How to Add Value to Your Home Without Breaking the Bank
Whether you are renovating to sell, rent or improve your lifestyle, there are some areas worth investing in that will add real value to your home. From costly renovations to cosmetic touch-ups, we’ve put together a handy go-to guide to help identify where you should put your money, to get the most value when it comes to selling your home.
A good, thorough clean and tidy will get rid of any lingering odours and show off your property at its best. Pay attention to bathrooms and kitchens, replacing any tile grout, cleaning out extractor fans and fixing up any chips in the bath or sink.
First impressions count
The entrance of your property needs to make a strong first impression.
- Focus on the façade – update the exterior by washing walls and repainting, to ensure everything looks fresh, clean and inviting.
- Make sure grass is neatly trimmed and consider adding small touches, such as potted plants or an outdoor chair to give the entrance a warm and welcoming feel.
- For older-style homes with blond brick, instantly modernise your home with an application of cement render.
Before you make any changes to your property, speak with your real estate agents. They are well versed on what the market is after and where you will get the best return on your investment.
Let there be light
Good lighting can really open a space and help to make it appear bigger than it is. Make sure all your light fittings are in good working order and install additional lamps and new globes where necessary. If natural light is abundant, make the most of it by dressing windows and ensuring the glass is glistening clean.
Clear out clutter
Remove any unnecessary items and furniture to create a blank canvas for potential buyers, which will help them to visualise the space as their own. Avoid cramming everything into cupboards as visitors will want to have a look at any storage options. Add a few well-placed mirrors to create the illusion of space.
Make it modern
One of the best ways to add value to a home is by updating your kitchen and bathroom. Stop by a few open homes in your area and get an understanding of what buyers are looking for, and what you are competing against. Make the necessary changes – new countertops and modern appliances, replace cabinets or broken tiles – and make sure everything is structurally sound and in good working order.
Cosmetic changes are not only affordable but can also be done by novice DIYers. Freshen up the home with a coat of paint in a modern colour scheme, remove tired and worn carpet throughout the home in favour of wooden or tiled flooring, and update the blinds or curtains.
Room for more?
Adding a bedroom can push the value of the home up, but other rooms should not be compromised to get that extra room. Open plan living areas can be obtained by removing walls. You can create a more spacious area by incorporating an outdoor entertaining area that can be used year-round. Alternatively, repurpose an existing structure to serve a wider function, i.e. an office that can double as a guestroom.
The great outdoors
When preparing your home for sale, it’s important to ensure it’s looking its best. The interior of your house is important, but it’s worth bearing in mind that a well-maintained courtyard or garden could also help drive up the price of your property. When making cosmetic changes, think timeless by keeping it clean and simple, avoid trends.
Most importantly, ensure your space is accessible, spacious and tidy. Mow lawns, and if time allows, lay down fertiliser and lawn seed to make sure your grass is looking its best. Prune back big overgrown shrubs, sweep away dead leaves, remove weeds and roll up hoses to give your garden or courtyard an open, uncluttered feel. Remember, buyers need to be able to picture themselves in those spaces, so it’s important to try and create a desirable area.
Granny flats have seen a surge in popularity recently and if done correctly, they can add serious value to your property. A standalone granny flat, if you have the space, can serve a wide range of needs – a guesthouse, a home office or a small rental property. Important things to consider:
- Design the area to be totally separate from the main house.
- Ensure the unit has full council approvals.
- Where possible, a separate entrance with parking is advantageous.
- Consider having the dwelling separately metered for added independence.
In the neighbourhood
When preparing to sell, it’s important that your property looks its very best to ensure you get the price you want. However, sometimes factors completely out of your control may drive up the price that people are willing to pay. There are some neighbourhood features that tend to attract a high quota of buyers, thus pushing up property values – from quality schooling, foodie scene, green spaces, grocery stores and transport links. As these are out of your control, leave it to your agent to identify the key selling points of your neighbourhood and draw the right buyers in through a targeted marketing campaign.