How to Add Value to Your Home

compare your property
If you are looking at selling, or just want a better place to live, then adding features to your home can be the best way to do this. Adding features adds value to your property, but this is only true if you carry out the right renovations and do so in the right manner. Here we consider how to add value to your home through renovations.

Repair damage and signs of aging

Properties will age and get damaged over the years and it is important you do not sell or even get your home valued with these signs of ageing and damage visible. Repairing damage is a simple place to start, but even this can be expensive. You will need to repair any damage properly so that the home is both safe and secure. You will then need to repaint the property to make it sparkle in the sun so you can benefit from the right light.

Compare your property to the market

To gauge what you could be getting for your property you will need to compare it to similar homes on the market. There is often a clear reason why your home is not valued as highly as other comparable properties, and it is possible to amend this in many cases.

Having a master bedroom without an en suite bathroom, for example, can knock a great deal off the value of your home, but putting in an en suite will not necessarily cost you that much. To add value to your home it is important to consider why your property is valued lower than comparable ones on the market.

Utilise the outside

If you have a backyard that is overgrown and ugly then any potential buyer will look at it as a chore they need to complete. If you properly utilise the outside of your home, however, you will be able to sell this as an easily maintained feature.

The backyard of your home can be transformed into an area for socialising and entertaining without any significant costs having to be fronted, so this is certainly worthwhile. With a patio area, an awning to provide shade, and some outdoor furniture, your backyard instantly becomes a feature rather than a burden.

Renovate on a budget

When renovating it is essential that you budget so you are adding value and not simply spending money on which you may not be able to get a return. Your renovations need to be carefully budgeted so you are not wasting your home loan without adding any equity to your property. Remember that it is difficult to add the value you spend on renovation unless you do something that actively improves the property, adds a feature and makes a difference on paper.

Explore options

Before you begin the process of renovating it is important you explore the options properly. There is a great deal you can do to add value to your home, but you need to have a clear idea before you begin. Visiting some open houses can give you ideas about simple steps you can take. Watching DIY makeover shows is also a good option to improve your knowledge and understanding before you begin.