It's important to remember when deciding to undertake renovations to you home, that whilst you are spending your hard earned dollars, you are bound to get it back through adding value to your property.
Provided you focus on the right areas and choose a good builder! Spending too much money in the wrong areas can risk over capitalising. Here are our top tips for adding value to your home.
Tip #1
Add more bedrooms
This ones a bit of a no brainer. 4-5 bedrooms houses are becoming more and more common and the old humble 3 bedroom is becoming far less appealing to families. Adding a bedroom or two is a sure way to gain extra value in your home and for around $2000-$2500 a sqm its an affordable option for those who have some equity in their home from the recent property market rise.
Tip #2
Renovate the kitchen
The Kitchen is the heart of the home and is one of the "Big 2" areas which creates more value in your home than any other space.
A fresh modern kitchen is a big tick for buyers, agents and valuers.
In many cases knocking down a dividing wall between your kitchen and another space can create a
desirable open plan. We are finding this is a very common request from our clients and 10 times out of 10 they are thrilled with the result!
Tip #3
Renovate the bathroom
The bathroom is the other "Big 2" when it comes to adding mega value to your home. A dated bathroom can be very unappealing and decrease your homes potential. Creating a clean modern look is a sure way to increase appeal and value.
Tip #4
Create outdoor living
Adding an outdoor living area is like adding an additional living space to your home. A deck or patio directly off your existing living space encourages that magical phrase "indoor/outdoor flow" that we hear so often. Providing shelter with pergola roofs and windbreaker walls and screen will create a truly desirable area for family and entertaining and will be a sure selling point of you home.
Tip #5
Street appeal and backyard improvements
Improving the street appeal of your property can drastically increase the appeal of your home. Having a beautifully renovated home inside can be dragged down by a less desirable back and front yard. Improvements to fencing, paths, gardens and lawns will give your property step in the right direction towards gaining value and appeal in your home.
Disclaimer: This article is offered as a general guide only. The views and information expressed in this article are those of the authors and do not necessarily reflect the official policy or position of any agency in New Zealand. Any person who relies upon any matter contained in this guide does so entirely at their own risk.
