You may not be looking to sell your home today but retaining and improving its value just makes good money sense. And one of the best ways to do this is through smart, value-adding renovations.
7 Value-Adding Renovations For Your Home
When it comes to adding value to your home through renovations, it’s not always the largest, most time and money intensive changes that make the biggest difference. In fact, often small or even cosmetic changes can have a huge impact.
Prioritise the Home Office
In today’s world, the home office is more important than ever. In fact, nearly one in two Australians have been working from home over the past two years and most believe that will continue into the future. Having a dedicated office space is now a part of our modern lifestyle, and that means it’s a huge value-add for buyers.
Putting together your home office can be as simple as converting the spare room, as DIY-friendly as adding a modern shed in the back garden (a fantastic option) or as significant as adding a full addition to your home.
Do Up the Kitchen
Renovating your kitchen can be a surprisingly costly endeavour. But it doesn’t take much to give it a little lift that can have a lot of impact. Consider replacing the hardware on all the cabinetry, updating the cabinet doors themselves for a modern fresh look, or even installing a new tiled splashback. Cosmetic changes like this can really add a lot of impact, without large investments of money and time.
Splash On the Paint
One of the easiest and most effective ways to add value to your home is through a fresh coat of paint. Updating the look of the exterior of the home or the interior spaces, give it a fresh, modern look that just feels good to be in and can reduce the appearance of general wear and tear that can occur in a household over time.
Freshen Up Your Outdoor Space
Creating a garden oasis (or party spot!) doesn’t take much and can really add to the desirability of your home. Consider clearing an area for a fire pit, add some Adirondack chairs and string up some globe lights through the trees. If you have a little bit of cash to spend, consider installing an outdoor kitchen on the verandah or patio for a more sophisticated, upmarket vibe.
More Australians than ever are getting into the dirt and growing their own veggies. In fact, research shows that Australians are now growing more than 30% of their own food by income. When it comes to adding value to your home, it’s not just a quaint, homey ideal anymore – but something that savvy, future looking Aussies are seeing as a non-negotiable.
Popping in a raised garden is really cost effective, as well as a lot of fun too.
Focus On Flooring
Flooring can be a huge feature in your home, and if it’s looking tired or worn it can really let the entire look of the home down. If you already have timber floors consider updating them with a professional polish. And if you don’t have timber floors, you can also consider updating your look with laminate floating floors which both are easy care and budget friendly.
Beautify Your Bathroom
A modern, luxurious bathroom is still a major drawcard for potential buyers and can uplift the value of your home significantly. While a full renovation will certainly give you a good return on your investment, a few small changes can also make a vital difference. You might consider upgrading the vanity, replacing (or even painting) the tiles and even adding in luxury elements like a rain shower or a beautiful, edged mirror.
If you’d like advice on getting started with a new home loan, pop into your local BOQ branch and chat with one of our lending experts today. They’re always happy to help!