When it’s time to sell your house, you always want to get maximum value. You want to get an offer that’s as close to your asking price as possible. Home renovations offer a way for savvy property owners to add value. Remodelling projects may seem expensive at first, but even a small outlay can generate a lot of added value.
Let’s explore how renovations can increase the value of your home.
Use Home Renovations To Increase Street Appeal
When trying to sell a home, first impressions are crucial. And that starts with the street appeal of a property. When potential buyers arrive, the first thing they see will be the front of the property, which makes maximising the curb appeal a top priority.
Even something as simple as a fresh coat of paint on the front door can make a property look enticing from the street. If there’s an outdoor area at the front of the house, make sure that the pathways look clean and inviting. If fences or paving stones are damaged, spend some time and money on repairing them.
If a home’s exterior looks tired and worn, it can be off-putting for prospective buyers. Increasing the street appeal of your home can put people in a positive mood as they walk up to your front door, making them more likely to make an offer.
A Successful Renovation Can Attract Potential Buyers
One of the most cost-effective ways to add value to your home is to undertake large-scale renovations. Although the initial cost of these remodelling projects feels expensive, they can drastically increase the overall value of your property.
The two top renovations to consider are bathroom or kitchen renovation projects. When renovating any area of a home, it’s best to concentrate on rooms that instantly capture the attention of buyers.
A kitchen renovation is a worthy investment when trying to add value to your home. One of the main concerns for most buyers is having a beautiful, practical kitchen. After all, most homeowners would say that the kitchen is the heart of their home. Installing new appliances is a quick way to modernise your kitchen instantly. Adding a coat of fresh paint can quickly transform a bland kitchen – make sure to choose a contemporary colour scheme to stay on-trend.
A bathroom renovation is another project that can significantly impact home value. Many properties now boast two bathrooms, so it’s worth considering whether you have the space to add an extra one. A relaxing bathroom with a neutral palette can do wonders for property value.
It’s worth bringing in a professional interior designer when considering larger home renovation projects like a kitchen or bathroom. This is also a good idea if you need to alter the layout of an existing space or living area to incorporate a renovation.
Even Small Renovations Can Quickly Add Up
Successful home renovations don’t have to cost thousands of dollars. Sometimes even small changes can boost a property’s value. One of the cheapest ways of renovating any room is to paint the room again. The cost of a couple of tins of paint is pretty small compared to what you might gain. Try to use colours that are on-trend wherever possible, but stick to neutral tones in a bedroom or bathroom renovation.
Increasing your property’s energy efficiency is another cost-effective way to increase the value of your home. Installing doors or windows that feature double glazing is a good choice. Like every industry, houses and other real estate need to become more sustainable in the current environmental climate. Performing a home renovation makes your home more sustainable and attractive for prospective buyers.
Renovate The Outdoor Space
There’s no better place to enjoy the Australian sunshine than in the garden, which means outdoor areas are a big priority for many buyers. Therefore, it’s wise to spend a good portion of your budget renovating your outdoor space.
Refreshing an outdoor area can be a demanding project, but the potential returns make it worth the money. Tidying up overgrown garden plants doesn’t have to cost the Earth, but it’s best to pay a professional arborist if you need to chop or trim some trees.
Swimming pools are a popular feature of outdoor areas, so it might be worth some thought if you have the space. With the help of a garden designer, you can also rearrange or refresh the landscaping to make the most of however much room you have.
If your property is lucky enough to have stunning views, alter the outdoor area to take advantage. Create a relaxing seating area that puts the view front and centre to emphasise it to interested buyers. Having a beautiful garden can make a huge difference when trying to sell your home.
How Much Do Renovations Boost Property Value?
If you’ve decided to sell your house, home renovations offer a way to increase the perceived value of your property in the minds of potential buyers. But not all renovations are equal because some can add more value than others.
Real estate experts suggest focusing on renovating rooms like kitchens or bathrooms to generate a more significant increase in home value. These top renovations provide substantial increases in value even though they can be expensive to undertake. Boosting the curb appeal is another recommended project because it helps create an excellent initial impression for potential buyers.
When renovating different parts of your home, it’s always a good idea to have a budget. If you spend too much on renovation projects, you’ll experience diminishing returns. You don’t want to spend more money than you need to. You also want to ensure that any money spent focuses on high-impact areas like bathrooms or kitchens. This will help you sell your property for the best possible profit.
Thankfully, the team at Veejay’s Renovations are experts when it comes to home renovations. Call our team today to get an obligation-free home renovation quote!