5 Cost effective ways to add value to your home before selling.
Ask most estate agents ‘when is a good time to sell’ and you will likely receive the same answer as the one when you ask ‘when is a good time to buy'. The response is always now. But whilst it can be a mental minefield to attempt to navigate the Australian property market, house prices are indeed at record highs. And coupled with the fact that currently, the average time on the market is only 30 days, it is definitely a seller's market. However, despite this great news for sellers, this doesn't mean you should sit back and wait for offers. There are still many ways to increase the value and offers on your property. Without doing a full renovation, we look at some of the most impactful and cost-effective ways of doing this.
1. Get painting!
Ok, this is a given, but simply should not be overlooked. A fresh coat of paint can quickly and easily do wonders for the look of your home. Firstly, do not get carried away. Choose the rooms that have the most impact (or need) and start there. Choose colours that match the existing colour - this means that you will not have to worry about undercoats or the edges. One coat, one time, and move on!
2. Clean, throw or store
Some call it Fung-Shui, but the energy and feel of your home are directly affected by the features and stuff that you have in it. Don’t lose the spacious hallway feel by having it cluttered with bicycles and shoes, clear them away. Throw away, sell donate or store anything that does not add to your home. A clear clean house will attract more offers, and will leave you with less stuff to move when you pack up!
3. Refresh the kitchen
For many, the centrepiece and heart of the home is in the kitchen. So after a good clean and junk removal - what can be done to make the kitchen come alive?. After a fresh coat, consider replacing the splashback tiles with fresh new white tiles - this is cheap and easy to do but looks great. Sand back the outer surfaces of wooden cabinets and surfaces to make them feel new. Take a trip to bunnings and replace taps and handles. These small changes collectively make a huge difference. If you want to go the extra mile, consider upgrading the sink to a double sink for the ‘feature look’ and consider replacing the flooring with some fresh vinyl.
4. Remove or clean the carpets
If your carpets are looking old and tired, consider having them professionally cleaned, it can make a huge difference. Even better yet, if possible consider removing the carpeting altogether to reveal the wooden floorboards which many home buyers just love. If possible, sand these back and treat them with a dark wood stain. Darker floorboards are considered more valuable and add more value to the home.
5. Freshen up the facade and garden
As we all know - first impressions count. And the first thing prospective buyers will see is the front of the house and possibly the garden if you have one. Consider hiring a pressure hose and giving any brickwork on the facade, steps and driveway a deep clean to remove dirt and discolouration. Often they will look brand new! Have some wooded panels? Sand them back and give them a fresh coat of varnish. The same applies to the front door. Consider a refresh and maybe replace the door knocker. Finally, make sure the lawn is mowed and hedges trimmed and cut back to allow maximum light.
If it all seems like a bit much, consider engaging a local builder or handyman with a set budget. Explain that you want to create the most impact simply to sell the home. Either way, it may cost a little, by following these tips, you could add 10s of thousands to the value and settlement price of your home.
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