What can you do to your home to make sure you get the best sale price? How about a little DIY renovating?
Property expert Peter Sissons says minor alterations, like new carpet, a lick of paint or new blinds can mean the difference between achieving and exceeding your desired asking price.
“Many people don’t realise that it doesn’t take much work to increase the value of your home by a substantial amount,” he said.
“I have seen properties undertake a minor facelift and achieve up to $35,000 more than expected at sale time.
“In this competitive and tough property market all sellers need to be looking at how they can best present their property, and how they can make small improvements to impress the buyers”
Mr Sissons says if you have a larger budget for your renovation there are specific rooms that are critical to evaluate.
“Any room that will be used extensively, or that guests will view, are the game changers – well presented bathrooms and kitchens are always high on a buyer’s priority list and can make or break a sale” he said.
Damian Olsen was one person who took Mr Sissons advice and reaped the rewards on his property in suburban Brisbane. When he bought my house, it was a run-down student property with not much going for it. After some renovations - painting inside and out, new carpets, light fittings, tiling, blinds, landscaping, laundry upgrade and a new roof sheeting, his $25,000 investment took a house initially valued in the low $400,000’s to multiple offers over $500,000 with an eventual sale at $535,000.
Keen to follow in Damian's footsteps? Follow this advice.
TIPS FOR DIY RENOVATING
1. Paint – never underestimate how much a fresh paint job will improve the opinion of your home, so little investment for so much return
2. Flooring – This really isn’t that expensive, whether it’s carpet or tile, new flooring can make such a difference to any room in the house
3. Lights – Lights are another easy addition that can literally brighten your home, making it so inviting
4. Window dressing – new curtains or blinds make a property look cared for
5. Landscaping – Often forgotten but always the first impression buyers get, don’t neglect your garden
6. Don’t forget the roof – it makes up more than 50% of the visual impact of the home, so pay attention to this part of your home
1. Bathroom – If you can afford it, an extra bathroom can take you into the next price bracket, it may cost $15,000 but could increase the end value by as much as $40,000+
2. Kitchen – Kitchens are often the most important room in the house for new owners, make sure yours is up to scratch
3. Living Area – If you have the space, an extra living area is a must for family homes now
4. Car park – No longer one car households, extra space for cars in garages or driveways are a big plus
5. Laundry – Any mother will tell you this is one of the most overlooked rooms in the house - appeal to families with a well appointed laundry
For more information visit www.sissons.com.au