Putting money in your home
Thursday, 26 June 2014
HomeStart’s John Oliver looks at some of the many features that add value to your home whether you are looking to buy or sell.
- ADD street appeal to your home by sprucing up the garden and clearing debris. Spending time and effort on basic gardening and landscaping will instantly add value to your home. It is the first impression for any potential buyer so it is important to get it right.
Go for a low maintenance and hardy garden, with an uncluttered look that will be easy to keep tidy. Fill any ‘bald’ spots with flowering plants and if it all seems too hard, call in a professional for the day.
- PUT time and thought into your kitchen space. The kitchen can be the most important room for prospective buyers so careful planning will pay off when it comes time to sell. Aim for a universally appealing look that has a practical layout and the smart use of appliances for convenience.
If you don't have the skills to do the work yourself, call in a professional. A poorly done job will actually detract from the value of the house. Don't be fooled by all the DIY renovation programs on TV – there are professionals fixing things in the background once the amateurs have finished!
- PRIORITISE the wet areas. Bathroom and laundry spaces are another big-ticket item when it comes to adding value to your home, so the more space you have, or the nicer they are, the better off you will be.
As with your kitchen, aim for a look that will be universally appealing and make the most of the space you have available. Also, if you plan to renovate the area, select materials and fittings that are easy to clean.
- GIVE your house a fresh splash of paint, both indoors and outdoors. If you are planning to sell, use a neutral colour scheme, particularly on your internal walls. White or off-white colours for internal walls tend to be the most popular as they are least subjective. Often dark colours can make the room look smaller so avoid that if that is not your intention.
- MAKE sure your home has plenty of storage space. Storage is an important feature for many potential homebuyers. Add built-in wardrobes to bedrooms and ensure you have ample kitchen, bathroom and laundry storage options.
- CREATE an outdoor entertaining space. Adding a pergola or deck that gives you an outdoor living space will add significant value to your home. Focus on making this lifestyle space a practical area where you can enjoy the climate, the garden and the company of friends.
- ADD an extra bedroom if you can. Buyers place significant value on the number of bedrooms in a home, so consider that in any renovation plans. An extra lounge or family room is also an added bonus.
- INSTALL energy efficient cooling and heating. Not only does this make life more comfortable in your home, but it also adds a lot of value for prospective buyers when the time comes to sell. Consider other environmentally friendly options like solar hot water and a rainwater tank.