7 Ways To Enrich The Value Of Your Property
Ready to knock down a few walls and install the home cinema room you always wanted? Considering a personal bowling alley in the backyard? Will your bathroom is not complete until outfitted with a sauna?
Some renovations may sound good on paper but may not actually add much value to your property, particularly if it’s something that doesn’t appeal to the masses.
Improving your home is a great way to refresh the property and potentially raise the price. It is important, however, to make sure you are choosing the right renovations to actually make a difference.
Remember to update your home and contents insurance to reflect the new value of your property and avoid being left with gaps in your cover if damage were to occur.
1. A focus on energy efficiency
Whether you are planning to sell your home or want to live in the place for many years to come, energy efficiency should be a primary concern.
Making small changes, like replacing light bulbs, can be beneficial, but for those considering green renovations, bigger improvements may be on the cards.
Investing in insulation, solar panels, and efficient heating and cooling systems can not only improve your home’s value but also reduce running costs for owner-occupiers.
2. An outdoor living area
Australia is famous for its long, hot summers, so it pays to have an area where you can make the most of the good weather.
Building a deck is a wise investment, particularly when you can also install shade cloths and protection from the rain.
Even a simple outdoor entertainment area can have a big impact on the value of your home, so now is a good time to start researching sun umbrellas and barbecues.
For adding a further appeal to your home you can also install a driveway through the services of bitumen driveways Sydney that will increase the aesthetics of your home too.
3. Replace the front door
You’re planning to sell but want to increase the value of your home. You take a look at your personal banking account and are greeted by a disappointing figure.
However, before abandoning your improvement plans altogether, consider the cheaper changes you can make that can have a high return on investment. Something as simple as replacing the tired, old front door can make a stark difference.
As the first point of contact, would-be buyers will have with your abode, the front door has a surprising influence on the overall opinion of a home – so think about investing in a whole new entrance or even just giving your current doorway a new coat of paint.
4. Indulging in proper cleanup
Any would-be buyers will immediately have a more favorable impression of your home when it is neat and tidy than when it’s cluttered and messy.
Even if you’re not actively looking to sell your home right now, regularly tidying up and cleaning it will help you avoid serious maintenance issues later down the track, like mold which can quickly become a major health concern that will devalue your home.
5. Convert a disused space
As your family’s needs change, it’s quite likely that you will end up with a disused space in your home that you could turn into an asset. In the case of most family homes, this will be the garage or garden shed.
You might have sold your car in favor of a slower life, your children may have taken their vehicles with them when they moved out, or your husband might have ditched his woodworking hobby – whatever the case, see if you can turn your garage or shed into a living space, studio or personal haven.
Before commencing, however, check if your space is structurally sound for conversion and get all necessary planning permissions.
While this is a more involved home improvement project, it also offers the highest possible return if you were to resell your home or rent out space.
6. Focus on the details
Even the smallest touches can have a big effect on the appeal of your home. Emma Deriu from Rate Comparison suggests “Rather than focusing on renovating whole rooms (which can be costly) focus on upgrading doors, knobs/handles, light fixtures, and flooring.
Walls and cabinets can simply be painted if they need refreshing, too. Focus on brightening and opening up your home by removing unnecessary furniture, using neutral tones like white or magnolia, changing blinds to let in more sunlight and undergoing a deep clean. Bright, open spaces instantly lift the home.”
7. Hire a professional home inspector
To make sure no detail is overlooked, consider hiring a professional home inspector, especially if you’re looking to sell your home very soon.
A home inspector will be able to pinpoint any areas that need maintenance or can be improved to boost the value of your home.
By having home inspection records on hand, you can also prove to prospective buyers that you have consistently maintained your house.
With the knowledge from a professional inspection, you can make an informed decision on how best to spend your money on your home.