Home improvement can be an excellent way for property owners to increase the value of their home. Any real estate agent will tell you in the real estate market homes requiring less work sell much quicker and at a higher premium than the ones in need of some TLC.
You don't have to have award-winning features to sell, focus on what is important to buyers in your suburb. You'll be on your way to owning a more desirable residence.
Every house is different, but we have put together a few things that will help you add substantial value to your home.
A fresh coat of paint
The easiest way to add increase property value without spending thousands of dollars is to make minor changes to the house. Simple, yet effective it can modernise the entire look and quickly cover up any wear and tear.
Some great ways to update any space include painting, replacing the carpet, or upgrading light fixtures. Something as small as replacing dated door handles to stainless steel can have a significant impact. While living rooms are where families spend a lot of their spare time, so, try to make the room feel as comfortable as possible.
In Western Australia, granny flats have become increasingly popular thanks to the rise of multi-generational living. If you have space, a separate guest house could be a great way to improve property value. Additional accommodation provides a variety of different uses for families. Including privacy for adult children, moving in aging parents, guest space, a home office, or you can rent it out for additional income. If you are going to design and build a granny flat, be sure to have it council approved first. Buyers will be put off by structures that aren't approved hurting your resale value.
Second Storey Additions
Before thinking about renovation extensions, you should consider the location of your home. Adding a second storey is a significant investment, so you need to ensure it's worth your while. The best areas for this are suburbs close to the CBD where space is scarce or where you can take advantage of a picturesque view. Whether you are selling, planning to rent, or living in your home, taking advantage of space and building up will significantly increase value.
Homebuyers want to imagine themselves living in your house, so it is essential to make sure that high usage areas are presentable. But, don’t start knocking things out yet. Before you decide on a significant renovation think about how making smaller changes like upgrading tapware
A general rule of thumb is kitchens and bathrooms sell a home. Wet areas are expensive and disruptive to replace the first thing most buyers consider when walking through a home is the conditions of these spaces.
- New Homes Guide
It's true what they say first impressions count! So the best way to get potential buyers excited is to improve your curb appeal. This can be done at a low cost while still being extremely useful, a trip down to your local hardware store will help you achieve this.
Something as simple as a bright coat of paint on your front door could improve your curb appeal with minimal cost, and you can DIY.
Before you decide to do any significant renovations, make sure you do the proper research to ensure a good return on investment. Happy renovating!