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Are you thinking about selling your home? Chances are you want to do everything you can to get the best price, which is where value-adding renovations can come in.
One of the most effective ways to boost the appeal and value of your property is to invest in strategic renovations. By tidying up your front yard, repainting your home and refreshing tired carpets and blinds, you can give your property a newly renovated look (without the hefty price tag).
With the right value-adding renovations, you can ensure your property appeals to the widest pool of buyers possible (and increase your chances of selling for a great price). But the key to getting property renovations right is to know which changes will add the most value.
Let’s walk you through five of the best ways to add value through renovations to help you get the best bang for your buck.
First impressions really do count, especially when selling your property. Overgrown lawns, broken fences and rusty screen doors can detract from your property’s appeal and give the appearance of a poorly maintained property.
That’s why prioritising your property’s curbside appeal is a smart way to add value through renovations.
Simple jobs like repainting your property’s exterior, fixing broken gates, landscaping your front garden and even purchasing an affordable outdoor furniture set can instantly boost the appeal of your property. The key is to make sure your property looks clean, tidy and well maintained, even before buyers step through your front door.
The kitchen is the heart of any home. Being a high-traffic wet area means that your kitchen is likely to show the earliest signs of wear and tear on your property. Plus, kitchen styles and trends can date quickly and be a tell-tale sign of your property’s age.
But investing thousands of dollars into a major kitchen renovation isn’t your only option. In fact, one of the best ways to add value is to make a few strategic updates in your kitchen instead.
A good place to start is by updating or painting any old cabinet doors and handles, which can become faded and tired over the years. Next, consider switching out old leaky taps for simple modern tapware. Plus, purchasing a few new appliances (like dishwashers and microwaves) can instantly modernise your property.
Remember: keep your colour scheme neutral and opt for modern appliances that will appeal to a wide pool of buyers and help them imagine themselves in your home.
Just like the kitchen, bathrooms are another space that can quickly show the age of your property. By making a few cost-effective updates to your bathroom, you can give the illusion of a full renovation (at a fraction of the cost).
If cracked tiles or stains are present, it’s worth retiling at least portions of your bathroom to ensure walls and floors are clean and free from damage. Then, you can look to update tapware, replace tired shower curtains and upgrade ventilation fans to ensure your bathroom looks fresh and new.
Plus, make sure to style your bathroom ahead of open homes with scented candles, fresh matching towels and even lush indoor plants to instantly boost its appeal to buyers.
When a buyer steps into your property, one of the finer details they’ll instantly notice is tired and worn out flooring and window coverings. But refreshing your floor and curtains is a smart and cost-effective renovation that can add significant value to your property when selling.
Take a look at the flooring in high-traffic areas of your home, such as hallways, living rooms and entryways. If you can see visible signs of stains, scratches or wear and tear, it’s important to get this fixed prior to listing your property for sale.
A good rule of thumb is to invest in affordable vinyl or laminate flooring in living spaces (such as dining rooms, family rooms and hallways). For wet areas, stick with cost-effective tiles in neutral colours that will be easy to clean and maintain for years to come.
As for bedrooms, looking for durable carpet in dark neutral shades that will add a sense of warmth and comfort (while lasting the test of time).
When it comes to window covers, faded blinds and worn down curtains will detract from the appeal of your property. So, be sure to switch out to neutral sheer curtains or simple blinds that will give a fresh, modern look to your property.
Last but not least is our final tip for adding value to your property through renovation: tidy up your outdoor spaces. Whether you’ve got a balcony or a leafy backyard, there are simple steps you can take to boost the appeal of these areas and add value to your property.
For big backyards, make sure your lawns are mowed, your gardens are landscaped and any outdoor furniture is new, clean and tidy. For smaller spaces (like courtyards or patios), make sure to remove weeds and leaves, brush away cobwebs and add some living colour through potted plants and flowers.
When it comes to adding value to your property, simple and cost-effective renovations can increase the appeal of your property and attract a wide pool of buyers to your home. The key to getting the most out of your renovations is to target what areas of your home need updating and to find affordable ways to modernise your home.
And that’s a wrap! When it comes to boosting the value of your home, strategic renovations can be a smart way to lift your final sale price. The key is to invest in smart, value-adding renovations that give you maximum impact for minimum outlay.
Are you wondering how you’re going to finance your value-adding renovations? Bridgit can help. You can secure a Bridgit bridging loan to help fund these renovations, and help you secure your next property (even before you’ve sold your current home).
Find out how a Bridgit bridging loan can help take the stress and hassle out of the process with same-day approval, 48-hour settlement and no double mortgages so you can buy now and sell later.
Meet Sue and Ralf - retirees from North NSW who were able to move into their dream retirement home with our fast and accessible single security bridging loan. Read more about Sue and Ralf’s story.
When negotiations for a same-day settlement fell through, this homeowner’s broker reached out to Bridgit in need of urgent bridging finance.
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Bridgit has been named a finalist in the Best Lending Innovation category of the Finder Innovation Awards 2023 – the same category it won last year.
