“In order to maximise the value of your home and help it sell faster, you should consider performing certain repairs and refurbishments to get it looking its very best,” says Laura Pollard, Head of Product at PerfectRoom.
“While it is clear that renovations can have a positive impact on your sale price, with the average Australian renovation costing a minimum of $40k you want to make sure you that you are performing renovations that will actually pay off and be worth your while.”
Here are Laura’s top 7 tips for maximising the value of your home:
1 Paint the front door
“Buyers make a decision quickly and considering it can take only eight seconds to make a positive first impression, curb appeal should not be underestimated as it sets the tone before the buyer has even walked in the front door.
“A trend at the moment to add extra character and colour to your home is painting the front door a bold colour such as coral, tangerine, aqua or teal. While adding too much personality is never recommended, a single pop of colour on the door seems to be well received by buyers. Consider planting extra greenery or even flowering plants for a pop of colour.”
2 Open up closed spaces
“We’re finding open-plan living to be extremely desirable for buyers and while most new homes have adopted this style, older-style homes often have closed off rooms and opening them up can make a big difference.
“Consider which walls could be removed to provide true, open-plan living for buyers but be sure to engage a structural engineer before pulling out the sledgehammer to make sure the wall isn’t holding up the roof. If you find out that the wall is structural there are ways to still remove it and provides the opportunity to add a statement beam. If the look doesn’t suit your home, it’s also easy to Gyproc and plaster around it for a clean finish.”
3 Upgrade your benchtops and cabinetry
“It’s often said that kitchens and bathrooms sell houses, and I couldn’t agree more. A major reason for this is that other areas in the home can easily be re-decorated whereas the kitchen and bathroom is much harder to modernise and upgrade.
“If you’re looking around and can see dated benchtops and cabinetry or tired looking tiles, it might be worth considering an upgrade. This doesn’t mean you need to rip out the entire space and start from scratch, upgrading the benchtop, painting the cabinets, spraying the tiles a neutral white or updating the hardware (handles, taps, showerheads and towel rails) can make a big difference.”
4 Spruce up the backyard
“Backyards have increasingly become a focal point for home buyers, many of whom are upsizing from apartment living to enjoy the outdoor space that a house provides. If you have the time and budget, think about having the area planned out professionally so that there is a harmonious mix of entertaining & relaxing space.
High end upgrades include an outdoor kitchen, mature plants and using quality materials. Low maintenance gardens are also more in demand so consider where decking or pavers could reduce the amount of mowing required.”
5 Declutter and remove all personal possessions
“One of the biggest rules of presenting an attractive home is to declutter it, remove all personal photographs and elaborate ornamental displays. You can tackle this yourself with some online inspiration or you can bring in a professional. Booking a one-off appointment with a design consultant to advise on what to keep and what to store can provide the guidance needed. Alternatively, hire a home styling company to bring in furniture and decorative pieces for a complete design overhaul.”
6 Increase your square footage
“Adding to the square footage of any home, as long as it’s highly functional, should add a substantial amount of value. Consider whether you can convert the roof space into a guest bedroom, office or extra storage space for example. Even if there isn’t space for a fixed staircase, often a pull-down ladder is an option and there are many companies who specialise in creating this space.”
7 Walk through with a real estate agent
“Much like styling, inviting a local real estate agent into your home can help to define exactly what will and won’t add enough value to make it worth doing. Walk through the property with the agent and ask them exactly what they would recommend. They see things through the eyes of a buyer and can make recommendations around finishes, how to add privacy, walls to remove, areas to upgrade and more. You can ask them exactly how much value it could add as they will have comparable properties to use as a reference.”
For more tips on preparing your home for sale, listen to The Daily Home Edit podcast below: