Adding value to your home
Updated: Jul 6
If you want to increase the price of your home, then I have a few simple ideas here. Ask yourself why you are needing to add value to your house. Are you planning on re financing and want the additional assets? Looking to sell and want maximum return? Or just to enhance your home and take on new project? As knowing why, you are doing it helps you decided how big a project you want it to be to get the outcome you are after. Now… how do you do it? Firstly, assess your budget. Generally, this is first on your mind when commencing a project. But it’s easier said than done. See what finances you can spare for the job and start getting quotes to see if what you are expecting to spend will meet your expectations. I have a helpful renovation budget plan available, just get in touch. The most common ways of adding value are listed here: OPEN PLAN Knocking down walls and creating an open plan home changes the feel of the space. Keep in mind that when a space is more open it can take more time to heat or cool. Try and keep some ‘flow’ between rooms so you aren’t just knocking down walls without the floor plan in mind. EXTRA ROOMS Adding extra rooms can be done by moving internal walls, extending to your home, or enclosing an outdoor space. Each way of adding rooms has different costs to consider and you need to way up which would be best suited for you and the approval process behind it. Look up what the costs of homes are going for in the area that have that additional room so you get an understanding of how much it may increase the value. The additional room extension is usually a bedroom as increased bedroom numbers adds dollars, but if you are designing for yourself, the extra room may be a man cave or crafting space for example. SEPERATE ACCOMODATION By this I mean adding an area where someone else can live and not disturb the main living environment. Invester's see this as an opportunity to rent our two living spaces or its simply likeable if you have a large family. Is your space big enough to divide the main home, such as you living upstairs while you rent out downstairs? OUTDOOR LIVING
An increase of desire for these spaces occurred during covid restrictions. Mostly because we were stuck indoors, learning to work from home or teaching the kids. an outdoor addition isn't just doing up the garden. You may be looking at entertaining, dining, kitchen, or lounge. Having it under cover is a bonus but many more design requirements come into play with these extensions. Well that's a wrap. The best way is to have someone else walk through the space and help inspire you with what suits your needs and budget. Good luck!!