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How targeted renovations can increase a property’s value

March 26, 2024

A little can go a long way when it comes to property renovations and their effect on property sale values - and renovations doesn't have to cost a fortune.

DIY cosmetic updates or landscaping the garden can result in a world of value difference at an open house inspection.

Alternatively, go the whole renovation hog with a total kitchen or bathroom revamp.

But while these renovations are all well and good, targeted updates are the way to go for homeowners looking to sell soon, as these will maximise the property's value.

Let's take a look at the target list.

Street appeal

First impressions matter when it comes to a great sale - and most of these impressions comprise easy, DIY tasks.

So, impress buyers from the outside in with a well-maintained garden, fence and house facade. 

Freshen up or replace your front porch or patio, letter box and drainpipes, and clear out the gutters.

A repaint of details such as the front door and the house exterior overall is a great idea, or use a high-pressure hose to clean these details as well as the driveway.

Floors and windows

Carpets are increasingly a no-no when it comes to flooring, with timber - ideally, hardwood - now the go-to material.

Timber beneath your feet equals long-term easy-care maintenance and style plus less vacuuming, if at all.

And, while cooler than carpet, especially in locations such as Melbourne, underfloor heating or rugs can ensure feet are still warm throughout the year.

Aim for timber floorboards throughout the home as well - except for wet areas, when tiles are best - to ensure continuity.

While you're considering your floors, also look at your windows and screens.

If needed, update the latter at least, especially if pet claws and similar have damaged them.

Large windows are crucial for continually cloudy locations (yes, Melbourne, we're looking at you again!).

If you don't already have some in the house, aim to have some installed especially in darker rooms or if the property is being sold in winter.

Don't forget the possibilities of skylights either.

If nothing else, upgrade your window furnishings and coverings.

How targeted renovations can increase a property's value
Targeted renovations have a chance to increase your property's value but only if they are done well and right.

Kitchens and bathrooms

These rooms are where renovation prices can quickly start to climb with the price of a kitchen renovation alone spiking to $40,000 - and more.

But with kitchens in particular being the go-to place for even terrible cooks, it's worth the money to ensure they're as perfect as possible in the eyes of potential buyers.

If your budget is low, a lick of paint on cupboards or new splashback tiling can make all the difference, as can new cupboard and drawer handles and light fixtures.

Similar budget-priced and DIY cosmetic updates can make a huge difference to bathrooms.

Home office

Unsurprisingly, home offices have never been more popular - and looked for - thanks to the "new normal" of remote working.

If you don't work from home yourself, never fear: instead, utilise a spare room as a basic office, complete with a desk and study chair, some stationery and cupboards.

Even a study nook in a larger area may do the trick as for buyers with kids, this space could become a homework pod.

Ensure to make the entirety both practical and enticing, while remembering that all you need to do is inspire remote worker buyers to see the home's possibilities.

Gardens

You don't have to be an avid green thumb to inspire buyers to your outdoor areas.

But ensure your gardens undergo a great clean-up before open inspections, including mowing the lawn, weeding plant beds, and cutting back or pruning any overgrown trees and shrubs.

Also, highlight any flowers or vegetable patches you may have, again to inspire potential buyers.

And of course, while you're cleaning and clearing up the gardens, do the same for any other outdoor areas such as verandas, patios and barbecue spaces.

We're here to help

Whatever your property plans are, rest assured Listing Loop can help you!

As Australia's leading marketplace for off-market, pre-market listings and more, you'll be ahead of the buyer competition before you even start the purchasing process.

So, what are you waiting for?

Get in the loop!

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