Managing your home with an investor’s mindset can help you secure your financial future. With that in mind, the savvy homeowner is constantly seeking ways to enhance the value of their property. Whether you’re planning to sell in the near future or want to enjoy a higher quality of living, making strategic improvements can significantly boost your home’s value.
Picking the most valuable improvements is a complex process requiring much research. For those interested, real estate valuers in Perth are primed with the specialised knowledge and experience needed to help you plan for any renovations or upgrades.
Potential upgrades can range from budget-friendly DIY projects to more extensive renovations.
Even minor upgrades can yield substantial returns when implemented strategically. That said, certain large-scale renovations can dramatically boost market value as well.
Some of the most popular options out there include:
- modernising your kitchen
- revamping your bedrooms and bathrooms
- maximising your outdoor space with stylish landscaping
- adding energy-efficient features.
It’s also worth considering the potential impact of technology in homes, including smart home systems and energy-saving devices that appeal to today’s tech-savvy buyers.
Another area to keep in mind is keeping up with maintenance and repairs. Any property valuer will tell you that proactive care can preserve your property’s value over time.
DIY Projects for improving home value
If you’re experienced with DIY projects, you can potentially boost your property’s value while saving a lot of money. You should seriously consider hiring a professional if you lack the expertise to enact more complex renovations or upgrades, as you may end up causing more damage than anything else.
Landscaping is generally one of the most achievable upgrades that can be done yourself. Enhance your kerb appeal by sprucing up your front yard with fresh plants, flowers and a well-maintained lawn. Remember that this is a potential buyer’s first impression of your property.
Another relatively easy step may be installing energy-saving features. These may include:
- LED lighting
- programmable thermostats
- low-flow faucets.
These kinds of considerations can make your home more attractive to eco-conscious buyers.
Smart home technologies can be even easier to implement. Examples include a smart thermostat or security systems, which can add convenience and desirability to your property.
A fresh coat of paint can instantly revitalise your home’s interior and exterior, making it look cleaner and more inviting while also being a relatively easy, if exhausting, endeavour.
Next, you can dive into more complex but even more fruitful options—namely, kitchen upgrades, bathroom makeovers and flooring improvements. Examples could include new cabinets, updated tiles and fixtures and upgrading to hardwood from carpets.
Will adding a pool improve market value?
For those who can afford it, adding a pool to your home can significantly impact its market value. Naturally, this is dependent on a range of external factors. In general, pools appeal to buyers in warm climates and family-oriented neighbourhoods.
However, the costs involved in installing and maintaining a pool should be carefully considered.
With the generally hot weather we experience in Western Australia, pools can be an extremely desirable amenity, increasing the property’s appeal and attracting potential buyers. Large families with children may be particularly interested in homes with pools, which could result in higher offers.
The odd buyer might view pools as a liability due to the ongoing maintenance costs involved, safety concerns and the need for additional insurance coverage.
To what extent a pool can impact market value is dependent on factors like:
- quality and design of the pool
- surrounding landscaping
- overall condition of the property.
Ideally, a pool should complement the home’s aesthetics and functionality and be well-maintained. When these factors align, they can significantly boost the property’s overall attractiveness and value on the market.
So, if you’re considering adding a pool to your property, be sure to carry out as much research as possible to understand your financial resources and general buyer preferences. This will help you determine if adding a pool aligns with your budget and long-term goals.
Should you hire a professional designer?
If your budget allows, hiring a designer when renovating your home can be a wise investment that pays off in the long run. Skilled designers bring a unique blend of creativity, expertise and market knowledge to the project, ensuring that any renovations maximise your property’s potential.
One of the primary benefits of working with a designer is to develop a cohesive and appealing design plan tailored to your home’s unique characteristics and the preferences of potential buyers.
Designers are well-versed in broad trends that appeal to wider audiences, which can help you improve the market appeal of your property. In addition, their keen eye for detail ensures that the renovation is done with skill, precision and high-quality materials, further enhancing the perceived value of your home.
Designers are also effective at working within budgetary limitations and can be trusted to make cost-effective decisions. While some homeowners may view hiring a designer as an additional expense, it can save you money in the long term.
This is down to their established networks with suppliers and contractors. Designers can negotiate better deals on materials and services to focus your budget on impactful upgrades that yield the most significant return on investment.
To learn more about improving your property’s value, contact one of our experts today for a comprehensive valuation service.