There are many ways to add value to your home without spending a lot of money. It is important to focus your home improvements efforts in areas that have the greatest potential to return on your investment.
Most property experts list the kitchen and bathroom as among the vital renovation areas that can easily increase your home’s value. The property’s façade – which is the first thing potential buyers see when they check out your home – is another location that can stir buyer interest.
To ensure that your property is not overcapitalised, it is recommended to consult your realty agent before renovating. Your property’s value could rise beyond what buyers are willing and able to pay to live there.
Before investing time and money into a project, experts recommend starting small – especially if you are uncertain if the renovation will reap the expected reward. These are eight easy home improvements you can make to increase the value of your property when it comes time to sell.
1. Give your paint a new coat
The quickest and most cost-effective way to make your home look new is by painting. Potential buyers will appreciate the freshening up of rooms.
You can complete this project if you are able to manage your time and have confidence in your painting abilities. You will typically spend a few hundred dollars on paint materials. According to Hipages.com.au, an interior painting job will cost you between $20 and $30 per square metre if you hire a professional.
2. Make window coverings more modern
Window treatments are often excellent insulators that prevent warm or cool air inside the house from seeping outdoors – but you can also use these window coverings to elevate your home’s style. There are many options available, including blinds and shades, drapes, shades, shutters, and curtains.
Blinds start from $30 and can cost more than $180. While curtains are $75-$240 depending on their complexity and type, Hipages states. Designer curtains measuring 1,000×1,800mm may cost as much as $580.
3. The flooring is your priority
Another feature that can influence your home’s perceived value is the flooring. You can easily make your floors look new again if they are damaged or outdated.
You can clean the floor yourself to get rid of all dirt and grime. If this is not enough, another fast and cost-effective option is replenishing the floor’s finish. Wax or lacquer can be used for timber flooring. You can hire a professional to polish and buff the floor, or go for the more costly sanding/refinishing. These methods are more expensive but can provide a professional finish that may be more attractive to potential buyers.
Hipages states that the cost of flooring depends on the area and the material. If the flooring must be installed by professionals, it will also affect the price. The average cost of materials is $30 per square metre. This is about the same price as the installation.
You can also replace worn out carpets. You can find bargains by purchasing replacements on an online auction site, or calling local retailers to inquire if there is any inventory left over or discounts available.
4. Renovate the entrance
A positive first impression is key to selling a property. Potential buyers will be attracted to a home that exudes warmth and freshness, especially if they are looking for a place to call home.
Jo Carmichael, professional organiser and founder of property styling company All Sorted Out, stressed the importance of having a front entrance that is “immaculate” as a “buyer’s emotional connection begins from the streetscape.” She also offered simple and cost-effective ways to enhance your home’s façade, including pressure-washing the front decks, putting a new doormat, adding some greenery, and replacing the old letterbox.
5. Give your garden a makeover
The landscaping and gardening skills of a property speak volumes about its condition. These are the first things buyers see when they visit your house. They also give a good indication of the property’s overall condition. You can add instant value to your home by improving the appearance of your garden.
These tasks can cost thousands of dollars to hire a professional. You can cut down on the cost of gardening by using these methods. These include trimming overgrown trees and removing unwanted plants. If your budget allows, features like fountains, solar lighting, and ponds will make your garden stand apart.
6. Outdoor areas are worth investing in
“The Australian climate is so inviting for spending time outside,” says Blake Anderson, director at Melbourne-based landscaping firm Nomark. “As a result, people are now investing in the backyard as if it’s one of the most important rooms in the home due to size, scalability, and lifestyle benefits.”
Anderson suggests that you consider the following things when deciding what outdoor improvements will increase the value of your home: family activities, home features that are compatible with these activities as well as the space and type of vegetation in the area.
7. Remodeling kitchen and bathrooms
Experts say that the best home renovations are those in the kitchen and bathrooms. These rooms are highly-used and frequented.
“The kitchen is one of the most important communal areas of any home,” Bryce Yardney, project director at Metropole Strategist Professionals, tells Propertyupdate.com.au. “Buyers want a functional workspace that includes modern appliances, attractive taps, and good cupboards and bench-tops.”
Experts warn against homeowners over-extending their kitchen renovations. Some of the less expensive ways to enhance your kitchen’s style include replacing cabinet handles and hardware, updating the splashback, and installing new taps.
Yardney adds that a “functional and aesthetically appealing bathroom” can also raise your home’s value. But rather than a complete renovation, small updates like painting walls, replacing tile grout, and reglazing bathtubs and sinks “can work wonders.”
8. Your home should be staged
Home staging is often viewed as a costly endeavor. While hiring a professional stylist can set you back several hundreds to even thousands of dollars – depending on the level of service you choose and how long your property is stage for – there are many ways you can make your home attractive to buyers without having to spend much.
“Staging and decluttering make it easy for buyers to imagine how this property can become their property,” Carmichael says. “Buyers are inspecting multiple properties in a short space of time. Your property is in competition with every other property for sale, so make yours the one that wins their attention.” She adds that among the effective ways of staging your home are eliminating clutter, creating flow, and representing rooms for their intended functions.
