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Posted on 2017-12-08

Renovation Tips to Increase Value of Your Home

When you’re thinking about renovating, you should keep profit in mind.

Your home is your biggest asset, so each time you decide to invest in your asset think about ways in which you can grow it. This thought process will help you gain in the long term. So if you ever decide to sell your property to upsize or downsize, you have peace of mind that you did what you could to maximize your profit. And we all like profits!

Trends come and go in the housing market. One year a floating kitchen benchtop may be the trendsetting feature, the next year it might be the traditional breakfast bar. Regardless of the trends, there are certain timeless renovation hacks that will always add value to your property.

Here are our top 3 renovation tips to consider that can add value to your home.

Storage

Whether you are renovating your laundry, bathroom, kitchen, or garage – storage is always something buyers consider paying more for. Especially in a family home. So when making plans for your renovation always consider savvy storage ideas using wall and floor space creatively.

Don’t forget the facade

We all know that first impressions count. Well this is the case for your home too, especially when it’s on the market. Buyers will judge your home from the very first look so it’s a good idea to invest in your front landscape and exterior facade. A fresh coat of paint or a render over old bricks or weatherboard can add tremendous value to and create a lasting first impression (as long as the interior matches the value).

Polished wooden floors

Generally, when deciding to get rid of the old carpet, polished wooden floors can deliver more profits in the long term. Polished floors are timeless, easy to clean, and can completely transform the aesthetic of your home.

Financing your renovation is also a crucial factor to consider when thinking about your return and difference finance options can save you more or cost you more in the long run.

Some renovation finance options you can consider are:

  • Refinance
  • Use equity
  • Use an overdraft
  • Take out a personal loan
  • Use a credit card

Your options are dependent on the current state of your mortgage, your income, liabilities, and your credit score.

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