UPDATING YOUR HOME
UPDATING YOUR HOME
Whether thinking of selling or staying put, it’s easy to add value to your property without breaking the bank. If you are renovating or just flipping houses then adding value is your key motivating factor, here are some simple and hopefully inexpensive ways to do just that to ensure your home increases in value.
1. Pay attention to the front entrance
Remember that all your guests notice the front entrance first so an update to the front or the entrance of your home can lead create a great impact for visitors and buyers alike and we all know how important first impressions are. Maybe take off that old looking cladding or replace it with new, a coat of paint always does wonders and can be inexpensive or maybe replacing that old looking front door for something striking and modern. Also look at the landscaping of your front lawn especially leading up to the entrance, could it be more colourful, do the hedges need a trim or the gardens overhauled.
2. Add a bedroom
You will be surprised at the price difference if you were able to add an extra bedroom. The price difference between the average two bed household and three bedroom is somewhere between $200,000 and $390,000. As you can see that is quite a price jump with the addition of just one extra bedroom then factor the cost of building the additional bedroom of $50,000 up to $85,000 and you can profit handsomely with and extra bedroom.
3. Landscaping
If you are lucky to live in a house not a unit, make sure you spend some time and effort into your gardens because a little landscaping can go a long way. What is quite often the case, people spend so much time and effort on the inside of the house yet neglect their gardens. Simple, elegant and affordable landscaping for both your front and back areas adds value to the home. At the front of the house it’s so easy to make a good first impression for visitors and an abundance of flowers and colour looks great. At the back of your house create a space you want to spend time in. Create the space both adults and children enjoy and if you are not a gardener keep it simple and easy to maintain but a little thought goes a long way.
4. Render
Still think it’s a good idea to keep the house in 1960’s bricks……try updating with a coat of cement or acrylic render. It is reasonably inexpensive and the return if you decide to sell can easily cover the cost 10 times over. Rendering can easily be applied to a cladded home as well, just remove the current cladding, apply a ‘blue-board’ base then an acrylic render is trowelled onto the boards. This is such a simple solution to overcome such a dated look and you won’t be sorry once done.
5. Paint
It really is surprising just how wonderful a new and fresh coat of paint both inside and outside the house can be, so many new colours to make the place look fresh and clean. The old colours of yesteryear have been updated and the choice is endless. Look at a few of the home renovation magazines and try some samples on your walls before deciding what look and feel you are going for. If you do not feel you have the time or energy to do it yourself the average cost is around $8000 for a professional paint job and this includes both inside and outside your home however the added value to the house is astronomical.
If you are not sure of the condition of your property and need to check before undergoing a transformation think about organising one of our professional building inspectors to conduct a building and pest inspection at your property.