When it comes to home renovations and home improvement, not all money you spend will return the same value. Like a swimming pool may seem like a feature to one buyer or a deal breaker for another.
Here's what some experts had to say on which home improvements add value as reported in the Sydney Morning Herald recently:
Agents' opinion on added value: $40,000-$100,000.
The facade is often the first thing buyers see - either in advertising or in a drive-by. That's why improvements to it are among the biggest value-adds for your house.
The NSW manager of Archicentre, Angus Kell, says an external makeover might include decluttering and maintenance such as cleaning the roof, tidying the front garden and painting, can cost from $2000-$15,000, depending on the work involved.
"People gain confidence if a property looks well maintained," says a principal of the eastern suburbs agents GoodyerDonnelley, Debbie Donnelley. Renovations worth your while.
When the makeover also means less maintenance going forward for new buyers, that makes for good kerb appeal and good value. Some renovations will mean a bigger sale price on your home if you sell, while others will just cost you. If you're planning to stay in the home and you've bought well then a renovation and updating your home can bring rewards in how happy you are in the home and making the most of your space and how your home feels.
It's been said the best house to buy is the worst house in the street. When you buy that worst house in the street and suddenly it looks like a great house, then you have really turned your money into a great investment.
No comments:
Post a Comment