6 Ways to Add Value to Your Home RenovationPublished
While most people renovate their homes to improve their own living space, many are now also opting to renovate before selling. Since renovations can be costly and time-consuming, you may be wondering: is it worth renovating a house before selling?
The truth is that even small makeovers can add value to your home and its resale value by showcasing modern functionality and updating the design to entice potential buyers. Below are our favourite renovation ideas to increase the value of your home before you sell.
Whether you’re renovating for yourself or planning to sell, it’s hard to deny that open-plan living adds value to your home. When you have your kitchen, dining room and living room in one large, connected space, your entire home can seem brighter and more spacious. Depending on the current layout of your house, creating a different floor plan may require the help of a professional builder and designer, (or by getting in touch with The Inside Project). These professionals know how to modify floor plans and walls to create larger spaces that can add thousands of dollars in value to your home.
Since the kitchen is one of the busiest areas of a house, a kitchen remodel is near the top of the list of easy renovations to increase home value. Nowadays, buyers are looking for modern kitchens that are open and well thought out.
These offer greater functionality, give the impression that the kitchen is larger, and even allow for easier flow to other areas. One of the ways you can achieve this through renovation is by adding a kitchen island, or moving storage cabinets from the floor to the ceiling.
Depending on the scale of your project, kitchen remodels can be expensive. Before you start, it’s a good idea to ask: how much does a kitchen renovation add to home value? The answer is a lot more than you probably think. A kitchen renovation can add as much as $50,000 in value to your house, more in some cases. Many buyers are willing to pay higher prices for functional kitchens, rather than taking on extensive renovations themselves.
If a complete kitchen remodel is not within your budget, there are several smaller updates you can make to add value to your kitchen. A good place to start is by replacing your kitchen finishes, including cabinets, appliances and bench-tops. However, you can also replace old fittings with more modern ones, such as taps and drawer knobs.
Renovating the bathrooms is another powerful way to add extra value to your home. Interior design trends are currently favouring luxurious, retreat-style bathrooms that are often minimalistic in appearance. You can talk to a bathroom renovation specialist, such as the team at The Inside Project, to discover how you can achieve this look in your own bathroom space.
Freshening up your bathroom with neutral tiles, natural accessories, and smaller cosmetic updates to the shower fittings and tap fixtures are some of the most effective ways to quickly update the appearance of your bathroom.
Although bathroom renovations can be complicated, and often require the expertise of plumbers and tilers, the return on investment is staggering; bathroom renovations can add up to 10 per cent to your home’s value.
Neutral Colours and Flooring
Neutral colours are popular in homes for a reason: they’re timeless. Look anywhere for a home renovation mood board, and you’ll find pictures of cosy living rooms filled with grey, white, beige, taupe and brown.
By using neutral colours as the base of your home renovations, such as in the colour of your walls, you create an inspiring blank canvas that can be easily styled with classy furniture and decorations. Not to mention — neutral wall colours are proven to make rooms appear larger!
When it comes to giving your property a makeover, don’t underestimate the value of good flooring. One of the most affordable renovation solutions is to replace carpeted spaces with laminate or wood veneer flooring.
These materials are durable, cost effective and easy to maintain. Polished hardwood or tile are other popular flooring options, however experts agree that laminate floors installed during renovations are a better return on investment, since they add more value than carpet for the average property.
Lighting and Window Updates
Lighting is one of the most important elements of your home, especially if you are planning to sell your property through a showcase.
In your initial discussions with designers, focus on renovation techniques that maximise your property’s natural light, such as replacing walls or adding new windows. Instead of warm or yellow light bulbs, which can make your space feel dimly lit, opt for ‘white’ LED lights that brighten rooms.
You may also like to invest in smart lighting, which is one of the best cheap renovations to increase home value. Since smart lighting is controlled by apps, it offers a convenient and modern lighting solution that not only adds value, but also a ‘wow’ factor to your house.
In addition to brightening your home through lighting, updating your windows is an affordable way to add extra value to your home. Roller blinds seem to always make the list of the best home renovation ideas in Australia, since they are low-cost, simple to install, and offer privacy.
Roller blinds not only help to add resale value to your home, but also increase its energy efficiency by acting as added insulation. This means you can spend less money on energy bills, and help the environment through reduced power consumption.
When searching for a new house, many buyers look specifically for houses with sufficient inbuilt storage.
This is because inbuilt storage is practical and more convenient than having multiple free-standing wardrobes and cupboards. In your renovations, talk to your designer about adding built-in wardrobes to each bedroom.
To boost the value of your home even further, you can add a walk-in wardrobe to the master bedroom, and storage in the laundry room as a valuable addition for families.
When planning a renovation, visiting showrooms and talking to design specialists is always a good starting place.
The Inside Project has over a decade of industry experience in renovation and understands how to add value to your property. Our dedicated team can guide you through the renovation process, from planning to implementation, and is eager to help you navigate each step. For home renovations, Melbourne trusts, chat with our team on 1300 126 457 or book a consultation online.
Check out our other blogs on all things about renovations, guides and keeping up to date with the latest trends.
For more ideas to improve the value of home in Australia, check out this blog by your mortgage.
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