How to Increase the Resale Value of Your Home
With the ever-growing popularity of home renovation shows, many of us have become increasingly conscious of the value-add opportunities in our own homes or investment properties. From extensive property development projects, to small-scale renovations, to simple changes, there are a plethora of ways in which we can add value to our property.
A buoyant real estate market in Perth is sparking many homeowners to maximise the value of their properties before listing them for sale.
We’ve put together a few easy, cost-effective home improvement tasks you can undertake in order to enhance the appeal of your home and potentially increase its’ value.
Painting Is a Necessity
One of the easiest ways to increase your home’s resale value is to give it a fresh look with some paint. Homeowners can expect as much as a 300% return on investment for this simple home improvement task, when comparing the cost of painting to the value it will add to the property.
Although some colours add style and warmth, a potential buyer might not find the same colour schemes attractive. Because of this, it is vital to paint in neutral colours. While painting the whole exterior of the home can be an expensive project, painting window trims, exterior doors and some key indoor walls can often make a huge difference.
Install a Driveway Gate
A properly installed and well-designed driveway gate not only enhances curb appeal but also adds a level of security – a major plus in the eyes if potential homebuyers in Perth, especially those in their retirement years or those with young families.
A gate also provides privacy and security. People can leave their windows and doors open to let fresh air pass through especially during Perth’s warmer months.
A Modest Kitchen Remodel
The kitchen is the heart of the home, so potential buyers will be looking for a homely and stylish area to eat and entertain friends. Installing a mid-priced faucet and sink while replacing out-dated kitchen appliances with energy-efficient and new models are changes that can often quickly add to the resale value of a home.
Other kinds of kitchen projects may also include replacing the fronts of cabinets with new raised drawers and panel doors, or even just coating them with a fresh lick of paint. When doing this project, choose a functional and classic design and neutral colours. A new laminated countertop can also give a kitchen the final touch that it really deserves.
Installing High-Quality Fencing
With a myriad of materials and styles to choose from, fencing can go a long way in providing a wide range of benefits to a home’s exterior look. It can also serve as an attractive way to protect a pool area, divide a property, keep woodland creatures out and provide privacy that homebuyers in Perth crave. All of these benefits will add value to your real estate.
Space and Lighting
Small rooms and dark corners are often big turn offs for a potential home buyer. It is therefore a good idea to create a living atmosphere through adequate lighting and space. Small rooms can appear much larger if they have adequate natural light pouring in from windows or skylights.
Consider renewing window treatments with modern curtains and blinds – roman blinds provide a chic and soft atmosphere, while sheer curtains in the bedroom can give it that airy and bright feel.
A bigger project, but one that can provide a great return, is to knock some dividing walls to create a more open-plan space – possibly joining the kitchen and living room or the dining room and sitting room. Open plan rooms can give the illusion of a much larger area. Widening doors as little as 15 to 20 cm can often make a huge difference in increasing a home’s value if you find that knocking out walls is not worth the effort and the money.
Replacing doors and windows that waste energy can often be a wise investment. Go for thermally insulated, double-paned vinyl windows – they are both energy efficient and can work to keep out loud noises outside, such as the sound of traffic or neighbourhood kids and dogs.
Before Putting Your Property on the Market…
Before putting your property on the market, have a good declutter to ensure the space looks tidy both inside and outside. Decluttering can also help to make the space look larger.
Make sure the garden looks neat, with a freshly cut lawn and trimmed hedges, and use soft furnishings and lighting to create a more homely and luxurious feel.
Finally, while a structural and pest inspection are generally completed at the buyer’s expense prior to settlement, if you suspect you may have an issue, it’s a good idea to get the experts in prior to listing your property for sale. Any defects or risks flagged in a report may deter a buyer or trigger them to reduce their offer, so it’s best to get these issues sorted first.