Yahoo Finance How $10 purchases could add thousands of dollars to your property value
The national property market is in the midst of a turnaround right now, with Sydney and Melbourne leading the way – and buyers and sellers alike are both coming out of hibernation.
So if you were thinking of putting your house on the market, there are some things you can do to bump up the value of your property.
And they don’t even need to break the bank, either: according to property agency Upside founder and property expert Adam Rigby, sprucing up your property can cost as little as a tenner – but can add thousands of dollars of value.
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Here are some small but effective DIY jobs you can do to maximise the final sale price:
1. New coat of paint
One of the quickest ways to give your house a make-over is a new paint-job that can brighten up a room and cover over any wear and tear. Stick to the basics: white, off-white or cream are your best bets.
Cost: $10 to $25 per square metre, which comes to $255 for an average Australian bedroom measuring 3m x 3m
Value: “No case is the same, but a good paint job could be what gets you over the line,” said Rigby.
2. New plants
For houses with harsher frontages, outdoor and indoor plants and flowers can take the edge off and make the house feel more fresh and modern, according to Rigby.
Cost: $10 to $200 per plant, depending on what you’re looking for
Value: “A correctly styled room can add tens of thousands in value,” said Rigby.
3. Make your backyard shine
A well-presented outdoor space can win over buyers, Rigby said. Though a major landscaping project could set you back thousands, there are still small touches here and there – such as mowing the lawn, trimming the hedges, and mulching garden beds – that you could add that could make a tangible difference.
Cost: $200 to $400 for a trailer-load of mulch delivery
Value: You could see a 7 per cent boost in value just by escalating your gardening efforts from ‘decent’ to ‘excellent’, said according to Rigby, while “good landscaping” can add up to 28 per cent to the property’s overall value.
4. Declutter
Prospective buyers need to be able to visualise themselves living in your home – and that means giving them the space to fill in the blanks with their own furniture and their belongings. To make your home feel more spacious and open, get rid of unnecessary items such as personal bric-a-brac, excessive picture frames, art, ornaments or even rugs to create an impression of space.
Cost: Free
Value: “A blank canvas home will leave space for the buyer to imagine themselves living there, adding thousands in value,” said Rigby.
5. Hang up mirrors
To go further in creating a sense of space in the house, try adding mirrors behind the sofa, on a shelf, behind a bed headboard, or in dark hallways to open up space.
Cost: $100 to $250
Value: A well-placed mirror can transform a room from dark, poky and windowless to a study or an extra bedroom – and add more than ten thousand dollars in value in the process, Rigby claimed.
6. Quick fixes to the trimmings
Look for things you can spruce up: can you replace the linen or the curtains? Repaint the cabinets, or purchase new knobs or handles? These small fixes don’t have to take long or cost a fortune.
Cost: From $100 for a new linen set to $4,000 for a kitchen cabinet respray
Value: A respray can give the kitchen a facelift, meaning prospective buyers’ perception can go from wanting to renovate the kitchen to thinking to thinking it looks new.
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