help with their mortgage.
8. A fresh coat of paint
Paint can totally transform your property and help catapult it from the 70’s or 80’s into the 21st century. Consider re-painting the façade of your property if it is looking a bit tired, or if you have exposed brick you could render the façade and paint it. This will help create a good first impression and set the tone for the rest of the property. Don’t stop there, re painting the walls inside also has a positive effect on buyers as it instantly refreshes the entire home. You can’t go wrong with fresh crisp paint job in modern neutral colours.
9. Add extra storage
Another great investment is to add built in cupboards throughout the property – in bedrooms, family rooms, hall ways, garages…anywhere you have the space. Buyers love great storage so this can make your home much more appealing.
10. Create an outdoor entertaining space
An outdoor entertaining area adds a whole new room to your home and buyers love this. When planning your outdoor space, consider how you envisage it to be used. If you have the space perhaps it’s ideal for a large family, so a large dining area may be the best option with BBQ and cooking area. If space is tight, a deck or patio with comfy seating and shade may be the best option or if you have a balcony adding a table setting (even if small) is very appealing to buyers.