8 Tips to add value and increase equity
1-Can you easily add another bedroom, bathroom or car space? Bank valuers and prospective purchasers use these features as value / buying criteria. This is my top recommendation
2- Paint. A fresh coat in a neutral colour will brighten, freshen and modernise
3- Floors. Same concept as painting
4- Gardens. Adding greenery will soften up the feeling of an outdoor space adding appeal
5- Screening. Privacy is a box that many people will need to tick when looking to purchase. A bamboo hedge can make or break a sale on a busy road or next to a block of units
6- Light fittings, tap fittings, handles, blinds etc. These may be replaced by almost anyone who owns a screwdriver and is a very cheap and effective way of updating
7- Property styling. Whilst this does not physically change the property itself and may not effect a bank val, it will most of the time drastically improve the buyers ‘perceived value’ by creating a great modern and fresh feel throughout the home
8- Add a granny flat and increase the rental capacity. Granny Flat packs start from as low as $30,000 to buy and require council approval and the services of a builder or licensed carpenter to erect within a week or two. Fully finished, the costs are likely to be in the range of $50,000 to $100,000 depending on the size and style chosen but can result in hundreds of thousands of dollars being added to a property depending on the location. The addition of a granny flat can be the one thing that sets your property out against the rest and will result in a more saleable product that sells quicker than other conventional properties on the market.
I expect more steady growth to continue in the new year and into 2017.
Any questions or need help then please call us 02 9033 8616