5 Key Renovation Tips That Increase Home Value

Are you looking to sell your home privately this Summer?

Home RenovationWell, Spring is a great time to start! Getting a house ready to sell can be a stressful task, so planning your budget for any upcoming home improvements well in advance can save you a lot of time, money and anxiety. The basic rule, is to spend money on the key areas which will give you the biggest bang for your buck.

Making improvements to the following 5 key areas will add the most value:

  • Paint: Painting internal walls, external walls, ceilings and the front fence of property can go a long way. It is amazing how two coats of paint can make a room feel fresher, cleaner and modern. If your property has wallpaper, don’t be tempted to paint over it, take the time to peel the paper off the walls using a wallpaper steamer, followed by a skim coat to smooth the walls before applying two coats of good quality paint. Paint the ceilings white and the walls a light off-whit often called “quarter tea”. The front fence can go charcoal black or a natural stained wood color to give the house a solid look.
  • Adding a bedroom: It’s often possible to convert a separate dining area or large lounge into an additional bedroom. Keep it simple by making sure only non-load bearing walls are removed and only use the services of a competent and licensed building practitioner to do the job.
  • Kitchen: The kitchen is often the heart of the home, especially if it is open plan, and leads onto the lounge or an entertainment area. Having a functional and modern kitchen will definitely add value to your property, but it is a good idea to watch out for overspending. For the typical Kiwi home, a new kitchen and cabinetry can cost anything from $3000-$30,000. Unless your existing kitchen is an absolute wreck, you probably don’t need to go with the higher price tag option. Often, just replacing the door or door handles and benchtop is enough to create a modern feel.
  • Bathroom: Adding an ensuite is always a winner, but could be a costly and lengthy process due to the building work involved and the local authority consentingprocess. Replacing old or broken tiles with new tiles or vinyl on the bathroom floor will give a clean feel, adding a modern vanity, toilet and bath is also a definite winner. Placing a large mirror on the wall, new towel rail fittings, and an extractor fan will also add appeal. Bear in mind if your target market is families with young children, they prefer bathrooms with a shower cubical as well as a bath.
  • Landscaping: Creating a good indoor-outdoor-flow off the lounge or kitchen is a great way to add a spacious feel to a property. A nice deck or paved area for BBQ’s and soaking up the sun in Summer wouldn’t go a miss either. Mowing the lawn, weeding pathways and cutting loose branches will wrap the garden up nicely.

Final words

You have many options for home improvement projects that add value to your home. Remember that the key point is to add value to your house, for every $1 you spend you want to get at least $2 back, preferably $3.

Be careful not to over capitalize, particularly when updating the bathroom and kitchen, and remember that first impressions count.

We buy houses privately from many home sellers who choose not to renovate their house due to lack of time, experience and money.

We love ugly homes and buy them in an ‘As-Is’ condition! So you don’t need to do anything.

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