The continuing boom in property prices is tempting many homeowners to put their property on the market and invest to maximise the value of their existing home.
There’s no doubt you stand a better chance of enjoying a great return on your investment by undertaking improvements, especially if you modernise your home with features currently sought after by buyers.
Buyers are seeking out properties that enjoy a mixture of the traditional and the contemporary, and nothing ticks all the boxes more than a brand new kitchen or bathroom, plus space to work from home and the ability to connect the outside to the inside.
But renovation projects of this scale can become extremely expensive. If your budget doesn’t allow for large-scale upgrades, there are plenty of plays to enhance the value of your home at little cost.
If you’re thinking of selling an apartment or house right now, below is a seven-point guide for a focused strategy to boost your price potential.
- Break out the brushes – It’s amazing how a fresh coat of paint will improve a property. Don’t focus only on the walls but attend to the skirting boards, ceilings and architraves. Select neutral colours as these make rooms feel bigger. Consider a primary colour only for the front door. A bright entrance is the height of fashion right now. Ironically, a jet-black front door in gloss is another popular favorite.
- Go green – Small-scale improvements to your gardens work wonders. Focus on the front yard as this creates the all-important first impression. Lay mulch on flower beds to reduce weeds, and keep your lawn tidy. Consider installing a watering system – they’re not expensive – to minimise maintenance for prospective buyers who don’t have a green thumb.
- That’s entertainment – If your property lacks an entertainment area, this is a great low-cost project to enhance your property’s desirability and, therefore, its value. A timber deck or concrete slab with some garden furniture, barbeque and pot plants can do the trick.
- Floor ’em –A home with consistent flooring is a winner and creates a great sense of flow. A mixture of different floor types are distractions and can make a home feel cluttered and ‘bitsy’.
- Say it with storage – Today’s buyers put a premium on quality storage solutions. A bedroom without built-in robes is a turn-off for many. So, think about storage options for bedrooms, bathrooms, the kitchen and laundry.
- Kitchen capers – Kitchens really do sell a home. If yours is a little tired, don’t worry – you don’t have to rip it out and spend big dollars on a new one. Consider replacing only the doors, drawers and handles. This will transform your kitchen at the lowest possible costs.
- Unbeatable bathroom – Like the kitchen, this can be an expensive remodeling project if done from scratch. If you’re on a budget, you can avoid replacing tiles by using a professional company to spray-paint them. This treatment can also be applied to sinks, baths and the floor basins of showers. New tapware and showerscreens will finish the refresh.