Five updates that add the most value when selling

Friday 07 Jun 2019

Not all renovations will increase your profit margin when you come to sell your property. Some projects will cost more than they will ever return. So, what are the most lucrative projects to add value to your home and give you the best outcome?

1. Exterior

Buyers get the first impression of your home from the exterior. Grab their attention with fresh-looking cladding materials or colours on the facade. Make the home more visually appealing by painting the trims, gutters, fascias and bargeboards. Replacing the front door with a modern door can add wow factor, while painting the existing door adds a pop of colour. Simple landscaping can also make your home look more appealing. Ensure the front garden is tidy, lawns mowed and flower beds weeded and mulched. Modernise, repair or paint fences, awnings, porticos and porch details, and consider adding a new house number and letterbox to update the exterior. If there’s no fence, consider adding one along the front boundary to add definition.

2. Kitchen

The kitchen, being the heart of the home, is important to buyers. Giving a good impression here could make the difference in a great sale price. You don’t need to replace the entire kitchen, as this can be expensive and you may risk overcapitalising. Instead, look for ways to bring your kitchen up to date. This could include painting timber and laminate cabinetry, changing the tapware and adding on-trend lighting to modernise the space. Ensure your appliances are in good working order and are clean.

3. Bathroom

Buyers prefer bathrooms to be modern with clean and stylish fixtures and fittings. Although it is easy to overcapitalise here, easy facelifts can make the difference. Replacing the taps and shower head with modern, good quality tapware is an easy update. If the tiles are dated, they can be painted with tile paint for an instant revamp at little cost.

4. Repainting

A fresh coat of paint always gives a home an instant lift, so choose neutral but modern colours. Have consistent colour shades throughout the house to create a modern flow-through effect, as opposed to jarring colours in every other room.

5. Outdoor area

Buyers love indoor-outdoor living as an extension of the house. Creating a well-designed all-weather area can help buyers can imagine themselves living here and enjoying the lifestyle it offers.

 

Source: domain.com.au