Key things you should renovate to increase your propertys value
By Melbourne Property Stylists|April 27, 2016
Are you ready to put your property on the market? Tempting though it might be to splash out on expensive landscaping and a complete remodelling of your home in order to increase its value, the truth is that this is not a good investment of your money. When it comes to renovating your home in order to maximise your asking price, these are the key areas that you should focus on:
Security and safety first
Often the first concern of a homebuyer is security and safety, above the need for an expensive granite worktop, for example. So look to renovate the front door and access areas, including garage doors, as not only will this add to the property’s overall kerb appeal, it will also add a sense of security.
“You never get a second chance to make a first impression”
Focusing on kerb appeal is key, so ensuring that you update the basic landscaping around the property, plant up the entrance and approach to the home, and repaint the front door is really important.
This also goes for any repainting of the outside walls, woodwork and trim, but make sure you stick to neutral colours. Potential buyers have to be able to envisage themselves living in your home, and while you might enjoy a rainbow palette around the house, not everyone feels the same way.
Energy saving and green credentials
Although putting in new windows can be one of the more expensive parts of a renovation, it has been suggested that you could get back around 75% of the cost when it comes to reselling a property. This is because anything that shows a prospective buyer that they can make longer term savings through cutting down on energy bills should be a key item to focus on during a renovation. The same goes for installing energy efficient boilers or heat sources, as well as good insulation.
Room for improvement
If you are going to renovate or remodel, then make the most of unused space to add value to the property, such as adding another bedroom in the attic. Increasing the number of bedrooms moves the property from being suitable for just a couple or a small family to one that will appeal to a far larger market audience.
If you have a small dining and kitchen area, consider knocking through and turning the space into one spacious, open plan room with a modern family kitchen that will appeal to everyone. The kitchen is the heart of the home, so focus on making the most of this part of the house. Note that it doesn’t have to be a complete overhaul, but refreshing the cupboard doors, adding a stylish splashback and putting in new worktops will work wonders.
Focus on the minutiae
Last but not least is an area that is often overlooked by people when renovating their property to sell. There are any number of high cost fixtures and fittings that can be bought, but the cost of these will not be recouped when the house is sold.
On the other hand, deciding on one style throughout the home to give it uniformity does not have to be expensive. Choose the same style for the smaller items of light fixtures, taps and doorknobs, and this will make an impact on your buyer, as well as the real estate agent who comes to value the property. Best of luck!
Security and safety first
Often the first concern of a homebuyer is security and safety, above the need for an expensive granite worktop, for example. So look to renovate the front door and access areas, including garage doors, as not only will this add to the property’s overall kerb appeal, it will also add a sense of security.
“You never get a second chance to make a first impression”
Focusing on kerb appeal is key, so ensuring that you update the basic landscaping around the property, plant up the entrance and approach to the home, and repaint the front door is really important.
This also goes for any repainting of the outside walls, woodwork and trim, but make sure you stick to neutral colours. Potential buyers have to be able to envisage themselves living in your home, and while you might enjoy a rainbow palette around the house, not everyone feels the same way.
Energy saving and green credentials
Although putting in new windows can be one of the more expensive parts of a renovation, it has been suggested that you could get back around 75% of the cost when it comes to reselling a property. This is because anything that shows a prospective buyer that they can make longer term savings through cutting down on energy bills should be a key item to focus on during a renovation. The same goes for installing energy efficient boilers or heat sources, as well as good insulation.
Room for improvement
If you are going to renovate or remodel, then make the most of unused space to add value to the property, such as adding another bedroom in the attic. Increasing the number of bedrooms moves the property from being suitable for just a couple or a small family to one that will appeal to a far larger market audience.
If you have a small dining and kitchen area, consider knocking through and turning the space into one spacious, open plan room with a modern family kitchen that will appeal to everyone. The kitchen is the heart of the home, so focus on making the most of this part of the house. Note that it doesn’t have to be a complete overhaul, but refreshing the cupboard doors, adding a stylish splashback and putting in new worktops will work wonders.
Focus on the minutiae
Last but not least is an area that is often overlooked by people when renovating their property to sell. There are any number of high cost fixtures and fittings that can be bought, but the cost of these will not be recouped when the house is sold.
On the other hand, deciding on one style throughout the home to give it uniformity does not have to be expensive. Choose the same style for the smaller items of light fixtures, taps and doorknobs, and this will make an impact on your buyer, as well as the real estate agent who comes to value the property. Best of luck!
