5 Improvements That Bring the Most ROI When Listing Houses for Sale in Rye

ByAria Tyler

When putting up their houses for sale in Rye, Tootgarook or Blairgowrie, many homeowners choose to make some targeted improvements and upgrades to boost the value of the property. But how do you know what parts of the house to invest your money in and what should be left untouched? Many homeowners make the mistake of overcapitalising on renovations, only to find that they don’t get as much return on their investment and may end up facing significant losses.

If you’re wondering whether adding a new pool to your coastal property or installing a backyard barbecue spot in place of your large garden is the way to go, let us talk about some of the home improvements that bring the most ROI when selling a house.

  • Kitchens

The kitchen is the heart of the home and has long been known as the one room in the house that truly sells it. If you’ve used up your entire budget to install a new pool but the kitchen has been left intact with old cabinetry, stained or broken countertops or outdated appliances, it can be very difficult for potential homebuyers to look past it.

At the same time, many homeowners also make the mistake of completely renovating their kitchens when it isn’t needed. Unless the kitchen has some major problems that need to be fixed, such as drainage or plumbing issues, broken or outdated appliances or fixtures or a pest infestation, making a few targeted upgrades can give you a better ROI. Consider repainting the timber, replacing tapware and lighting and laminating the cabinetry to a lighter colour to make the space look newer and more modern.

  • Bathrooms

Another space worth investing in are the bathrooms of the house. This is another space it is very easy to overcapitalise on and end up spending more than you can get back. Taking out any repairs that should be done before the house goes on the market, any renovations or upgrades you make to the house shouldn’t exceed more than 5% of the value of the house or you may be at risk of incurring losses on your sale.

You won’t believe the difference changing the lighting fixtures, getting brighter bulbs, new tapware and a more modern mirror can make in making a bathroom look newer and more appealing. However, if the rest of the house has been previously upgraded to suit a more contemporary setting but the bathrooms still look like they’re stuck in the last century, it might be a good idea to change the tiles and fixtures to fit in with the rest of the house.

  • Repaint

A simple repaint job can make a major difference in making your house look bigger, brighter and newer, especially if you choose neutral colours like grey, beige, white or cream. Many people choose to paint their house in colours that best appeal to them, and may have painted rainbows and cars on their children’s bedroom walls. While they may have worked for you, a potential homebuyer will only see another thing they’ll have to fix once they move into the house. The goal is to give your home buyers a blank canvas to help stimulate their imagination and consider living in the space and making it their own. Blank walls and neutral colours work best at achieving this goal.

  • Curb appeal

The very first thing a potential homebuyer is going to come across when they come over for an inspection is the exterior of the house. Don’t underestimate the importance of a nice exterior and let something as minor as an overgrown lawn affect your buyer’s opinion of your home! It won’t matter if you’ve recently renovated the entire house from the inside if the exterior of the house has peeling paint, broken gutters or roof tiles or dead or dying plants.

  • Outdoor areas

Although adding a pool to your property for the sole purpose of increasing its value may not work for many other suburbs, coastal suburbs like Rye and Tootgarook are an exception. A major charm of buying property in a coastal area for many homeowners is the appeal of living close to the water, and these people appreciate having their very own pool to take a dive in whenever they feel like it. In fact, it might even be expected of you to install a pool if you don’t have one and not having one might negatively impact the price of your property!

The one piece of advice we can give you is to reach out to experienced local real estate agents in Tootgarook or Rye before you proceed with making any major changes to your house. These people are working with homebuyers day in and day out and know what the average homebuyer in the area is looking for from their future home. Ask them to take a tour of your house and let you know what areas in the house need the most work and will be able to offer the most ROI as well as what you can hope to get for your property, both before and after the changes have been made.