So what are five renovation tasks you might consider, that will increase your property value? A wall-to-wall fish tank? Mirrors on the bedroom ceiling? Backyard micro-brewery? Read on to find out more.
New outdoor areaWithout a doubt, a nice outdoor area lends itself to entertaining, enjoying the outdoors and lazy Sunday afternoons. It could be a veranda, patio or new undercover area that will add tremendous value and liveability to your home. Perfectly paved or boarded, well lit and ventilated with décor to match - imagine the returns a new outdoor area will bring to the value of your property.
KitchenRegardless if you’re living in the property or simply renting it out, a new kitchen will likely add both monetary and lifestyle benefits to your property. Just picture yourself in a new kitchen – gleaming stone bench-tops, stainless appliances, enough room in the morning for your coffee and your paper! A new kitchen can command an increase both rental returns and property value.
Living / Media RoomA living and media room is simply a must when considering renovations. The quality of home theatre systems these days is truly amazing. You’ll find most new homes have a media room (or at least, separate TV room) with an integrated screen and sound system. It’s truly an inexpensive way to increase the value of your property whilst giving you an opportunity to watch Star Wars in full 5.1 stereo!
Dual living opportunitiesRegardless of where you live, there’s always someone looking for cheaper rental accommodation options. Many two-storey homes (or even homes on larger blocks that are suitable for a granny-flat) offer prime dual-living opportunities. Dual living not only increases the value of your property, but the rental income you receive in many cases more than covers any increase in lending you may incur in undertaking this project.
House extensionsIf you’re in the perfect street in the perfect neighbourhood but have a house that’s just too small, why move? Consider a home extension. It could be extending up, out or even underneath. An extension adds live, value and liveability to a place you already love, allowing you and your growing family to enjoy it for many, many more years to come.
Have you completed any renovation projects recently? Did it all go well, or do you have a disaster story? Perhaps you’ve done lots of renovations and have your own ‘top five’ tips you’d like to share. Jot your thoughts in the comments, below.