5 Minor Home Improvements that Add Major Resale Value
Even if you aren't thinking of selling anytime soon, it's important to consider future resale value when making changes to your home.
These 5 cost-effective home improvements will increase the liveability of your home, provide you with a great return on your investment and maximise the value when it comes time to move.
- Outdoor living - If you have a small flat area, anywhere on your section, adding ground-level decking is a relatively cheap and easy way to add value. Dress it up with outdoor seating, a brazier and a potted plant and you have a space that visitors will love. It will also look beautiful in photographs and attract buyers looking online.
- Garage carpet - Turn your garage into a multi-purpose room by adding purpose-made garage carpet. This relatively cheap investment can turn a cold concrete box into a comfortable space for play, work or exercise. Especially if you paint the walls a modern, fresh colour too. Plus, you can still park your car in there when you need to! When you go on the market, dress it up as a home gym or office, so buyers can see the potential.
- Plant fruit trees - As a buyer, there is something heart-warming and enticing about homes with established fruit trees. It's that bonus 'icing on the cake' which can separate your home from the rest. Fruit trees are cheap to buy but they take a few years to grow and start looking impressive. So the time to plant them is well before you are even thinking about moving. Talk to your local garden centre to find out what varieties will work best in your location.
- Invest in extra insulation - In the past, buyers would simply ask "Is this home insulated?". Now they want to know exactly what kind of material has been used, how recently it was installed and what condition it's in. This relatively cheap focus area is easy to improve. Even if you already have insulation, you can often improve its quality by using better materials or by adding an extra insulation 'blanket' in your roof space to retain more heat and/or a 'ground moisture barrier' under your home to stop any rising damp. The best part is, you get to enjoy the benefits of living in a warmer home right up until you decide to move.
- Painting and gardening - In our experience, nothing gives you a better return on investment than painting and gardening. Every aspect of a home looks better with a fresh coat of paint. The result is even better if you use a warm, neutral, modern colour. Ask your local paint shop what their tried and tested colours are, or get in touch with us for suggestions. If in doubt, stick to a light warm-grey (picture the colour of 'sand dunes') for interior walls. Feature walls are ok but limit it to one wall per room at most and avoid it if the room is already dark.
As for gardening, trim or remove any trees that are blocking the sun or creeping close to your gutters. This will stop them from getting blocked up with leaves. Next, focus on clearing space to show off as much of your section as possible to visitors and future potential buyers. If you have a lot of grass or empty space, try using concrete stepping stones to create a path. Perhaps leading to some ground-level decking as mentioned above, or to mark out certain areas, like a veggie garden or play area.
What about kitchens and bathrooms?
These two areas are super important and can add serious value. In our experience though, they are also spaces where you can spend a lot of money just to end up breaking even or worse, over-capitalising. If you are renovating your kitchen or bathroom, focus on what's going to make your life better and don't get caught up investing in expensive features you don't need.
If you would like specific advice related to your home, give us a call. We are always happy to discuss potential renovations with our clients.