5 Clever Ways to Increase The Value of Your Home
If you’re looking to sell your home one day, it’s a good idea to continually improve and modernise your space. In coveted cities like Sydney and Melbourne, simple home improvements can really drive up the price when bidding.
“Close to 8.4 million (or 62%) of Australia’s 13.6 million homeowners did some kind of renovations in the last 12 months.¹”
...ready to get that Pinterest board going?
Here are a few ideas to renovate with long-term value in mind.
Paint those walls.
It may sound obvious, but a bit of colour can do a lot for a room. Fresh paint on the walls feels sleek and inspiring – a feeling you definitely want to evoke when selling your home. Try working with a colour scheme for each living area and if you’re really feeling brave, an accent wall can add a lot of personality to a room. If colour isn’t your thing, white tends to stand the test of time.
Renovate the kitchen.
A newly renovated kitchen can really give someone that ‘wow’ factor when walking into a house for the first time. Plus, a new kitchen is pretty nice to have. Completing a kitchen renovation can be an ordeal when it comes to working with plumbing and electrical, but it’s always worth the cost – especially if you have any potential safety concerns. A recent trend that we’ve noticed is simply changing countertops or cupboards versus the entire kitchen.
Freshen up your flooring.
If you think about it, the floors in your home take up the most physical space and have a big impact on a room. A good rule of thumb here is to avoid linoleum and invest in more authentic flooring, such as wood or carpet in a neutral colour. It’s also important to consider your moldings and trim before you invest in a new floor.
Give the loo some love.
The bathroom is an easy room to overlook since it can be costly (and a bit annoying, let’s be real) to renovate. As a seller, you want to show it off as clean and modern, so make sure to give it some attention. We suggest starting with new fixtures and tweaking the details before any major overhauls. You can also research designer look-a-like options to save you some money down the track.
Don’t forget the outside.
If you think about it, the exterior of your house is the very first impression someone has of your home. How might a visitor view it when they walk up? Is the lawn or front walkway neat and tidy? Are the windows clean? Is the paint fresh or could it use another coat?
Our last tip is to try and increase the number of rooms in your home, if you can! We know, this can be tricky, but if you live in a three-room residence and have the means to convert it into four without breaking the bank, it is almost always worth the investment.
Thinking about sprucing up your home? Check your credit scores to find out your borrowing power.