WHETHER you have a small or large budget, or something in between, there are plenty of things you can do to add value to your home.
Before you take any action you’ll need to consider not only how much money you have to spend, but also the type of property you have and what buyers in the area are looking for.
Ray White Bulimba Sales and Marketing Professional Jacob Butler suggests taking a moment to assess if what you plan to do will actually add value when it comes time to sell or just add value to the way in which you live in the home.
“A trap people often fall into is spending money on items that might not appeal to a wider market,” he says.
Whatever measures you employ, the trick is to make sure you don’t overcapitalise; everything you do should give you a return greater than your outlay.
Here are our top tips for adding value to your property, ranging from simple to more complex and cheap to more expensive, in no particular order:
A lick of paint is one of the easiest ways to add value, according to Ray White Bulimba Principal Roger Carr.
It can transform a home, making a tired interior look fresh, especially if you use white or neutral colours, which will appeal to a wide range of buyers.
Sprucing up the walls and ceiling with paint will have a far greater visual impact than simply washing them, although this is important too.
If you’re handy with a paintbrush and can do it yourself that’s even better, as it’ll save you a thousands, giving you a greater return.
While it’s important to focus on the inside of your home, don’t neglect the outside, where first impressions are formed.
While you’ve got the paintbrush out, consider painting your property’s exterior. It’s also a good idea to oil any timber decks, says Roger.
When the stain has worn off decks it can look really unattractive to buyers and make the property appear poorly maintained, but staining it again can make it look a million dollars – maybe not literally, but figuratively.
Another simple way to add value to your home is to ensure you have a well-maintained garden with lush green grass, says Roger.
If your grass is patchy and dead, invest in some new grass, and some new plants if necessary. It won’t require a big outlay, as you can do it yourself.
If you’re keen to put in a little more effort, Roger says updating the kitchen and bathrooms is the best way to cosmetically enhance a home and make it more current in the marketplace.
Of all the rooms in a home, buyers will pay particular attention to these, so it’s a good idea for a seller to do the same.
You can just make a few more affordable, cosmetic changes to update them, such as installing new handles, or you can go the whole hog and pull everything out and start all over again. For budgets in between you can replace the tapware or even the sinks.
If you have the budget, there are some big-ticket items that will add significant value to your property.
“Adding bedrooms, bathrooms, living areas and decks adds dollars,” says Roger.
“This will require a builder and a bigger outlay of cash but if it’s done right it can provide an impressive return.”
Many families buy in Bulimba and surrounds, so they’ll value an extra bedroom or bathroom, with the former often generating the biggest returns.
With our lifestyle blending indoor and outdoor living, decks are also an essential selling feature for a home.
Layout is an important aspect too, but altering the floor plan can be a big and expensive job.
Improving flooring is another way to maximise the value of your home, according to Ray White Bulimba Elite Sales and Marketing Professional Steven Gow.
Buyers can be turned off instantly by outdated floors, which they’ll see as soon as they walk in, so think about an upgrade if it’s needed, while also considering your budget.
“It’s a good idea to lay down new carpet or vinyl flooring, or consider resanding timber floors,” Steven says.
Parking is always at a premium, especially in the inner city, so if you can add an extra car space you’ll add value to your property, especially if it currently only has one.
Most households have two cars so off-street parking that accommodates both will be highly sought after.
Jacob notes that some people put a large shed on their property for a caravan, but while this might suit the owner’s needs at the time it may not suit all buyers, and hence won’t add value.
“The capital outlay might not provide a dollar for dollar return at the end of the day, as not everyone will require a large shed, whereas a carport could add value as it appeals to a wider audience,” he adds.
Whether they’re buying units or houses, people want – and need – space to store their belongings.
If you can create an extra cupboard inside or erect a shed outside it can help to increase the value of your home. An alternative is to make use of clever modern storage solutions, which can also be an eye-catching feature for buyers.
For specialised advice on how to add value to a home in Bulimba and surrounds contact our experienced team on (07) 3914 0000 or firstname.lastname@example.org.