Find out the best tips and tricks to boosting the resale value of your home.
Whether you’re looking to sell now or in the future, it pays — literally — to keep your home up to date. While layout and location are key factors in determining your home’s resale value, they’re not the only thing that will boost your asking price.
Consider one or more of these tweaks and renovations to add real value to your property …
Refreshing your home with the idea of adding resale value doesn’t always have to mean major changes. In fact, it can be as simple as a fresh coat of paint and a few updates here and there. When taking on minor interior projects in the name of resale value, remember to stay neutral. Neutral tones throughout are not only timeless and versatile, but they can also make your spaces look larger and more inviting.
Storage space is one of the most common requests for potential buyers when looking to buy or build a home. If your home is lacking in this department, not to worry. It’s a pretty easy hurdle to overcome. Those with bigger budgets should consider adding built in options such as extra cupboards or extended closet spaces. But if you’re looking for a quick and easy solution, you can’t go wrong with some well-placed open shelving.
Add an outdoor area
Potential buyers are easily drawn in by a quality outdoor space. It helps them visualise living and entertaining in the home. Creating an outdoor oasis is easier than you might think. Even better, there are options to suit all budget sizes. Just remember to create a space that offers some flexibility with plenty of covered space to escape the weather.
Update fixtures and finishes
Homes that look modern and fresh will always fetch a higher price. If your fixtures and finishes are a little out of date, consider some more contemporary options. Think wood or laminate floors, stone benches, new carpets, light fixtures and fresh paint.
Refresh your kitchen and bathrooms
The bathroom and the kitchen are the two areas of your home that potential buyers will scrutinise the most. A cool, contemporary kitchen will inspire buyers as will a modern bathroom. It pays to splash out a bit of cash here to get things just right. Remember to integrate storage solutions. Keep the overall look fresh and neutral. And invest in durable materials.
Consider going open plan
Most current buyers prefer open floor plans, which is why it’s well worth converting any defined living/dining/entertaining spaces into one sweeping area that flows together without restriction. It will modernise your home while adding a feeling of more space, light and airflow. Of course, this is a considerable change, but if you have the budget, you could end up gaining more than what you put in.
Up the curb appeal
You never get a second chance to make a first impression … neither does your home. You want buyers to fall in love at first sight, which is why you should invest in elements that will boost your home’s curb appeal. Not only will it create a more lasting first impression, but it will also put buyers in a positive frame of mind before they even set foot inside. Luckily, upping your curb appeal game is pretty easy.
Add a bedroom
Did you know that potential buyers will always consider a home with more bedrooms than they need, but will rarely consider homes with fewer bedrooms than required? If you have space and the budget, adding another bedroom is a great way to add usable space to your home. Bigger homes are almost always worth more in value, and buyers thinking about starting or expanding their family will definitely appreciate the added space.
Add a garage
A home with a garage is a big draw for many buyers. It offers secure parking and adds extra storage space! If you’re thinking about adding a garage, add one big enough for two cars. This is the most desired size.
Consider a granny flat
Granny flats are becoming more and more popular as families move in together and split the costs of living. If you have the space to add a granny flat, it can be a great investment. It will add value to your home, and offer additional space for extended family or older children. It can also be a great way to bring in extra income by renting it out. This can be a big help when it comes to paying off the mortgage.
Improve your garden
Remember when we were talking about curb appeal? Well, this one goes hand in hand. Tidy up the garden to improve the overall look of your home. Pull-on your gloves and clean everything out. This includes trimming trees, power washing pathways, and clearing out the rubbish. If you feel like spending a bit of money, there are plenty of great ways to create a low maintenance oasis that any buyer will appreciate.
Think about your market
Perhaps the most important thing you can do when adding resale value to your home is to think about your market. You want to appeal to the highest number of people possible to create demand for your property. Before you spend any money, you should speak to a local real estate agent to find out what people are looking for in the area. This will give you a better idea of where to focus your efforts (and your cash).