With the housing market on a constant trend upwards in Australia, there is never a bad time to add some value to your property's price through residential home renovations. Even if you do not want to sell in the near future, many people think of these upgrades as an investment in their future for when they are ready to move. Plus, while you are in the house you reap the rewards of your new renovations and might even be inclined to go further with your renovating. Remember that you should always engage a professional contractor for any serious renovation; trying it on your own can be dangerous and you are likely to damage your house anyway.
Renovate a Floor in Your House so You Can Lease It Short- or Long-Term
By making a floor in your house fully self-sufficient with all the necessary rooms, including a small kitchen, bathroom, bedroom and lounge area, you can begin to start making some passive income on the side by leasing or renting this floor to holidaymakers or even to a long-term tenant. While this renovation might take a little bit of effort in the planning department, as long as you make sure your new layout is classy you will also add value to your house if you intend to sell it later on. This idea is not appropriate for everyone, but if you are a young couple or a single homeowner then this could be perfect for you. If you outgrow the space afterwards, you can then sell and upgrade.
Utilise Your Attic Space
Lots of Australians have quite high arching roofs that leave a lot of room between your top ceiling and the underside of your roof. This space is perfect for adding a spare bedroom, bathroom or even a study. Depending on where you want to add this room, there may not be that much structural work you need to do to make sure your room is properly supported, and you can move straight on to designing your room with your contractor. Adding another room in a previously "dead" space is a surefire way to add value to your home for very little money.
One thing that every potential homeowner loves to look for in a new house is storage. The more storage facilities you have, the more at-peace your potential future buyer will be when they inspect your home. Whether this storage facility is adding a walk-in wardrobe or even something as big as a small shed in your front yard, it all adds more value to your home. As with all renovations, the most important thing to keep in mind when maximising the potential value of your home is to make sure all your renovations integrate well with your original home's layout. Gaudy add-ons and badly tacked-on renovations can have the opposite effect on your property's value, so remember to discuss all your renovations thoroughly with your contractor and listen to any ideas they might have.Share