How home improvements can help your property stand out when selling

If you're about to put your home on the market, you might want to consider what improvements would help your home stand out from the rest.

Well planned expenditure on improvements can help boost the sale price of your home, but it's important to make sure the value of your home isn't tied up in the land. If it is, any significant money you spend could be wasteful in the long run.

If you're looking to enhance the appeal of your home, expenditure will generally fall into one of the following two categories.

1. General maintenance

General maintenance for home improvements includes things like;

• re-painting your home
• landscaping your front and back yards
• replacing worn fittings on things like water heaters
• adding plants to your gardens to enhance their appeal
• replacing tiles, shower screens, mirrors and tap fittings in bathrooms

General maintenance expenditures like these are relatively easy and cost effective and can lift the value of a home, particularly if the results are obvious.

Other attractions for potential buyers that require only modest expenditure include;

• air-conditioning in some or all rooms
• nice looking paving
• a lock-up garage
• reticulation throughout the garden
• a rainwater tank
• well placed data points around the house.

Examples of more expensive expenditure that you might consider if your budget allows, would be things like new bench tops, tap fittings and adding splash backs to the kitchen.

2. Structural change

The other category of home improvement expenditure is structural change to the home or major earthworks in the yard.

The key to achieving a higher resale price with structural change is to spend money on work that will increase the number of potential purchasers.

This might include;

• extensions to the home, like adding additional bedrooms and bathrooms
• a quality alfresco and entertaining area
• installing a swimming pool

If you're consider making structural changes to your home prior to selling, be aware that your selling price may not necessarily cover the cost of major expenditure.

Before commencing major structural change, speak to your local REIWA agent for advice on what improvements are likely to increase the market value of your property.