You may think you know what a buyer wants, but are you really sure? What may be at the top of your priority list, might be way down on the must-have list for others.
Did you know that pool was the top most searched keyword nationally for house hunters on realestate.com.au? While it may not be a necessity for your family, it is certainly a high priority for many Australians looking to buy a home.
If you are based in NSW, it worth knowing that ‘waterfront’ came in second in the top terms after ‘pool’, followed by ‘granny flats’ and ‘garages’. While you cannot relocate your property to a more exclusive waterfront site, you can add a pool, a granny flat or a garage if you have the space, the time and the money. Victoria came up with slightly different results, showcasing ‘garage’ as the second most favoured search term after ‘pool’, followed by ‘courtyard’ in third place.
It seems that pools are somewhat of a prized possession in today’s economic climate and remain very much a national dream. While in the past, pools did not add much value to a property, the tides seem to have changed and pools are now more coveted and valuable than ever. But what type of pool is worth the investment? Believe it or not, saltwater is more often than not the preferred choice over chlorine. Each comes with a list of pros and cons, so weigh up the options before you invest. Adding a pool can add $30,000 to $60,000 to the value of your home.
The demand for granny flats has also risen in past years, and a granny flat valued at $120,000 could increase the value of your property equal to the amount of your investment, or even more.
While you may not necessarily want to add a pool, a granny flat or a garage, know that it may help your chances of selling your property, not to mention, increase your investment. However, if you don’t have this kind of capital lying around, don’t despair. There are other more cost-effective ways you can improve the value of the property that won’t cost an arm and a leg.
One of the first things you can do is declutter. Ideally, you want potential homeowners to be able to visualise themselves in your property. That is hard to do when it is full to the brim of odds and ends leaving you very little room to move. Get rid of it, or at the very least arrange some kind of storage unit to hold your gear until you move. Less truly is more when it comes to outfitting a home for a potential sale.
Once you have gotten rid of any excess furniture and belongings, consider giving your home a fresh coat of paint. Aim for neutral colours where possible although don’t be afraid to add a touch of colour to your front door. And while you are at it, fix those things that you have been meaning to repair. Replace the carpet, repair doorknobs, re-grout the tiles and position mirrors in a way to enlarge the space. Update the blinds and curtains on your windows and assess ways you can improve the lighting. Add plants and flowers to give it a wonderful homey feel. Look at your home from the perspective of a visitor and see what could be enhanced or improved.
As the kitchen is the most valuable room in your house, don’t be so quick to skip over the upgrades. Consider adding new doors to your kitchen cabinetry to update the look or spend a few dollars on plumbing or new white goods. While you may not recoup all the dollars you spend in the kitchen, it may ensure a quicker sale as large, clean kitchens are a priority for homeowners nationwide.
If it is your intention to sell your home quickly, then we don’t recommend leaving it to chance. Whether you are looking to add small upgrades in the home or attempt a pool, garage or granny flat enhancement, it is worth considering if you wish to get a top dollar price for your home.