Selling a property is one of the most difficult tasks you will ever have to do. This is not a decision people come to easily, especially if the property being sold has been their home for years. The most important thing for anyone listing their property for sale in Thomastown is getting a good price for it and hopefully making a profit. You may have heard friends and family say that in order to get the best price for your house, you need to invest in remodels and renovations. While certain improvements may be a necessary part of selling a house, others may end up losing you money! Here is your quick guide to the home improvements that bring the most ROI when selling property:
- Kitchens
Also known as ‘the heart of a home’, the kitchen is one place buyers are likely to pay close attention to when inspecting a property. A kitchen that looks like it hasn’t seen a paintbrush since the 1950s, is fitted with old, outdated cabinetry and tapware, or has many energy-intensive built-in appliances might be screaming for a remodel. But most kitchens do not actually need a complete overhaul to freshen things up. A quick paint job, re-laminating old cabinetry, changing beat up counters and switching old fixtures and lighting to more modern ones can help you easily raise the value of your house without overcapitalising.
- Bathrooms
The second part of the house that most homebuyers pay close attention to, an unappealing bathroom can be an instant turn-off and may deter a buyer from even looking at the rest of the home. If your bathroom was last renovated in the 1980s and is covered in pink and green tiles, it might be time for an upgrade. Most people today prefer the minimalistic style, and a neutral colour serves the double purpose of making your space look brighter and larger. Change any old, broken fixtures to more modern ones, but don’t go overboard on “trendy” styles. It’s best to keep these spaces as neutral as possible so your buyers have a blank canvas to work with.
- Curb appeal
Cracking, peeling paint, broken windows and gutters, missing roof tiles and an unkempt yard all signal to a buyer all the work they’ll have to do on the property after moving in. A new front door, a fresh coat of paint, fixing your roof, planting seasonal plants and flowers, new trim and fencing and maybe a new letterbox can all raise the curb appeal of your house and make it look more attractive to buyers. The facade of the house is what buyers will see first, and is where you want to make the best first impression.
- Repaint
You won’t believe the difference a fresh coat of paint both inside and outside the house can make! It is one of the cheapest and easiest way of opening up a space and making it look new, especially if you choose neutral colours like cream, beige, white or grey. Repainting can also hide stuff like your child’s crayon drawings on the wall, bedrooms painted in different colours for different children or focal walls in bright colours. You want to give your buyers a space that they can imagine living in and customising as they see fit, and neutral paint is the best way of achieving this.
- Outdoor spaces
While this is true all through the year, paying attention to your outdoor spaces during the warmer months will offer a significant return on investment. If you have a large backyard or patio, consider turning it into a lounging space that buyers can envision entertaining friends and family in. Most buyers have backyard barbecues on their mind when buying houses during the summer, and will look at outdoor spaces that are an extension of the living area favourably. Ideally, the outdoor area should be an all-weather space, with some shaded area for the family to kick back and relax with a beer after a long day at work even when they are not entertaining.
- Extra bedroom
Converting an attic or a basement will greatly increase the resale value of a home. Extra bedroom space is always appreciated by buyers, and research has shown that houses with more bedrooms sell for more on average. However, this depends largely upon the type of properties surrounding yours as well as the size of your own house. For a small house with only one bathroom, adding another bedroom on top of three existing ones will not get you the ROI you were expecting, but a larger house with spacious living and dining areas and at least two bathrooms will see an incredible surge in their property’s value by adding another room.
Before investing a large sum of money into renovating your house or adding a fourth bedroom, get in touch with some real estate agents in Thomastown. Not only will they be able to provide more insight into the layouts of houses surrounding yours, but they will also know what buyers in the area are looking for and willing to pay more money for. A local agent who knows the community and people is often your best bet at making the right, targeted renovations for the highest ROI.
