Whether you’re looking to sell now or later down the track, it pays to keep your home up to date.
If you own a property, chances are you’re hoping it will one day be worth more than you paid for it. And while much about a property’s value relies on location, population growth, infrastructure and the mercy of a fluctuating market, there are many aspects within your control that can make it more attractive to buyers and increase your home’s value.
Often the smallest changes that have the biggest impact, so don’t feel as though you have to undertake a full-scale renovation to make a return. When renovating for profit it’s very important to avoid overcapitalising.
Here, we run through seven affordable tasks you can do to make your home more appealing to buyers as well as increase its value.
Give your walls a new coat of paint
A new coat of paint is the easiest and most cost-effective way to refresh the look of your home while boosting value. Decide whether you want to redo the whole house or focus on a couple of rooms, or perhaps a feature wall.
As for the colour, it’s been said that ivory is the one colour that will add value to your home.
Increase storage space
Unless you’re converting to hardcore minimalism, zero storage space is going to be a massive shortfall for potential buyers.
Think open shelves in the kitchen, bathroom and laundry, Additionally, installing hooks on the back of doors is another simple convenience that’s often overlooked.
Improve the outdoor area
An outdoor space is perfect for entertaining and will increase the desirability of your home.
While shade and shelter are essential, fire pits have also become a popular addition to many backyards.
Install a heat pump and make sure appliances are up-to-date
Ensuring the home is warm and dry throughout the year will help add value to your home.
Also make sure appliances are up-to-date as this will help your existing home compete with new builds on the market.
Refresh simple elements
It’s possible to create a whole new bathroom look without renovating. Small, but modern updates (such as replacing handles and tapware) is a simple way to elevate the appearance of this room.
If tiles look old or grubby, consider a flick of paint. Replacing an older vanity would also make a remarkable difference to the feel of the room.
Consider your street appeal
How your home looks from the street influences desirability. Adding a fence can be expensive but won’t necessarily increase the value of your home. However, it would be worth fixing and painting any existing fences around the property.
Additionally, replacing or painting your front door a different colour will boost your curb aesthetic for little cost.
Décor and interior design
Adding things like cushions, rugs and throws can make a big difference to the look and feel of your home. Update lampshades and consider some artwork.
If you are selling your home, potential buyers need to be able to see the space as somewhere they could potentially live.