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Renovate to add value

Spring 2010

Renovate to add value


If you’re looking to add value to your new home or investment property, renovation might be  the way to go. Fortunately, it doesn’t have to be expensive, time-consuming or labour-intensive either. In fact, real estate experts say that the one of the biggest mistakes new homeowners make is over-capitalising on expensive renovations. Go back to the basics to find affordable ways to make your home more appealing to prospective buyers. Here are five simple strategies that add value at a low cost.


Go eco-friendly

Eco-friendly has become a hot property buzzword as more people seek to be environmentally friendly and reduce their long-term power costs. Thanks to generous government rebates, going green has never been more affordable. Solutions worth looking into, which can attract cash-back incentives and add significant value and appeal to your property, include rainwater tanks, solar panel installation, hot water circulators, and dual-flush toilets.

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Make a great first impression

The first thing potential viewers see is the entrance to your home. This is a great place to focus renovation attention, as you can make a dramatic difference with relative ease. Simple things such as adding a new mailbox, placing pot plants around a door, painting the fence, trimming hedges, or replacing a ripped screen door, can all make a home look instantly more appealing. Fragrant trailing herbs or vines can also add immediate impact by appealing to multiple senses

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Kitchen makeover

In these Masterchef-obsessed times people are spending more time in the kitchen, so it often pays to expend effort on yours. While a full kitchen renovation can be costly, there are easy ways to make even an outdated kitchen a far more attractive, useable space. Consider installing new fixtures or sanding back and replacing an old workbench and cupboard doors. Glass splash backs are popular these days, but ceramic tiles cost a fraction of the price, as does frosted Perspex.

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Add storage

Whether it’s transforming an unused attic space into a proper storage room or installing bigger built-ins, adding storage is a wise renovation move. Storage space is a key thing both renters and buyers look for. It also has the added benefit of allowing you to hide more of your belongings away, making rooms appear larger and less cramped. Consider large vanities with cupboards and drawers in bathrooms, daybeds with storage underneath bay windows, cupboards under stairs, and loft spaces in garages.

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A lick of fresh paint

An oldie but a goodie. Don’t underestimate the power of a fresh coat of paint to give your space a new lease on life. Professional painting can be pricey, so consider if you can doing the job yourself or at least the preparation stage or finishing touches. There’s a good reason why renovation experts say that painting is one of the best ways to get bang for your buck. It can entirely change the feel of a house or apartment from old-fashioned to modern, particularly if you have dark rooms that can be made lighter and brighter. Clever use of colour accents on skirting or feature walls can also liven up a room dramatically or add a striking character.

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  • Important information
    The information in this newsletter has been prepared without taking account of the objectives, needs, financial and taxation situation of any particular individual. For that reason you should, before acting on the information, consider its appropriateness having regard to your own objectives, needs, financial and taxation situation and by considering the terms and conditions of any products mentioned and if necessary, by seeking appropriate professional advice.









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