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Add value to your home

Does the advent of Spring have you feeling like making some changes around the home? For some, it could be just cleaning out cupboards and packing away the winter woollies, but others will look around and decide it’s time to renovate.

Renovating your home is exciting but can also be seriously daunting. There are so many questions to consider, each of which will be influenced by budget, lifestyle requirements and your family’s needs.

Before you start, sit down and ask yourself:

– What do you really want to improve, short of demolition and re-building?
– Will you go up, out or both?
– How can your home be made more sustainable?
– Will your budget stretch to achieve what you want to do?
– What might save money; and where are you prepared to compromise?
– How long is the project likely to take?
– Will you need to move out for some time? If not, how will you live with the mess or not being able to use the kitchen or bathroom?
– What improvements are likely to give short-term capital growth?

Here are some ways you can add value to your home. It’s always important to speak with an expert before diving in, and ensure careful planning so you don’t overcapitalise.

Make it sustainable

Making your home more energy-efficient not only improves your lifestyle and reduces your carbon footprint but will also help save money. Changes might include solar panels, skylights, energy-efficient heating and cooling, or installing double-glazed windows. Battery storage can also maximise free energy from the sun, allowing you to store it to be used at any time of the day.

Update the kitchen and bathroom

The kitchen and bathroom are the most-used rooms in any home and as such, should be a priority when considering an upgrade. Not only will it improve your lifestyle but it will help resale value as they are both highly scrutinised by potential buyers. Popular improvements might include better use of space, increased storage, walk-in shower, heated towel racks and a double vanity.

Create space

Consider making use of space below or above your home, such as the attic. Converting the attic into a new room or loft essentially gives you another living area or retreat. At the very least, a place for extra storage! While not every house has a basement, many homes have the space to create room below the floor. This provides a perfect opportunity for a wine cellar or workshop. Not only is this an added luxury that will improve your lifestyle, it doesn’t detract from existing space in your home.

Extend outdoors

A well-designed outdoor living space can greatly expand the useable space within a home and perhaps even add to the value of the property. Your budget might determine whether you enclose it with glass, trellis or screening plants, and cover it with a pergola, retractable roof or a shade sail, but it will undoubtedly be a winner with both family and potential buyers.

Upgrade the essentials

Flooring makes a huge impact on the way your home both looks and feels. Before replacing carpets, consider ripping them up and either polishing the boards below, or installing new hardwood floors, which are long-wearing and visually appealing. Likewise, a fresh coat of paint on the walls will brighten inside and out. Don’t forget the roof, which is often one of the first things a person will see when visiting your home.

Whether you’re selling or not, investing in some well-planned renovations should add value to both your lifestyle and property. Talk over your ideas with an experienced architect to find the best options, and with your financial adviser or broker to understand what you can afford.

About Adam Nobel

Principal
M. Bus, Grad Dip Adv, B.Int Bus, LREA

adam@hugoalexander.com.au

0417 007 001

Adam is the founder and Principal of Hugo Alexander Property Group. With a previous career in advertising, 20 years experience in property investment, and 14 years in Brisbane real estate, he knows the market inside out to ensure his clients grow their wealth faster.

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