More than a third of Australian homeowners are currently looking to make the most out of the recent boom in property prices by selling their homes. But how do you add value to your property and get it ready for the market in order to get the best price? The 7 tips below will help you invest in your home for the greatest return.
New data from Westpac shows seller confidence is now higher than it was prior to the COVID-19 pandemic, with 35% of homeowners considering selling by 2026, and 12% already in the process of putting their house on the market or planning to do so in the next 12 months.
So, if you’re a homeowner keen to sell your property in the current hot market, below are seven ways you could make it more attractive to potential buyers.
1. Bathroom Revamp
Buyers know that a bathroom remodel is a pricey and time-consuming project so they’re looking for a space that they won’t need to do much if any work on. So, your bathroom/s will likely attract more scrutiny than any other room.
If your bathroom is moderately new and not too dated, putting in the effort to hire professional cleaners to get it sparkling, will add even more value to the already modern space.
However, if your bathroom is fairly dated, consider updating some of the obvious essentials such as a new sink or tapware, outdated countertops and cabinets, and a fresh coat of paint. It may be less expensive than you think but will make for a great return in the end.
2. Fresh Face for the Kitchen
Giving the bathroom a good run for its money in terms of scrutiny is the kitchen.
But you don’t have to blow the budget to revitalise your space. Projects such as replacing old cupboards and pantry doors, upgrading the benchtops, and making sure the taps and electrical fittings are in good working order are effective ways to give the kitchen a more refined and maintained look that prospective buyers will appreciate.
Another way to add new life to your kitchen is through the appliances. If they’re old and outdated, they’ll bring the rest of the kitchen down with them. The good news is that if you have to buy new appliances, at least you can take them with you!
3. New Floors
Nothing screams “I’ve seen better days” like stained carpet, scuffed floorboards, or chipped tiles.
If the floor is dirty or dated, it won’t be long until a prospective buyer will start thinking about what else is wrong with the house that they can’t immediately see.
If it’s within your budget, consider installing new floors. If not, other options involve painting your tile or hiring a professional carpet cleaning service are both viable and affordable options that will improve the overall look of your property.
4. Bring the outside, in
One of the quickest and cheapest ways of making the inside of your home feel fresher and more alive is to add a bit of greenery in each room.
Pot plants are fantastic because they’re low maintenance and add vibrancy to your space.
And once again, rather than leaving them behind, like most other things on this list, you can take them with you when you sell your property.
5. Energy efficiency
A review of international research shows that properties with high energy-efficiency ratings typically sell for up to 10% more than a comparable property!
Including more energy-saving features in your home, such as improved lighting technologies, insulation, draught sealing and batteries, will allow potential buyers to feel more comfortable spending more when they’re thinking about the possible future savings.
The government’s Your Home website is a great starting point when it comes to making your property more energy-efficient and environmentally sustainable.
6. Fresh coat of paint
A fresh coat of paint is an affordable way to easily make a space seem fresh and bright.
When choosing new paint for your property, opt for neutral tones that will speak to most potential buyers. When looking at a property to move in to, people want to be able to see themselves in the space – neutral paint colours can better accommodate for these different imaginations.
And remember, lighter shades like beige and white also give the impression of more spacious rooms.
7. Impress with your landscape
First impressions last – so one way to instantly increase the initial ‘wow’ factor of your home is to upgrade its exterior.
Trim any overgrown bushes, mow the yard, apply grass seed where there are bare patches, get some new flowers and plants in the garden beds, and ensure the fence looks great.
If you don’t have the tools for the job, or you’re simply more of an indoors person, consider hiring a landscaper to help out.
Thinking about your own property upgrade?
If you’re thinking about selling your current property to buy elsewhere, get in touch today to discuss your finance options and borrowing capacity.
We’d love to take some weight off your shoulders when it comes to everything finance, so you can focus on getting your current property ready for sale!