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 things like location, population growth, infrastructure and the mercy of a fluctuating market, there are some things within your control that you can alter to increase your home’s value.
It’s 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. In fact, when renovating for profit it’s very important to avoid overcapitalising.
Here, we run through 11 easy things you can do to make your home more appealing to buyers as well as increase its value.
1. A new paint job
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 important to select a shade with broad appeal. Check out our list of Australia’s most popular paint colours for inspiration.
2. 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.
3. Improve the outdoor area
An outdoor space perfect for entertaining will increase the desirability of your home.
While shade and shelter are essential, fire pits have also become a popular addition to many backyards.
4. Install gas heating and appliances
Gas appliances are a favourite home feature for a couple of reasons plus they’re efficient. Gas heaters and in particular, flame-effect fires, give all the warmth and comfort of a wood heater without the hassle or damage to the environment.
Installing gas cooktops and ovens add value in the kitchen and is often preferred to electric ovens and cooktops due to its ability to provide instant heat and even temperature compared to electric. As for the environment, gas may produce less greenhouse gas emissions than electricity.
5. Simple swaps
It’s possible to create a whole new bathroom look without renovating. Small, but modern updates, such as replacing handles and taps is a simple way to elevate the appearance of this room.
Consider painting tiles if they look old, or grubby. If your vanity is outdated, replacing it will make a remarkable difference to the feel of the room.
6. Street appeal
A home’s kerb appeal 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.
2. Stage it right
Don’t underestimate the results on buyers of making your home look at though it’s ready to move into – new fresh pillows and linen on beds, clutter free cupboards and surfaces and all rooms sparkling clean and ready to go wont put off those not willing to exert themselves towards a makeover as soon as they move in
Essentially, staging your home for sale is all about selling the idea of a life there to prospective buyers. Perhaps people can look past a little dodgy paint work and a few easy fixes, but if you do the work for them, they’ll focus instead on the possibilities of a life to be enjoyed in your home.
8. Build a granny flat
It’s becoming more common for generations of families to live together and split the cost of living.
If you have space, adding a granny flat to your property can increase the overall value as long as it’s done right. They’re also a great way to generate an income to help pay off that mortgage.
9. 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,” says Laura Pollard, head of product at PerfectRoom.
“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.”
10. Increase square footage
“Adding to the square footage of any home, as long as it’s highly functional, should add a substantial amount of value,” says Laura.
“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.”
11. 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,” says Laura.
“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.”