Home Renovation Tips: Adding value to your property

By the resi financial blog team, 29 January 2014

How do I add value to my property?

If you're looking for ways to help improve the value of a property - whether this be your family home or an investment property - there are a wide range of options you can undertake in order to help increase its market value.

This can be especially useful for those out there looking to earn a decent capital gain return on their property portfolios. If you're home is beginning to gain value on its own, some of these upgrades could help you to maximise these profits.

Curb Appeal

The old saying about first impressions is just as true when it comes to property as it is with people. The first thing potential buyers are going to see when they pull up to your home is the front yard, which needs to be absolutely stunning in order to entice their interest.

Taking the time to do the basics of gardening is always a great place to start. But look a little deeper and take a close look at your home. Something that many home sellers will do is apply a fresh coat of paint in order to give the home that fresh, crisp look.

Furthermore, something like a broken roof will be a warning sign. While it may seem expensive to undertake these kinds of repairs, you're more likely to get that cost back from a successful sale than an unsuccessful one.

Outdoor Extensions

Something that a lot of buyers are warming to is the accessibility of their backyard from the main living area - an emphasis on indoor/outdoor flow.

Therefore, it could be worth looking into the option of building a deck in the backyard of the property to help provide this type of aesthetic. And decks don't have to be the traditional, boring square shape.

Nowadays, a little creativity can go far. Design a deck that works well with your property and emphasises the natural look and feel of the place. Built-in fire pits, an outdoor kitchen, an incorporated spa pool - all of these things will help to add value to your real estate.

Categories: Home Loans, Property Investment