Smart tips for adding value to your home



article header

Whether you’re planning to sell now or simply want to keep your options open in the long-term, adding value to your home over time is a smart move for any homeowner.

Luckily, you can add value to your home without spending a huge amount of money on a full-scale renovation, with these smart – and budget-conscious – tips. And in the meantime, you can enjoy the benefits of any improvements.

Maintaining the basics

Making regular improvements to your home and maintaining it in good condition is the best way to add value over the long term. Fixing roof leaks instantly, replacing worn carpeting or broken windows, addressing any rising damp before it becomes as issue and other regular upkeep projects will ensure your home remains in tip-top condition.

Make minor cosmetic improvements

When it comes to selling your home, any real estate agent worth their commission will tell you that a fresh coat of paint can transform a home and improve its chances of commanding the best possible sale price. Georgia Cleary, a real estate agent with Bradfield & Prichard Double Bay in Sydney, recommends minor improvements as the most cost-effective ways to add value to your home. “Changing the knobs on the kitchen cabinets or moderinising the splashback can have a big impact without going to the expense of a full renovation,” she says.

Update the exterior

Never underestimate the power of curb appeal. This is the first impression your home will make on potential buyers and sets their expectations before they’ve even walked through the front door. Cleary recommends doing regular maintenance to the exterior of the house; and if you are selling, a fresh coat of paint and well-positioned plants can significantly increase your chances of securing a good sale price.

Add an outdoor “room”

Australians love outdoor living, so it’s no surprise that buyers often look for homes that offer attractive, usable outdoor spaces. Lou Rendina, managing director of Rendina Real Estate in Melbourne, advises building a weather-protected outdoor deck as a good way to add value to your home and attract buyers in the future. “If done properly, it’s like having another room that can be used year round,” he says.

Don’t ignore landscaping

Real estate agents agree that attractive landscaping can boost the sale price of a property and cut its time on the market. If you want to get maximum enjoyment for yourself, you can employ the services if a landscape designer or stick to a budget by planting perennial plants in oversized urns, applying a new layer of mulch, updating old pavers or even installing a water feature for the extra wow factor.

Improve insulation

A well-insulated home is a pleasure to live in and instantly attractive to potential buyers – and can save you money in the long term. “Upgrading heating and cooling systems, double glazing and insulation are ways of reducing your carbon footprint and utility bills now and well into the future,” Rendina says.

Advertisement

^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.

Compare your product with the big 4 banks, or add more products to compare
As seen on