There are many reasons to renovate your Sydney property, however knowing where to best spend your money can often be a guessing game. It’s clear that bathrooms and kitchens should be the first spaces on your list to be renovated. These are the two areas that sell homes, but what if these spaces are already updated? Where should you next spend your money to receive a good return on your investment?
1. Consider updating the flooring
Old, stained carpets or cracked tiles won’t do much to improve the value of your Sydney home. You can replace like with like and, obviously, you need to consider your own tastes. If you are renovating in preparation to sell however, you will receive the best return on your investment if you install hardwood floors. Buyers love hardwood floors, particularly if these floors flow throughout your home. It’s a big investment, but well worth it, as you will see a significant return on your investment. You can get away with replacing the flooring in just one or two main rooms, particularly if the floors in the remaining rooms are in good condition or have been recently replaced. Mosaic patterned tiles are also trending right now and are a good choice for both entry foyers and hallways.
2. Revamp your home’s curb appeal
Everyone knows that the curb appeal of their home makes the first big impact on buyers, so it pays to spend some of your renovation budget in this area. Always ensure that any exterior repairs are complete before placing your property on the market. These can include pointing, cleaning and painting the roof (if needed), repair or replacement of windows and repainting or staining any exterior timbers.
Front porches should be cleaned and any broken tiles replaced (a trendy renovation is to re-tile this area with beautiful mosaic patterns), and make sure that any potted plants in this entry way are healthy and attractive. Replace dead lawn, remove and replace dead plants, prune bushes and trees, and hide the garbage and recycling bins behind a privacy screen. Waterblast the drive and repair it if necessary, ensure that the garage door operates perfectly and any fences are in good condition. Exterior lighting is also something that might need updating, as this increases the security of your home and adds a certain ambiance to the curb appeal. In fact, it’s a good idea to walk across the road and critically examine your property’s curb appeal. Then you can decide what needs to be renovated to increase the equity in your property.
3. Critically examine your home’s fixtures
Lighting fixtures are one of the biggest disappointments in many homes, but this is where you can increase your property’s value very easily. If you have already updated the kitchen and bathrooms, then the lighting in these areas should already be on-trend. So spend some of your renovation budget on modern lighting fixtures in the hallways and other rooms. Make sure that the lighting you select is sympathetic to the interior design of your home, but also select a few high impact pieces for dramatic effect.
Light switches are also becoming a new design feature and it’s this type of attention to detail that makes your Sydney property stand head and shoulders above other similar properties. Fixtures also includes tapware, as well as cabinet door handles, but if you have already renovated your kitchen and bathrooms, these shouldn’t need changing. One area that is often overlooked is locks, specifically the entrance door locks (including the deadbolt) and internal passage door handles, all of which can show significant wear and tear over time. Updating these locks is a simple task that increases the value of your home.
4. Think about your home’s energy efficiency
Energy efficiency is a very trendy buzz-word that intrigues many buyers. It’s often one of the first questions asked by buyers, so it’s worth giving this feature due consideration. However, if your home is fairly old, you might not be able to greatly increase your home’s energy efficiency without spending a lot of money. So it might be worth discussing this topic with a professional who can give you tips on improving the energy efficiency of your home. These may include installing awnings to reduce the impact of direct sunlight inside your home, adding tints to east or west facing windows, installing solar panels, and replacing incandescent bulbs with LED alternatives.
5. Create an outdoor entertainment area
If you don’t already have an outdoor entertainment area that’s protected from the weather, this is an area where you will receive a good return on your investment. Pergolas or awnings are both good shade options, but you can also consider outdoor umbrellas and sails. Buyers of high-end properties in Sydney also expect an area for alfresco dining and another for lounging with friends over coffee or a glass of wine. If you have the space, other renovations that will increase your home’s value are an external kitchen and dedicated BBQ area.
Focusing on one or more of these five different areas in your home will help to significantly increase the equity in your Sydney property.
