While our home are undoubtedly our havens – the place where we entertain friends, spend time with our families and retreat from the world – we also want to be sure that any improvements we make to them not only enhance our lives and the space itself, but also add potential resale value.
One day, when you may come to sell your home, these improvements can really count, raising the asking price and improving saleability. For most of us, our homes are the single biggest investments we make and may also be our pension plans or our legacy to pass onto future generations.
But while certain projects are almost guaranteed to add value and will be a wise investment, others are ill thought-out and allow scant chance to recover the costs of the work once it comes time to sell up. Homeowners must be careful with the decisions they make in planning changes to their home if they want that initial investment to pay off further down the line. So how do you know if a project is a good idea or not? We take a look.
One of the most sought after modern configurations of housing is one where the majority of rooms have their own en-suite bathroom attached, and adding downstairs facilities, such a cloakroom with toilet is also a good idea. If you invest in these facilities, you are likely to gain back 80-130% of your outlay at sale, especially if you go for a stand out design feature such as a rolltop bath or a wetroom with steam facilities. Creating a modern, streamlined design in these high use rooms is very attractive to potential buyers and more bathrooms is something that can definitely boost the asking price. However, in most cases if you will significantly reduce the amount of bedroom space, it cancels out the gains, so consider carefully what space you have available and whether you can extend rather than taking away from the existing floor plan. Even updating existing bathroom suites for more modern designs can make a difference – and with modern suites available at great prices on sale then it’s a smart decision to upgrade them.
Create Kerb Appeal
While we may pay a lot of attention the interior of our homes, sometimes we can unintentionally neglect the exterior, as we pass through it each day without really seeing what’s in front of us. But giving the front of our houses a facelift is an improvement that certainly helps sell the home – when potential buyers see an exterior that looks unloved, they form a first impression of the place as being neglected and may assume that basic maintenance hasn’t been taken care of either. There are many things you can do to counter this – look at replacing your front door and any older windows, or at least giving a fresh coat of masonry paint to the outside. Source new garage doors online for the best prices at a site such as http://www.prestigegaragedoors.com.au/ to complete the look. You can also look at refreshing the planting scheme, using containers full of bright perennial blooms, box topiary or even climbing plants such as wisteria and honeysuckle to cleverly mask necessary eye sores like electricity meters or air conditioning units. Refinish pathways with new borders, gravel or slate chippings, or simply power wash down stone slabbing to make the space look rejuvenated. Adding lighting can also work wonders, so look into solar powered LED exterior lighting to highlight architectural features or light up a pathway to your front door. Find great solar lighting options at https://www.sunnybunny.com.au/.
Renovating a basement level can double the square footage of your house and provide a luxurious addition in living space that will propel your property value upwards. Homes with added extras always generate a lot of interest, so if you’ve always wanted a yoga room, fitness studio, wine cellar, utility room, home cinema or even a sauna, the space to create it could be right beneath your feet. A finished basement conversion adds more possibilities for living space that you can offer to potential buyers – from extra accomodation for guests to a music room for noisy teenagers. Adding usable space is one investment that always pays off, so although initial development costs can be higher than some other home improvements, a basement conversion is a sure bet in terms of what you can expect to gain back.
Upgrade Your Kitchen
While other spaces such as living rooms usually only require slight cosmetic adjustments, new buyers know that replacing a kitchen can get quite expensive, which is why a bright, modern kitchen is top of the list of must haves for a lot of them. So investing in updating your kitchen is a sure-fire win. If you can afford to extend it and offer a family room that leads onto the garden, that is a popular modern layout, especially for those with young families. There are small steps you can take if you can’t afford to replace the whole thing, such as repainting the cabinetry, upgrading the draw pulls and hinges and replacing or recovering worktops and appliances- there’s a great range of magnetic skins that can really upgrade the look of your kitchen at minimal cost from https://www.bestapplianceskins.com. If you are going to splash out on new appliances, make sure that you opt for energy efficient ones for the best sell to future owners, and it will save you money on your utility bills in the meantime!
Fix Little Snags
If there are little imperfections in the house that would be relatively inexpensive to repair, but that you’ve always turned a blind eye to, pre-sale is definitely the time to fix them! Paying attention to details may sound insignificant, but actually home maintenance is incredibly important when your home is about to be valued. Make sure you take care of any leaks, hint of damps, cracks in masonry or plasterwork, missing or broken roof tiles and other things like that. If you cut corners when it comes to renovation work you may pay the price later and find that your property is harder to sell. Similarly, smaller, more cosmetic defects may not seem worth fixing, but taken together they can prevent your house from achieving it’s maximum sale price -buyers will take them as signs of neglect and wonder what other problems could be lurking, or use them as an excuse to low-ball on the price. So have a careful check for problems such as peeling and flaking paint, jammed or damaged windows, rusted up vents, doors that don’t open and close smoothly, loose tiles or dripping taps. They will be noticed by eagle-eyed buyers.
Simple basics such as repainting walls and skirting boards, sanding down wooden floors, applying a new coat of sealant to baths and showers and weeding the paths can provide a much better impression of your home. None of these fixes required skilled work, so they’re usually jobs that you can set aside a few weekends to tackle yourself ahead of listing your house for sale.
Flip Your Layout
While extending by building out, or adding a loft of basement conversion always adds value they are expensive outlays, so consider how you could rearrange your existing space with less work to make it work better. If a space doesn’t flow well then it can be incredibly devaluing to a home. You’d also be smart to consider the target market in your local area, as a young family will have different needs to a professional couple or retirees. Consider if the layout you have could work better. Removing stud walls isn’t too complicated and can really transform your interiors. If you choose to lay the same flooring throughout, you can achieve a really luxurious open plan layout with lots of space. Or consider sourcing bi-fold doors from a specialist supplier such as www.atechaustralia.com.au/aluminium/bifold-doors to bring together the inside and outside spaces, with a continuous run of the same tiling from indoors to outside.
When it comes to planning areas like new bathrooms, layout the utilities to give maximum privacy and space. Showers or wet rooms can be built into alcoves and eaves in a loft conversion. You can also look at smaller sinks and custom built vanity units that sit in corners and make use of pockets of space.
If you don’t want to extend, then think about adding in more glazing to open up the house, flood it with more light and give the illusion of a larger area. This is a really useful design trick that makes a space look much more impactful, and adding more light makes the property much more attractive when it comes time to sell. For example, if you don’t want to go full open plan, then glazed doors or tiling can separate a space while still allowing extra light to pass through, meaning they’re a great compromise solution.
If you have any awkward areas you can’t redesign then utilise them with bespoke storage solutions that bust clutter while making use of otherwise dead areas.