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What adds the most value to a house?
Two of the most frequent fixes that homeowners make, in an attempt to increase a house’s value – as well as comfort, of course -, are kitchens and toilets. Although we agree these are indeed great options and always welcomed, they might not be precisely what the house in question actually needs to become more attractive and marketable to potential home buyers. By only focusing on the common fixes, you can miss a significant opportunity to, perhaps, spend the same or even less on renovation costs while still achieving more valuable results on things that are more appropriate to your property in particular.
Something to keep in mind is the target market you will be attempting to sell to, according to your house’s condition and, therefore, possibilities. Most buyers would prefer a home already in a “move-in” condition, so the better the house looks, the likelier they would be to purchase it. In contrast, some of the buyers can be the renovating type, and, as long as the foundation is in good condition, they would be willing to do the minor fixings and cosmetic touches themselves, for a reduction on their final price.
Over the years, with our extensive experience as top Real Estate agents in New Zealand, we have learnt many different factors that make property prices go up. And we have been able to see the best results when our customers follow our precise advice. Here’s a list of some of the upgrades that have had a higher ROI.
Changing the floor plan
Quite a fashion these days, but it has worked wonders for years. Having a more open area helps the house feel inviting, lighter, luminous, and natural, qualities everyone would love to have. Your space may not be as ample, but the moment you open the floor plan, it may seem and feel there’s room for anything.
If your room is relatively small and doesn’t allow many usage options, having a wall knocked down might contribute to perceiving a sense of flow, spaciousness and integration with the rest of the home. Keep in mind, having a room that is not big enough for anything is not worth having at all. Better to transform it into part of a bigger space.
On the other hand, rooms can be too big and miss overall functionality for the house. If this is your case, having it divided into two might help you gain value by adding an extra room to your sales ad. It might well help you fully take advantage of it, as by now having two rooms instead, you gain a whole new space dedicated to an office you didn’t have before, a nursery, or more storage, perhaps. Quite often, it’s not about the total square meters but how they are distributed and used.
Extending areas
Extending spaces towards the outer areas, like a winter garden next to your kitchen, for example, is a way of adding comfort and more square meters at the same time. It will make the house appear cosier to the buyers, and the price will increase due to the inclusion of new meters. Some of these extensions can also be useful to improve functionality. This sort of upgrades can provide an added potential value of fifteen per cent.
Make sure to make the most of your garden, too, as it might help you add another ten per cent of the total value. Nice and neat garden designs are a magnet to the buyers, as they certainly are another integration to the home if they become functional and are well designed for their entertainment.
Doors replacements
Another great addition that will make the house look and operate with more luxury and functionality can be achieved by replacing your garage door with a motorised opener. Who doesn’t love motorised doors?
Painting
Having a fantastic brand new kitchen or bath when the rest of the house remains back in the ‘80s is one of the biggest wasters. Don’t get us wrong, great you had the reno, but it would pay off if, on top of that, you refreshed the painting to a trendier pallette. Neutrals and soft natural colours work great and suit most people, making them attractive to most buyers.
Any fixings, hole and cracks covers, including those in the outer area, will add to the final value. Remember, the exterior is what your buyer will first see about your house and instantly make an idea of the rest, so repainting it can also be beneficial.
Get In Touch Today
There’s not just one answer to what adds value to your home, and as you can see, it might vary entirely from property to property, as well as the list of upgrades that can be made. At Kooger & Co, we can help you discover your unique and suitable options to add actual value to your home.
So get in touch with the team today to find out how you can maximise your home’s potential!