11 Feb 2020
Irresistible renovations that increase your home’s value
Finally got your new home. Fantastic. It’s probably been a long and rewarding journey. Now, you can relax and enjoy the independence and ownership of living in your own home.
But, if you feel like there’s more you want to do or improve, then here are a few things that will help to increase your home’s value. This is great as an investment, whether you plan to use your home as your retirement nest egg, or sell sooner and upgrade to your new dream home.
Remodel your kitchen
A remodelled kitchen generally pays for itself once you sell the house. The key is to know when you’re at the sweet spot for the best amount of investment for the most amount of return. It’s easy to go overboard and get all the bells and whistles, but there is a point of diminishing returns if you’re renovating with the aim to boost your home’s value.
Remodel your bathroom
If you only have one bathroom, then you have a golden opportunity to boost your home’s value by simply adding an extra one.
Add new paint
Sprucing up the paint inside and outside the home is one of the easiest and most cost-effective ways to increase its value. Investing a few hundred bucks on paint can boost your home’s value by up to $20,000.
Invest in energy-efficient appliances
Installing energy-efficient appliances can make your house more attractive to potential buyers. Installing solar panels and appliances with a green energy star rating creates a great incentive for buyers to pick your home. Knowing that they are going to save money is a big drawcard.
Adding a deck
Having a deck is always better than not having one. You can expect to get back between 60% to 90% return on investment when you install a deck.
Install blinds
Blinds are a great addition to a home. It’s easy on the budget and increases your home’s attractiveness. Roller blinds and aluminium Venetians are the most cost-effective, with genuine timber Venetians costing the most.
Adding a granny flat
Granny flats are very attractive to investors and homebuyers because they can be turned into an asset or a family space. They can be quite costly to set up, but there will be a significant increase in the value of your house when you decide to sell. Also, while you’re still living in the home, you can rent out the granny flat for additional income.
Install new tiles
Installing new tiles can lift the entire presence of your home. New tiles can bring in that pristine and premium feel. Remember, floors get a lot of wear and tear, especially the bathroom tiles that get wet and are prone to mould and grime build-up. Professional cleaning definitely helps to revitalise dirty tiles, though, sometimes after a period of years, tiles can get so worn that they need to be replaced. New tiles increase the value and perceived value of your home – so think of it as an investment that will pay for itself off when you decide to sell your home.
Give your backyard some style
Most of us work in offices, drive home in congested traffic and come home to a busy household. So, it’s nice to have a serene touch of nature close by, i.e. your garden. People have a diverse range of taste when it comes to gardens, so don’t feel like you have to accommodate every pallette. Pick the garden you enjoy and which suits your home, and make it the best you can for the price you can afford. Whether you like a garden to be simple and low maintenance, or elaborate and beautiful; it’s completely fine as long as it doesn’t look neglected and chaotic.
Integrate technology into the home
Integrating technology into your home is quite easy and cost-effective. Adding smart devices like: Lighting, thermostats, home theatre systems, Google Home and Amazon Alexa devices – going all the way to integrating a home automation system, with everything able to be controlled from your phone. This adds the premium, pristine and luxurious comfort feel to the home.
Mortgage House
At Mortgage House, we’re no strangers to the homeowner’s journey. It’s a long (but rewarding) one.
But don’t worry, we can help with that.
If you’re thinking of buying a home, you can contact us for advice about the best options for you when it comes to your mortgage. The cost of your mortgage can drastically affect your financial planning, so it pays to speak to the experts about it.