Ways to Increase Property Value
How do you increase property value? It's a question commonly asked by those who plan on selling their home. What does it take to add more to the selling price?There are several key home improvements to invest in. To make the most of your available funds, here are the ones you should focus on.
Improve the kerb appealThe term "kerb appeal" refers to how attractive a house looks when seen from the street. This usually covers the front of a property, the mailbox, porch, yard, and the street itself.Naturally, houses with higher kerb appeal demand a higher selling price. Some ways you can improve kerb appeal include:
Update the bathroom and kitchenConsider the following:
Add a bedroomProperties are usually valued two ways: area size and number of bedrooms. You can't really increase area size (unless you buy the adjacent lot) but given enough space, you can add a bedroom.There's a noteworthy increase in value if a property has more bedrooms, but this shouldn't come at the expense of other key rooms like the kitchen and living room.So if a three-bedroom house with a regular-sized kitchen were to convert to a four-bedroom house with a tiny kitchen, it won't really enjoy a considerably higher property valuation.
Make an outdoor entertaining areaAussies love pool parties, barbecues and entertaining outdoors, which is why having this kind of space on your yard will significantly increase your home's property value.Of course, you'll need to take into account:Take note that adding this space can cost upwards of $10,000 (to even $50,000). Totally worth it, though, given the returns.
Build a granny flatFor the uninitiated, a granny flat is a connected or self-contained part of a house. The room is named such because it's an increasingly popular way to accommodate elderly relatives.Interestingly though, granny flats can also be used in different ways, including:
More ideasNeed more ideas for your home renovation projects? Check out our online auctions for even more options. We provides all buyers layers of protection, so you can bid with confidence.If you want to sell your household goods, you can use ALLBIDS to maximise your return, minus the hassle. Get in touch with us today via phone, chat or email to find out how.