Whether you’re planning on simply updating the look of your home for you, or looking to sell, you’re no doubt wondering what renovations are the best value for money. Considering renovating can be quite costly, it’s important not to waste much needed funds on cosmetic projects that won’t add perform favourably for potential buyers or add value to your home. We take a look at renovations that add value to your home, and the estimated return on investment you can expect.
If you’re wondering ‘does a new kitchen add value’ and ‘how much value does a bathroom add?’, feel free to get in touch with one of our north Brisbane builders who can provide a quote and assessment.
Renovations that add value to your home
When it comes to renovations that add value to your home, a lick of fresh paint is a simple way to update the overall look of your home. Peeling paint or bold, bright colours, are unappealing to prospective buyers as it’s a clear sign that they’ll need to fork out money to fix it themselves. A new paint job can breathe much needed life into an old home and is a simple cosmetic way to make your home look brand new.
Does a new kitchen add value?
A kitchen is the heart of a home, so if your kitchen needs a refresh, it can end up pulling the entire look of the house down. Kitchen and bathroom renovations are the most common renovations when it comes to updating the look of your home, but usually require the most work as they serve as the primary functions of a household.
However, when it comes to renovations that add value to your home, a new kitchen is the number #1 driving power in a prospective buyer’s handbook. A well designed kitchen will give you a good return as a buyer likes to know that they can immediately move in without having to spend more money revamping a tired kitchen. Though you might be able to sell your home despite of a poorly designed kitchen, a renovated kitchen will no doubt be that extra cherry on top for prospective buyers who will be more willing to pay top dollar for a premium home – in fact, it’s estimated that a modern kitchen can add up to $60,000 to the value of your home.
Searching for renovations Brisbane? Get in touch for a chat about the best home improvements that add value today.
How much value does a new bathroom add?
Bathrooms are one of the most common renovation areas for two reasons – A). An outdated bathroom can quickly make an entire house look dated and B). An old bathroom can start to become a safety hazard with loose fitting fixtures and mould issues. When it comes to renovating a bathroom, it’s important to have a clear budget set in mind otherwise it can quickly become easy to splash money on bells and whistles – though features such as a claw foot tub are known to garner positive reactions from prospective buyers. Bathrooms are a room that most buyers expect to be kept up to date, so when it comes to renovations that add value to your home, a bathroom should be at the forefront. It’s estimated that an updated bathroom can expect returns of up to 70%.
We hope we’ve given you a good idea of the types of renovations that add value to your home. If you’d like to talk to an expert about the best home improvements to increase value, contact us for an assessment and quote.