Dreaming about the finished product after a renovation can definitely be exciting. However, making sure your renovation will actually increase the value of your property is important if you’re looking to sell your home any time soon. The right renovations can make your property significantly more appealing to potential buyers.
It’s important to note that there isn’t a one size fits all in terms of renovations. For example, adding a pool might make more sense if you’re selling a property on the Sunshine Coast compared to if you were selling an inner-city property in Brisbane. In a similar way, switching to marble benchtops might be more beneficial in an affluent suburb than in a working-class family suburb.
Want the Real Scoop on Pools and Property Value? Don’t miss out on our detailed article about How Much Value Does a Pool Add to a House?. It’s a must-read for potential pool owners!
1. Kitchen renovation
We’ve all heard it before, the kitchen is the heart of the home. The saying goes for renovations as well. One of the most important rooms for a buyer will be the kitchen/ Renovating your kitchen might involve changing your counters, cabinets and handles. Sometimes, even a repaint will be enough to make your kitchen look newer.
Renovating your kitchen can also involve getting new and improved appliances. If you’re willing to dish out even more money, you could look into getting an entire remodel. However, with the high costs involved, it’s important to weigh out whether or not it would be worth it for your particular property.
2. Bathroom renovation
If there’s any other room that’s crucial in a home, it’s the bathroom. Retiling, updating handles and changing counters can all contribute to giving your bathroom a refresh. More keen buyers could look into the state of your plumbing as well. Though these changes could cost a significant amount of money, you have a big chance of making a return on your investment, especially if your bathroom currently looks battered and lived-in.
If you’re hoping to keep your budget low, a thorough clean might be all your bathroom needs. A dirty bathroom will be off-putting and could make your property worth considerably less. After giving everything a scrub, you’ll want to make sure that there is no visible rust and the grouting is clean.
3. Garden landscaping
If you have a front lawn, garden landscaping could add significant value to your home. It might not be the same type of renovation as a kitchen or bathroom renovation but it’s one of the cheapest ways you can add value to your home. With first impressions being so important, you’ll want to make sure your lawn is mowed and that you add easy-to-maintain plants.
4. Repaint interior and exterior
Finally, one of the easiest things you can do is to repaint the interior and exterior of your home. Even hiring a professional will be relatively budget-friendly compared to other forms of renovations. Typically, you’ll want to make sure you keep your paint a light, neutral colour. This will appeal to the widest range of buyers, plus, make your property look brighter and newer.
If you’re at a loss for what type of renovation you want to do, don’t be afraid to talk to local real estate agents or other property professionals. You could also look at houses in your area that have recently been sold to see what types of renovations did the best. Remember to ask for a second or third objective opinion before committing to anything!
Guest author: Ellen Orton is the Head of Business Operations at www.openagent.com.au, an online agent comparison website helping Australians to sell, buy and own property.