Every year, every month, every day. Every time we look at the market stats and suburb demographics, it seems like our properties gain value. And these days, it doesn’t matter where you live; the prices continue to climb across Australia.
As a homeowner, you’re largely a spectator to the outside market forces that shape these trends. That said, you still have a role to play: improving your home from the inside-out.
Strategic home improvement is the best way to boost your property’s value. It’s a broad term, home improvement. Anything from hiring an electrician in Melbourne to rewire your living room to a full-scale backyard renovation applies. The only qualification? The adjustment should improve the appearance and overall liveability of your home.
So where should you get started? If boosting your property’s value is on your summer to-do list, you’re in the right place. Here are six of our favourite tips to boost the value of your property.
1. Think first impressions
We’re taught that first impressions matter, and while this wisdom doesn’t apply to every context, it definitely does when it comes to properties. The moment a prospective buyer sees your home, they’re forming opinions, for better or worse. By taking the time to enhance your property’s curbside appeal, you can help ensure those opinions fall into the former camp.
Simplicity is the key here. If you have a front yard (or even some shrubbery), give it a clean, give it a trim, get rid of the weeds. If your front fence and gate is looking a little worn or faded, give it a fresh coat of paint.
How far you go with these improvement strategies is up to you, so explore all options. And be sure to put yourself in the buyer's shoes. Drive past your property to see how your improvements stand up to a glance. Doing so will tell you whether that particular shade of blue on your front door complements the rest of your home’s colours.
2. Brighten your spaces
A buyer’s mood is temperamental. The tiniest detail can chill enthusiasm. Another’s mood is out of your hands; that said, you can have a positive influence on how they feel. Through lighting.
A bright space will always feel roomy and cheerful, the same way a dark or dim space will feel poky and uninviting. Take advantage of all natural light on offer; for anywhere without, choose bulbs that emit soft, inviting light. Also, consider mirrors. Place them right, and light will bounce through a room. It’s the kind of effect that lifts the mood of any space. And any buyer, for that matter.
3. Upgrade your kitchen
The rumours are true: kitchens sell homes. And with good reason. Your kitchen is a space for connection, curiosity, and nourishment. A good kitchen brings everything together, so make sure yours hits all the right notes.
Like every other tip on this list, there’s an entire spectrum of improvements you can make in the kitchen. At one end, you have a complete renovation. At the other end, you have modest improvements, like updating cabinet hardware or getting a new faucet for the sink, options that will appeal to anyone who doesn’t have the luxury of the former. The kitchen is all about details, so look for improvements that catch the eye, no matter how small they are.
4. A fresh lick of paint
Yes, we’ve mentioned fresh paint already. And why not? If you’re after an improvement that almost always (we’ll get to the almost in a minute) stops a buyer in their tracks, it’s difficult to deny the power of fresh paint. Done well, it instantly makes your home feel clean, modern, and ready to live in, three ticks a buyer always considers.
What colours, you ask? A highly subjective question; some might even say controversial. Not that it needs to be. If you’re stuck for ideas, start with neutral shades, as these have a timeless appeal that isn’t confronting. Think warm white, muted beige. Just take your time with this improvement. A hasty paint job will do you no favours.
5. Think energy efficient
Most of these tips focus on your property’s appearance more than its functionality. Time to swing favour in the other direction. Making your property energy efficient is a green tick in everyone’s book, an improvement that has far-reaching benefits.
A simple switch to LED lighting is a great place to start. Next, consider low-flow showerheads. There are countless ways to make your property more efficient and sustainable, so do your research. A wonderful starting point is the Green Building Council of Australia.
The brilliant thing about taking the efficient path is the benefits you’ll enjoy, such as cheaper utility bills. You’ll enjoy these regardless of whether or not you sell, so don’t hesitate.
6. Make your outdoors functional
Prospective buyers love it when you spark their imagination. And nothing will spark their imagination more than a well-designed, well-kept outdoor area. We’re a nation that loves the outdoors, so why not lean into our collective passion and make your property’s outdoor area one of its brightest attributes?
Again, you needn’t overhaul the backyard and install a saltwater pool, appealing as that sounds. Smart, modest improvements will work wonders, like a small patio set beside your herb garden. Home improvements work when they strike the balance between creative and practical; aim for that sweet spot, and success is yours.
Strengthen your Investment with these Value Boosting Tips
While these are six of our favourite tips for boosting property value, they are six of many. Home improvement is a pursuit that rewards creativity; yes, the obvious improvements will always impress, but so will the ones that take a prospective buyer by surprise. These improvements could mean the difference between a successful sale and a ‘thanks but no thanks’.
So, take the time to work out what needs improving and what needs enhancing. In the end, it will make all the difference.
