Five ways to increase the value of your home

Five ways to increase the value of your home

Posted 1 June 2016.

While there are many quick fixes to add a small total to the price of a house on the market, if you truly want to increase the value of your home (and the enjoyment you have living in it) there are a few tried and tested methods to make it worth more.

Insulate the roof

Many southern areas of Australia get a bit chilly in the winter, which leads to increased heating bills. However, by improving your insulation you can save on those bills, make your home more environmentally-friendly and increase the appeal to buyers. Equally home owners in the northern areas of Australia benefit from roof insulation to lower the temperatures and save on cooling bills.

Bathroom/kitchen upgrades

Bathrooms and kitchens are two of the most important rooms in a house for buyers, and how modern and well-designed yours are can have a big affect on the sale price. Whether you update everything – from bathtub to oven and beyond – or simply give the cabinets and taps a facelift is up to you, but a modern look in these areas can go a long way to improving the appeal of the whole house.

First impressions

First impressions count for a lot, and if your home lacks curb appeal or the front door leads into a dark and depressing hallway, you immediately put potential buyers on alert. This is where you small touches are most important – a neat lawn, new paint and a look that says you care all give off a positive image. If you can also extend to replacing doors and  increasing the size of windows then you can further improve first impressions.

Add decking

After bathrooms and kitchens, space for entertaining comes high up a buyer's list. One of the easiest ways to increase room for this sort of activity is with decking, as it turns often unused space into an outdoor dining area, and makes the home feel a lot bigger.

Tidy the garden

With a smart front yard and a nice new deck in place, having an unkempt garden takes away from the visual appeal greatly. It's important to keep the lawn mown, make sure that sheds and fences are in good condition and that paving slabs are free from cracks and weeds. Visitors may only spend a little time outside, but knowing that everything's in good condition can help reinforce the feeling that the house has been well looked after.

It's often the case that to make money you need to start with some, and that's especially true with property. Taking out a home improvement loan can help get the required capital to make some improvements which, if done well, can help increase the value of a home and more than pay back the initial investment.

Before going ahead with any renovations, it's always wise to speak to an expert as their knowledge and fresh perspective may be able to guide you to the most important aspects that need to be upgraded.

General Advice Disclaimer

The information contained on this website is general in nature and does not take into account your personal situation. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from a financial adviser.