Easy Tips For Adding Value To Your Real Estate
When talking about property investment and the housing market, there is one thing that is most important to note. The housing market has been, until recently, at its lowest point in its whole history. This is because it was one of the primary causes of the Great Economic Crisis. The crisis started because of all the poorly secured loans for purchasing a new real estate. Once all those credits got to the payment phase, the bubble had burst, and many financial institutions were left without their money, thus going bankrupt. Since then, real estate market has been full of distrust and not many people have succeeded in selling their homes. However, this is starting to improve in the recent months, and it is now possible to put a little effort in improving your home, in order to attract customers. If you’re interested in more details about property investments you can visit Australian property investment website Simple Home Invest.
Now, if you are really keen on selling your house, you would, normally, want to get the best possible price. However, the thing that you should note is that not every investment in your house is going to increase its value, because some things can put potential buyers off, and buyers are a valuable asset nowadays, since they are so rare. These following tips will help you increase the value of your home, and we will see some things that are definite don’ts.
Make more space
Providing extra square footage would be one of the best investments that you can make in your home, as it is the investment that adds the most to the value of the house. It doesn’t matter whether you add a gym, a study or a new bedroom, it is the expansion that matters. More footage means more money, it’s as simple as that.
One of the best things that you can do, when talking about expanding the living space of your house, is to convert the attic of your house into a living space. This is considered to be the best solution because it can be done from above, without invading the living space downstairs, and, also, it is cheaper than adding a whole new room to the house. The average increase in the value of the house, when converting the attic, is around 25,000 AUD. Taking into account the costs that need to be covered to finish the conversion, it is evident that this is the thing that pays off the most.
Improve kitchen space
Focusing on the kitchen is something that you should also pay attention to, especially if you only have the possibilities (either financial or temporal) for the renovation of one part of your house. It is one of the less costly renovations that you can do. On the other hand, this renovation will not increase that much value of your house. It will pay off, for sure, but it will not be some major improvement, and this is something that you should be aware of.
The kitchen space is considered to be one of the most important parts of the house, and it is very important to spend some time focusing your attention on it. These redecorations do not have to be something very great. Usually, a simple clearing of surfaces, re-painting kitchen units (such as counters and working surfaces) and replacing handles will do the trick to make your kitchen more appealing and more valuable. If you fail to do so, your house will greatly depreciate, and it is very worth the while to spend some time redecorating the kitchen.
The pool is not something that you should bother with
While a pool is something that can be seen as a great thing for any house, this is actually not the case. Adding a pool outside your house is something that works only for the more expensive houses and is likely to put off all but the top-end buyers. If you are intending to attract average buyers to your home, the high-costs of maintaining a pool, as well as the costs of water that is required to fill it regularly will only work in the opposite direction. Average buyers are very cautious about the houses that they want to buy, since it is in everyone’s interest to save money in this harsh economic climate, instead of splashing cash all around. Leave the luxury to the celebrities and millionaires and think about normal investments for your home.
Redecorate and renew
When the potential buyer arrives at your house, the first thing that he or she sees will not be the beautiful design of your kitchen tiles or the intricacies of your study room. Instead, the first thing that the buyer lays his or her eyes on will be the outside of your house and your driveway. So, make sure that your driveway is clean, that your lawn is mown, and that your house’s paint job is fresh and done correctly. This does not mean that the paint job should stand out from the neighborhood; instead it should just be fresh and new. Invest in a new doorknob and repaint the interior. It is all about the first impression.
These advices and simple tips should be enough to help you attract those so much wanted buyers for the home. The buyers are hard to find nowadays, but with a few tricks and modifications, and a few simple investments, your house may just be the talking point of the real estate market.