Find out what renovations can add the most value.
Smart Renovations Add Value
When selling your home, every dollar spent on renovations can either be a smart investment or an unnecessary cost. Knowing where to direct your renovation budget can greatly impact both the speed of the sale and the final sale price. Here are the areas that have shown to deliver strong results in the Western Suburbs of Brisbane:
Sustainability For Long Term Gains
The real estate market is increasingly favouring homes with sustainable features. According to Domain.com.au, sustainable homes not only sell quicker but also for significantly more—up to $125,000 more in value. One of the most impactful sustainable upgrades you can make is installing solar panels. While the initial cost of solar panels can be around $15,000, the return on investment is substantial. Not only do solar panels increase the overall value of the property, they also heighten buyer interest. Many prospective buyers are willing to pay a premium for homes with solar panels, knowing they will save on future electricity expenses.
Enhance Your Home’s Curb Appeal
First impressions matter, and for many potential buyers, the exterior of your home sets the stage for their entire viewing experience. Curb appeal is critical—buyers often drive by a property before deciding to schedule a viewing. Simple, cost-effective upgrades such as mowing the lawn, trimming hedges, planting gardens, and painting the front door can make a world of difference. According to a study by home research firm Zillow, enhancing curb appeal can add up to 17% to your home’s value. This is an impressive increase that can be achieved for as little as $1,000 to $5,000, depending on the extent of the changes
Add a Pool for Family Appeal
In certain markets, particularly family-friendly suburbs like the Western Suburbs of Brisbane, a pool can be a highly desirable feature.
“Domain research estimates that having a pool can add around 11.5% to a home’s value.” — domain.com.au
The search term “pool” is one of the highest on real estate platforms in Brisbane, indicating strong demand. Installing a pool, especially one between 2.4 and 3.5 meters in size, typically costs between $50,000 and $60,000. This investment can be particularly advantageous in areas with a high concentration of families looking to settle near good schools.
Ensure a Comfortable Living Environment
In warmer climates, air conditioning is not just a luxury; it’s a necessity. While adding air conditioning may not significantly boost your home’s value, it is essential for maintaining buyer interest. Homes lacking adequate cooling systems can deter potential buyers, reducing the pool of interested parties. Ensure your home has fans and air conditioning systems throughout to meet this basic requirement and maintain competitive appeal.
Plan Your Renovation with Expert Help
If you’re contemplating selling your home and want to make the most of your renovation budget, consider consulting with specialists in the trade that you require. The Hauss team can help guide homeowners on how to best capitalise on their property’s potential. Reach out to us today, and let’s start the conversation on how to optimise your home’s value when it comes time to sell.
