Any homeowner considering selling this year should be working overtime to improve their home's value.
It's no secret that we're in one of the most significant housing slumps in recorded history, and you might not have a choice but to go all out on home improvements just to get your home's purchase price on auction day.
That said, you must be exceptionally strategic in your home improvements. Focus on spending money where real value potential is and work carefully to transform your home on a budget, and you might just see some major returns as far as sale's value goes.
Keep in mind that there's no room to overspend this year, as you may cut into your deposit savings for a new home, so take a look beforehand at how much of a deposit you might need for your next home and formulate a home improvement budget based on that.
Let's take a look at our simple home improvements that will improve value when it comes time to sell your home.
Work on an Affordable Interior Restyle
Up first is the improvement that you’ll need to make if your home’s style over five years old. Transform the space to look as fresh and modern as possible, even if you need to repaint, change kitchen cabinet pulls or replace entire doors to do it.
We suggest spending a week or two taking a look at the latest interior trends and determining where your home is lacking. Formulate a game plan that targets sections of rooms and other spaces that are letting your home’s age show and work to enhance them.
For some direction, begin with a paint job, the replacement of light covers, installing new tapware and more. It’s mainly just the little things that offer the most value for money.
Focus on Energy Efficiency
Today's buyers aren't only heavily focused on saving on their electricity bill, but also reducing their impact on the environment. It's your job to offer them a new home that helps them do both.
This tip is relatively simple. All you'll need to do is replace traditional window-mounted air conditioning units with more eco-friendly variants, swap out windows with too many cracks (like louvres) and work to have the home better insulated as a whole.
It might also be in your best interest to have a few solar panels installed, an energy efficient water heater and also LED bulbs.
A Revamped Kitchen
Although most kitchen renovations aren’t exactly ‘simple’ home improvements, they can be if you focus on just a few minor areas in the kitchen. You’ll want to start by improving the overall age of the kitchen by targeting the tapware as we mentioned above and don’t forget that new cabinetry doors should be considered too.
It might also be worth your while to spend a little extra cash on an oven, dishwasher and stovetop replacement to more environmentally-friendly options. This way you can tie your kitchen improvements into our second tip, and focus on energy efficiency.
Build Out a Lifespace Area
As Australians, we love our backyards and the outdoor spaces our homes offer, though if your home has a rather mediocre patio or backyard space, it might pay off big to expand upon it.
We suggest you begin by investing in footpaths, outdoing dining spaces, a garden shed as well as some well-lit areas. These are great at showing buyers the nighttime and hosting potential of the home.
Keep in mind that some of these additions must be done by a contractor, though the simple instalment of footpaths, lighting and other small features can be done on your own, which can save you a whole lot of money.
Maintenance and a Freshen Up
To end our list, we suggest a quick freshen up of your home. If your interior and exterior styles are already up to date and you have just about everything anyone could want in a new home, then take the time to have it cleaned professionally and styled.
Be sure to aim the bulk of your clean and maintenance work to any mould, rotten fence planks, creaky doors and more. In doing this, you’ll have the home looking flawless, and it may only cost you a few hundred dollars to do so.