How can I increase my property's value?

It's always a good idea to maximise your property's value, particulary if you know that a valuation is imminent.  This is not just when you're selling your home.  You will likely need a valuation on your property if you're refinancing (moving mortgage to a new lender) or increasing your loan (eg to fund renovations).  

Your property's location will be a key determinant of it's value; here are some other factors you can influence...put you best foot forward!

How can I increase my house value?

  1. Think about a renovation or extending the floor area of the house. Can you add a bathroom, bedroom or entertaining area? What about improving your indoor-outdoor flow?
  2. Make sure the property is well presented. Can you tidy up the garden or remove any untidy trees or structures? Are their any views that can be taken advantage of or can you make vehicle access easier?
  3. Give your important rooms – the bathroom and kitchen – a mini makeover. It can often be fairly cost effective to update cabinetry, the bench top, light fittings and fixtures. Even a quick lick of paint can do wonders!
  4. Do you have covered areas for vehicles? Can you add a carport or garage?
  5. Give your property a general tidy up. If your block and house are neat and tidy and look well maintained, it is likely to benefit the valuation.

 

On inspection day, make sure you a demonstrating any features (eg running the pool's fountain, have the heating/aircon on, and of course grind or brew some coffee for a delicious smell).  Communicate "invisible" features, such as water tanks or solar panels.  A fancy car parked in the driveway doesn't seem to hurt either.

Here's the link to a realestate.com article, which I have adapted above.

Cheers, Marvin 

Posted in: Home loans

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