There are 8.4 million home owners in Australia. And according to Roy Morgan Research, last year around 64 per cent of them renovated their properties in some way.
It’s clear that us Aussies love to get stuck in and make the changes that we want to improve our homes, whether it’s to increase its value or purely because we want to. But what are the best options when it comes to renovating? Let’s have a look at a few of our favourites to both increase your home’s liveability and its resale value.
INSTALLING A NEW DECK
Summer’s well and truly in swing ladies and gentleman. Western Australia’s enjoying temperatures in the high 30s, and even Sydney and Melbourne are getting up there. There’s no better place to be when the sun’s beating down than reclining on an expansive and newly built deck (except perhaps a pool in a resort, but bear with us).
Property analyst Michael Matusik chatted with ABC News last year revealing what he believed are the renovations that will add the most value. Near the top of the list was a large covered deck – so you’ve got a great excuse to get stuck in and build one yourself (or leave it to the tradies of course).
PAINTING INSIDE AND OUT
When selling your home its street appeal and first impression are essential. One of the easiest ways to improve your home’s appeal is to apply a lick of paint, inside or out (or both if it’s needed).
Australians homeowners must be aware of this fact, as last year according to Roy Morgan almost half of them did some painting around the home. It’s a fairly easy and cost effective way to quickly improve the look of your home.
EXTENDING AND EXPANDING
If you’re really serious about adding value to your home, adding extra space is one thing that will certainly work if it’s done right.
However, it’s important to be careful when extending because (as you can imagine) it can be a fairly costly exercise.
ServiceSeeking estimates the rough price of extensions at over $25,000, depending of course on the complexity and size of the project.
Before putting up that kind of investment, be absolutely sure that you know what you’re doing and that the benefits are going to outweigh the cost.
CREATING AN OUTDOOR ENTERTAINMENT AREA
When the sky’s blue and the weathers warm there are few things better than entertaining friends and family in a fully equipped outdoor entertainment area. We’re talking in-built barbeque, perhaps a lap pool and sun shades for the extra-hot days. If that’s a little out of your budget’s reach, outdoor furniture and a little landscaping could make all the difference.
Michael Matusik identified this as a renovation that could add value, plus it’ll certainly add plenty of enjoyment for you and your family.
MODERNISING KITCHENS AND BATHROOMS
It’s widely know that kitchen and bathroom updates are amongst the renovations that can add the most value and liveability to your abode. The kitchen is essential for many buyers, as well as to your enjoyment of your home, particularly if you fancy yourself a bit of a chef.
It’s not cheap though. Jarrod from Yates Construction spoke to ServiceSeeking, quoting the average price for a full kitchen renovation at between $18,000 and $28,000. The cost of this undertaking makes it extremely important to pick tradesman wisely and to be sure a new kitchen is worth the cost.
Whatever your home renovation needs are, funding them could be easier with the help of a local mortgage broker. Get your finance sorted quick and easy, and you could be on your way to entertaining on your brand new deck before you know it.