As a homeowner, your property is one of your most valuable assets. By doing small, consistent updates over the course of home ownership, you can increase the value of your house.
If the day comes when you want to sell real estate, you could make more on your initial investment. Sounds great, right? But when should you start updating your home to stay current? There are a lot of factors to consider, but this article is a great place to start.
The booming renovations industry
If you're interested in doing some updates and renovations around your home, you are not alone. Statista projects that major home renovation work in Australia will increase by almost 2% in the 2025 fiscal year. This means that more people are interested in capitalising on their current assets by improving their property.
Despite the economic impacts that were brought on by the beginning of the pandemic, homeowners were still interested in home improvements in 2021. In March of that year, the monthly value of approved home renovations reached $1.14 billion according to the Sydney Morning Herald.
Where do you start?
Even if you aren't quite sure if you are ready to do a big home renovation project, small improvements can make a difference in the end. Here are some great examples that can update your place with little commitment:
A coat of paint can go a long way. If it has been a while since the walls of your home have seen an open paint can, it may be time to consider a little freshening up. This applies to both the interior and exterior of the structure.
Updating your front or back yard can make the world of difference and could even be done yourself. Take a look at your current landscaping and scout out a good place to get started. This can mean reseeding the lawn or adding some flower beds to increase curb appeal.
A simple way to update your home visually is through its fixtures. These are things like lights, ceiling fans, window treatments and other permanent decorations. Open a modern home magazine or website and compare your current fixtures with more updated ones to see if there are some changes that you could make. This kind of home improvement can be done slowly when you have the time and money to devote to it.
Increasing home value
Remodeling and renovations can help you see a higher return on investment through one of your biggest assets: your home. Even if you don't want to start right away, it can be a good idea to start planning and saving now.
Are you ready to move or list your house? Ray White Surfers Paradise is here to help.