IT DOESN’T cost much to add thousands to the value of your property. There are a few key things you need to invest in, and some you should definitely avoid.
IT’S what any savvy homeowner wants to know.
How do you add thousands of dollars to your home? Is it a pool? Another bedroom? A car space? A granny flat?
The experts have revealed what will make you the big bucks.
DITCH THE POOL, BUT DIVE INTO ‘EXTRAS'
The first rule is to invest in renovations that add value to your home, not neutralise it or leave you swimming in debt … like a pool can.
Swimming pools are quite hit and miss — as lovely as they are in summer, they come with so much maintenance and without a heater, aren’t used during 6 months of the year, even on the Gold Coast. Swimming pools are great to have and use, but costly to install and unless they are for your own use, not not worth putting in for adding value.
A garage for two cars is always a wanted addition, as is an ensuite and walk in robe.
Butler’s kitchens and pantries have also become hugely appealing and desirable for buyers. If you have the space, a butler’s pantry with sink, second dishwasher and fridge is really useful and appeals to interstate buyers who want lifestyle and to entertain.
In relation to renovations that can add to the appeal and value of a home, I always recommend updates to the kitchen, bathroom and façade of the property.
Kitchens are the most popular room to renovate, taking up 26% of all renovations. They also add the most value to a home, followed closely by a modern bathroom renovation.
Forget location, location, location – It’s presentation that counts.
The cheapest and most effective way to add value and modernise a property is a fresh coat of paint and new floor coverings. It really can make so much difference. Adding some new tapware, bench tops, cushions and lamps will make an impact that can change your whole house without breaking the bank.
Granny flats, not just for old-timers
With affordable housing out of reach for many, Granny flats and Millennial suites can become huge assets and add real value or income for the astute property owner to ease their mortgage by renting out this external extension.
When renovating for sale, styling is worth its weight in gold – presentation during the sale process can net you 10% more compared to un-styled.
Quality and an eye for detail is key in renovating and adding value. Doing your own renovation in most cases does not add the same value as when the work has been done by professionals. While we might all think we’re experts, thanks to the many TV shows, it’s really important to know your limits. In fact, you may end up doing more harm than good.
Does air condition add value to a Gold Coast home?
Yes and no. If its simple split system units yes. However, if you plan on adding a full ducted system you won’t make your money back, even in our Queensland climate.
What else should be on the don’t bother list?
If you are just looking to increase the value of your home, don’t spend money on
- Dedicated library
- Wine cellars
- Cinema rooms
Want to learn more about renovation projects that can improve not just your home, but also increase it's value? Call Andre today on 1300 772 123
We design, build and project manage and deliver you a beautiful, stress-free, worry-free and regret-free luxury renovation that’s perfect for your family’s needs and budget.