How to add value to an older property
Even though Australian housing prices are on the rise, a seller can’t rest on their laurels and just hope for the best when it comes time to put their house on the property market.
Whether you want to increase your property’s value for resale now or in the future, there are plenty of ways you can add value to it, even if it’s a little on the older side.
Here are our top picks for adding value to an older property:
Create space
Often, older houses have narrow walkways and frames, and can appear quite cramped. People love a flowing, open plan space, so achieve this by removing a non-structural wall to open up a living room and kitchen space, or to combine two smaller bedrooms into a larger living area.
Let the light in
Things were different when older houses were built.Most older houses are darker due to smaller windows and less of them. Letting more light into a space not only warms up the atmosphere and mood, but also leads to a positive environmental impact by decreasing the need for lights on during the day.
You could make these changes by removing old windows and replacing them with larger ones, and also by installing skylights into the roof in particularly dark spots.
Landscape the outdoors
As we all know, the outside of a property provides the first impression of a property. Make it count by sprucing up the garden and lawn area of your property. Regular maintenance will mean it stays decent for longer, and will always look presentable. Achieve this by keeping lawns mowed, bushes pruned back and, where possible, try to have plants and flowers that are inviting and bright.
Repaint it
Painting can be of benefit to both the exterior and interior of the house. The interior will come alive with a fresh coat of off-white paint, and the exterior of the house could be repainted, or rendered to give a modern aesthetic. When updating your interior walls, you might want to consider updating your light switches as well. Swapping them out for fresh white, or even a metal finish, can give a fresh contemporary effect.
Look to the floor
Flooring in older properties can be quite outdated and off-putting to buyers. By spending a little on new, modern carpet, tiles or hardwood, you will reap the rewards with an instant impression.
Perform simple renovations
Making some small changes in the main areas such as the kitchen and bathroom can really add value to a property. Swapping frosted shower glass to clear, upgrading taps and the faucet, removing stains and mould, painting the cupboards and walls, and updating tiles and curtains can do wonders for these rooms, especially if you don’t have the ability to do a complete renovation.
Don’t risk it
It can be a good idea to look at fixing, changing, or removing any features of the house that are completely strange to our modern day. Things like wacky wallpaper, or a broken back deck, will automatically make people question the entire house. Try not to leave anything to chance, as you’re trying to appeal to a broad spectrum of people.
Subdivide
Having an older property can sometimes mean you are sitting on a nice big piece of land as well. An option to really add value to your overall land mass is to consider subdividing your block. It’s a more complex idea, but it can also be more lucrative, which would end up giving you more funds to give your current, older property a nice makeover.
Make it a home
People buy homes, not houses, so when you are showing your property for sale, make sure it presents in a warm and welcoming way. If you’re not confident with your own furniture and decor, rent furniture to help your potential buyers picture themselves living there.
To learn more about increasing your property’s value, contact CPS Property today.
