All About Your Home Worth in 2016: The Renovations That Add Value
Keeping Up With the Tides!
A new study suggests that many Australians believe that their homes are worth more than they were in the previous year. Although there were some ups thanks to the market concentration and booming markets, the end of 2015 signaled that growth is already cooling down.
Nonetheless, data from Slater and Gordon (via Domain) reveals that around 78% of Australians think their property values increased for the past year. In fact, the majority of Sydney respondents think that their property prices experienced considerable uptake – so as with Melbourne residents.
One of the best ways to increase your property worth is through a quality renovation. Below we outline some ways that you can do this.
Kitchen Renovation
A lot of homeowners believe that the kitchen is the heart of the home. It is afterall one of the busiest parts of the home. That is why you stand a better chance of increasing your property’s appeal and value through a kitchen renovation.
It is important with a kitchen renovation to not get carried away and overcapitalise. For example a $50,000 kitchen renovation in a small apartment may not “add value” as it may do in a large house or prestige area.
Bathroom Renovation
Got the space for a second bathroom? If so, it’s a great way to increase the value of your home.
Otherwise looking to add space and light in an existing bathroom can also be valuable. The cost of renovating your bathroom depends on your budget.
The budget for a bathroom renovation can vary significantly. Everything you select from the quality of tiles, type of bath-tub and vanity unit can move the budget around by thousands. Moving plumbing locations around during the renovation can also add to the cost, so it may be best to speak to a plumber, experienced bathroom renovator or interior designer about your options there.
More Quick Win Renovations That Add Value:
- Painting the house
Refreshing your home with a good paint job can add some value. A professional painter can help you decide on the right colour to use.
- Quality Appliances
Go for energy-efficient appliances. Ask a local electrician and you would find the energy-efficiency features can help increase the value of your home and save you money.
- Add an extra bedroom
In some areas this can increase the value of a house by $50,000+. Always a good option especially if you are running out of space at home and don’t want to move.
Find Builders and Other Tradesmen for your Home Improvements
If you are looking for good tradesmen or builders to help with your home improvements, why not let our free Tradebusters tradesmen concierge assist you. Tell us about your renovation needs and a member of our team will get back to you shortly.
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