March 02, 2015
If you're putting your home on the market and looking for the most effective ways to add value and increase appeal, here's some ideas for a facelift that won't break the bank:
- Curb appeal - take a fresh look at the front of your home and see how it would look to a potential buyer. Is it appealing? Tidy? Shabby? In need to some TLC? Or are there a couple of little things that could make the world of difference? Some quick and simple ways to improve the curb appeal include painting the front door and fence, add some planter boxes or hanging pots of colour, tidy the pathway, trim hedges, keep lawn mowed and edges trimmed.
- Entertaining areas - do you have a great space for a dinner party or a BBQ? Do you have space for a deck? How functional is your back garden? Most buyers love the idea of entertaining - so if you can make it happen, create a space!
- Paint - Whether it's the inside or the outside, a fresh coat of paint will make the world of difference. Remember to keep it simple - the new buyer will want to put their own decorating stamp on your home, so now isn't the time to get creative. Keep your pallette fresh, clean and neutral and it will breath new life into your home.
- Flooring - If your carpets are stained arrange for them to be professionally cleaned, or if the budget allows, replace them. If floorboards are marked, a same and polish will make the world of difference.
- Storage - If you can create extra storage space, create it! Buyers love it!!
To fund your renovation, you have a couple of options besides digging into your savings:
- Mortgage offset account - if you've put extra money away into your offset account, this could be a great time to access those funds.
- Mortgage redraw facility - if you've made extra repayments over the term of your loan you can dip into these extra funds if you have this feature on your loan.
- Equity loan - if you've built equity in your property many lenders will allow you to borrow against the value of your property.