Not all renovations give back the value you think they might, or should – and some even cost far more than they will ever return. If you’re keen to improve your home without losing value, here’s how.
Situated at the heart of any home, a modern and functional kitchen is a great selling point – and lets prospective buyers immediately visualise themselves at home. Although a custom-made kitchen is the ideal, you don’t have to spend a fortune to get that ‘wow factor’. Upgrade cheaper cabinetry with a re-paint and modernise handles for a new look. Invest in high-quality and energy-efficient appliances as well as superior benchtops. These extra touches really elevate the room and will definitely add value. Most importantly, design the space for living in, with room for friends and family cooking made easy.
Inside and outside living spaces have become very inter-changeable and our expectations around this have adapted accordingly. Thanks to the glorious Australian weather, we now have the option to spend much of our day outside, whether that’s for dining, lounging around or even an alfresco zoom meeting. Renovating outside space into useable areas is a great way to add functional square footage to your property – which also converts nicely into added value. Think soft furnishings, fire pits, bright cushions and weather-proofing – not to mention the all-important BBQ.
There’s nothing like a good old repaint to quickly modernise and refresh the feel. It’s a cheap way to give a cosmetic overhaul – and always gives the impression of a well-cared for home. Make sure the front of house has good street appeal. A smart front door and well cared for garden area are the shop window for prospective buyers – and the best chance you have to give that all important first impression.
If you’re looking to refinance your home loan, contact MoneyQuest on 1300 886 100 or contact us online.
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