There are many ways you can add value to your home or investment property before listing it for sale. The key ingredient is to invest money in the right places to get the biggest bang for your buck!.  A common trap is to spend money improving your property but find out later that it hasn’t increased the value of your home. The key areas of your home that add to its value are usually the kitchen and bathrooms. Refreshing your home’s outdoor space and curb appeal is also beneficial. Remember to make a great first impression when potential buyers first see your home!

You don’t necessarily need to spend thousands of dollars on large renovation projects to increase a property’s value. Investing in extras like new light fittings, new bathroom fixtures, or a refresh coat of paint can often give your home a new lease on life.  Likewise, mulching garden beds, defining garden edges, pruning trees and mowing lawns will give instant impact for minimal spend.

The Best Ways To Add Value To Your Property

Before investing time and money into your home that may not bring the expected reward you should first get the advice of your Real Estate Agent. This advice is generally complimentary and will assist in you getting the best possible price.

Here are our top six ways to instantly add value to your home:

1. Add a fresh coat of paint.
2. Replace old flooring with new, floor coverings.
3. Invest time or money into garden maintenance and landscaping.
4. Revitalise outdoor areas, like patios, decks, and driveways.
5. Convert closed-off kitchens to open-plan living.
6. Stage your home for open for inspection.

Fresh Coat Of Paint

Old, faded and cracked paint can make houses look dull and lifeless. Simply adding a fresh coat to your home can easily brighten up a space and make it look fresh again. This is one of the cheapest and easiest ways that you can instantly increase the value of your property. Just take care when choosing your paint colours, sometimes neutral colours that are current are best, so you don’t overwhelm potential buyers who have more conservative tastes. You wish to appeal to a wider market, first home buyers, families and retirees.

Flooring Coverings

Floors are another feature that can have an instant effect on how potential buyers view your home when they first walk in. Whether the floors are outdated, old, or damaged, updating your flooring is sure to be an instant value-add for potential buyers.

Before replacing old, tired-looking timber floors, try these top tips to help breathe new life into existing quality floors:

• Cleaning: start with an empty room, give it a thorough vacuum, and then use a warm mop to remove any built-up dirt and grime from the floors.
• Finish: If a simple clean is not enough, it might be time to add a new finish to your timber flooring. Whether it’s a lacquer or wax finish, replenishing it is a quick and more cost-effective option for sprucing up your floors.
• Buff and Polish: This is another great option if you wish to avoid the expense of a full sand and refinish. You can simply hire a buffer and purchase your choice of polish to bring out the original beauty of your timber flooring again.
• Sand and Refinish: This is the more expensive option. Sanding and refinishing aged timber floors provide a professional finish that is sure to impress potential buyers.

Replacing carpet, tiles, or laminate flooring is a low-cost way to refresh a home without opting for a full renovation. You could replace floor coverings with updated or you could take the opportunity to install a completely different flooring that is in line with what potential buyers are looking for.

Updating Your Garden and Outdoor Spaces

No doubt about it, Australians love their outdoor spaces, so investing in your garden and outdoor spaces can significantly add value to your home. However, unlike other value-add projects, a garden spruce-up usually encompasses many projects. Here are some great ways to improve your garden landscape:

• Do a clean-up: overgrown gardens will instantly benefit from a garden clean-up. Cutting back hedges and trees, removing fallen palm leaves, and pulling out weeds or unwanted plants will instantly increase the appeal of your outdoor space.
• Add new vegetation: Bare areas will likely benefit from the addition of plants or flowers that add a bit of colour to a baren space. Just be sure to choose those plants that are easy to care for.
• Do a complete overhaul: If the current garden isn’t doing anything special for the space, consider replacing existing plants, hedges and trees with updated versions. This allows you to plan from scratch and add a touch of your own creativity.
• Add zones: Using garden beds to separate areas of the garden is a great way to add interest to an outdoor space. A well-planned, segmented garden can add instant street appeal to your property.
• Add features: Features like solar lighting, ponds and fountains can add interest to an otherwise boring garden. Just be sure to check the maintenance and running costs of some features to make sure they are worth the investment.

Renovate Your Kitchen

The kitchen/dining area is usually the heart of a home. It’s usually the most used space in a home, so any improvement to your kitchen, whether big or small, will add value to your home. So, depending on what you can achieve, here are some ideas:

• Open-plan kitchens: Converting a closed-off kitchen to a larger, open-plan one that flows through to the dining or living areas can dramatically change the feel of the whole home.
• New appliances: If a kitchen renovation is out of the question, simply updating the appliances can be a big improvement. Old, tired, outdated appliances can make a kitchen look old, even when placed in a modern kitchen. Replacing them with new stainless-steel ones for instance will help the kitchen look sleek and modern.
• Lighting: Increasing natural light with more windows or updating old light fittings can make the space more inviting and is an easy way to instantly brighten up your kitchen and make it feel much larger.

Set The Stage

Finally, knowing how to dress your home for selling can make all the difference and need not cost a fortune. Furniture placement should open the room and make it look as large as possible. Finally, invest in accessories that make your home look fresh, stylish, and modern. These don’t have to be expensive; you can often find cheaper versions of expensive, fashionable items. Throws and cushions are great low-cost options that can change the way a room looks and feels and gives a room a cosier feel. Also, some rugs on a timber floor can soften a space and make it feel more homely.

What Are the Pros and Cons to Renovating Before Selling?

It’s no surprise that every seller wants to get the best price possible. To do this, you must stand out from the competition!  Buyers are likely looking at multiple properties before making a decision to purchase and you want yours to be the home they choose!

A home can benefit from even the smallest freshen up. So, determining your budget and time frame will allow you to evaluate how much you can achieve. At the very least, thorough cleaning and a few extras will help your home stand out in photographs and at the open house.

Need More Advice?

With so many possibilities, it can be hard to know where to start when it comes to renovating your home. At DCK Real Estate, we can help walk you through the steps on how to present and then market your home to achieve the best possible result. Call us today on 03 5440 5000 or email info@dck.com.au