Home Improvements that Bring The Most ROI When Putting Property for Sale in Reservoir

Selling a property is no easy task. You’ve invested hundreds of thousands of dollars in the property, and if it was your primary residence for a while, have made countless memories. Getting a good price for your property is at the top of any seller’s mind and they may consider putting in a significant amount of money into repairs and renovations in hopes of raising the value of the home. It can be a great idea to give your house a makeover before listing your property for sale in Reservoir, but knowing what improvements will bring the most ROI is not always easy.

Here is a short list of the improvements that will bring the most value to a home:

• Kitchens

You may have heard that it is the kitchens and bathrooms that sell the house. While this is true, it is not an invitation for you to completely blow out your budget with a major overhaul of these spaces. Unless there are significant plumbing or drainage issues, broken or outdated appliances or fixtures, minor upgrades to your kitchen can bring a significant increase in the value of the house. These include repainting the timber, replacing tapware and lighting and laminating the cabinetry to make the space look more modern. The kitchen is the heart of the home, and this is the space people will be paying the most attention to, but this is never an excuse to go all out on renovating the kitchen and neglecting the rest of the house.

• Bathrooms

Like the kitchen, the bathroom is another place people pay close attention to. It is very easy to over-capitalise in these spaces and end up spending more than you will get back. As a general rule, remember that any upgrades you make to the entire house should not exceed more than 5% of the value of the house or you’ll risk incurring losses on your sale.

If there are major plumbing or moisture problems in the bathrooms, it is almost always recommended to get these fixed prior to listing the house. But if you are only renovating for the sake of raising the value of the house, it is best to go for minor, targeted upgrades like fresh lighting, new tapware and fixtures and maybe a more modern mirror.

• Paint

A fresh coat of paint all around the house will make a world of difference! Over time, the paint in our houses can get faded and stained, whether due to the harsh Australian sun or just by use and a new coat of paint in a neutral colour like grey, white, beige or cream can bring the entire space to life again. Lighter colours have the added advantage of making a space look brighter and larger and opening up a space. Additionally, if you had painted your home a different colour for each room, now’s the time to make the house look like a cohesive whole with a new paint job. Buyers like to be able to imagine living in the space, and giving them a blank canvas to work with will almost always work in your favour.

• Curb appeal

Cracked, peeling paint, an unkempt yard, water pooling on the edges of the property or a house painted a bright, jarring colour can all deter a buyer before they even step inside the house. Many Reservoir real estate agents report that they have a much harder time selling houses that look too out of place in the neighbourhood or are painted a less popular colour. Moreover, the outside of your house is the first place a potential buyer will look at, and much of their first impression of the property will be based on it. Look around your neighbourhood and pick a colour that complements the other houses around your property and give it a new paintjob. Mowing the lawn, planting weather-friendly plants and flowers and sweeping up any dead leaves or debris are quick ways to improve the curb appeal of the house and pique the interest of more buyers.

• Outdoor areas

Don’t underestimate the role your outdoor spaces play in bringing up the value of your property! If you’re planning on selling your property during the warmer months and have a front or backyard, patio or porch, pay attention to how you can turn the space into an extension of your living space. People are likely going to be entertaining friends and family over the summer, and having an open space that is perfect for holding a barbecue and a covered space away from the direct sunlight is somehtign that will interest a lot of buyers. The goal is to help the buyer envision living and entertaining in your house, and giving them a cosy place to wind down with a beer after a long day of work will help in higher offers.

Before putting up a property for sale in Reservoir, get in touch with some Reservoir real estate agents to find out what buyers in the area are looking for, the improvements people in the area are making to their properties prior to selling and what you can hope to get from each improvement before you do it. These agents have insight into the property market and can help you get the best price for your home and save you from overcapitalising.