5 Easy Ways to Add Value to Your Home

Presumably, if you want to sell your house, you’ll be looking into ways to add value to your home through remodelling or renovating. Before you start making any alterations to the structure of your home, you’ll need to take some time to effectively plan out your strategy beforehand.

Of course, there are some decisions that will be preferable to others and not every upgrade requires a large financial investment to begin with. However, almost all of them – regardless of size – require patience and accuracy if they are to increase your home’s estimated value.

 

General Considerations to Keep in Mind

If you aim to increase curb appeal, you may find that your home attracts more buyers. When this happens, just understand that what they are really interested in is the interior of the home and its potential. While any cosmetic upgrades you make will ultimately impact your ROI, that doesn’t mean a $30,000 kitchen renovation will improve the value of a $300,000 home.

In fact, according to the 2013 Houzz and Home survey, there are a few improvements that if implemented correctly are statistically likely to appeal to a broader audience. With that in mind, let’s discuss the easiest ways to increase the value of your property.

 

1. Remodel the Kitchen or Bathroom

These are the two rooms in the home that affect and determine whether or not a potential buyer will make an offer. Generally speaking, if you are only going to renovate a single room on the property, make sure it is either one of these two rooms – preferably both.

It can be as simple as repainting the walls in a modern color palette, installing new cabinets or retiling the floor – in which case you may require the help of a skilled professional. However, it doesn’t have to be a big undertaking.

 

2. Add to the Atmosphere With an Accent Wall

In some cases you may not have a lot of room to work with and it might be more important for you to work with what you already have. Specifically, you can turn a wall into a feature or accent wall with a simple splash of color.

Ensure that the color palette you choose compliments the permanents in the room, such as the carpeting, and aim for something that will reduce or eliminate any potential owner’s desire to repaint it.

 

3. DIY Projects Everyone Can Do

Not everything you need to do to your home involves arduous renovations or remodelling. You can actually carry out a few small DIY home improvement projects using relatively accessible equipment.

These are mainly maintenance-related concerns, but to prospective buyers, any work done to improve fixtures and foundations can have an immediate and positive effect on the home’s value.

 

4. Incorporate Energy-Efficient Fixtures

Decorative yet functional ceiling fans can be a beautiful thing. The same can be said of lighting fixtures and those final touches that might not seem like much at first, but really help to bring a room together in a modern and sophisticated way.

Upgrading fixtures and installing energy-saving light bulbs – or better still, installing solar power –serves to create a functional aesthetic. It can also reduce bills and will most assuredly increase your property’s value.

 

5. Low-Maintenance Garden Landscaping

Do not neglect the exterior of your home, as garden maintenance can be a real issue for some. Deciding to implement hardscaping as a way to improve the versatility of your home’s outdoor living areas is a sure-fire way to improve the overall worth of your home.

Thinking green and purchasing native flora is a great way to push the aesthetic – and value – just that little bit further.

Ultimately, everything depends on how much value you’re hoping to add to your home and what budget you have to work with. While this will fluctuate from person to person, undertaking these smaller projects will be well worth your time in addition to being well worth the financial investment.

Why install Energy Efficient Appliances?

It doesn’t matter if you’re building a new home in the Whitsundays or renovating, you should maximise the opportunity buy installing energy efficient appliances throughout your home. It’s true that there will be a larger upfront cost for energy efficient appliances; however you will likely make your money back over the life time of the appliance.

Below is an example from SaveEnergySaveMoney.com.au the annual running cost of two common appliances is compared:

Firstly let’s look at clothes dryers, there are 3 main types:

  1. Heat Pump Dryers – a type of condenser dryer which are considered the most energy efficient of the three. They work in a similar way to the condenser dryer.
  2. Condenser Dryers –these extract the moisture from the wet clothes and drain it off which prevents the need for ventilation as with the vented clothes dryers.
  3. Vented clothes dryers – are the most common dryer and are usually the cheapest to buy. They work by blowing hot air over the clothes, creating moisture which makes these suitable for use in rooms with a window or extraction fan. If you decide to go with this option and are using an extraction fan the energy used to power the extraction fan needs to be taken into consideration when calculating the annual running cost.

Below you can see that the most energy efficient appliance is the heat pump dryer, there is a larger upfront cost to purchase the dryer however you will save on your energy bills for years to come. In the below example you can save up to 65% on your drying energy bills by purchasing the more energy efficient model.

saveenergysave money 1

Annual running cost is based on 52 drying cycles

 Looking at the number of energy stars an appliance has will give you an indication of how efficient an appliance is, look at the below example from the Save Energy Save Money website:

The first appliance has 3 stars and is the most energy efficient and the third appliance has 2 stars which makes it the least energy efficient in this example.

The most energy efficient dishwasher is going to cost you and extra $95 to purchase upfront than the least energy efficient. However it will cost you $29 less per year to run, which means it would only take you just over 3 years to make this money back in running costs.

If the average appliance lasts around 8 years you will actually save yourself $138 over the life of the appliance.

saveenergysavemoney2

Based on 365 wash cycles per year

Perhaps a simpler way to look at it would be to work out the lifetime cost of the appliance, which is simply the cost of the appliance + (annual running cost x 8).

In the 1st example the lifetime cost would be $1093.12

In the 2nd example the lifetime cost would be $1138.99

In the 3rd example the lifetime cost would be $1237.12

Imagine doing this with all your appliances think how much you could save on your energy bills.

Julie Moore director of Save Energy Save Money

 

Top Money Saving Tips for New Builds and Renovations

Building a New Home in Airlie Beach?

Read on for our Top Money Saving Tips

Building a new home or undertaking extensive renovations is a costly venture. Without all-encompassing planning expenses can spiral out of control very easily, leaving the owner in financial difficulty and causing a whole heap of stress. Here are some tips on reducing the cost of a new build or renovation, without compromising on build quality.

1. The Plot

money saving tips

If buying a plot of land to build upon consider three things; sharing the plot, purchasing a less desirable location and purchasing a ‘problem plot’.

  • Purchasing a larger plot with a family member then splitting the land can save money and enable buyers to choose their neighbours. Large plots in prime locations may not be available in smaller land sections, so buying with a family member or close friend can open up options and save money.
  • Do not discount ‘problem plots’, such as sloping land, narrow plots or ‘fill-in’ property, these are not so desirable, so can be bought at a lesser price. Always be wary and consult an experienced Airlie Beach builder if buying an awkward plot as construction costs can increase for difficult land.

2. The Materials

There are a few ways to save money on building materials, both during construction and during the life of the building.

  • Use construction materials which are durable and have little maintenance requirements. Although these may cost more initially, the extra outlay will be recouped in the long run. Metal sheet roofing and vinyl siding are good examples of these materials, ask your experienced Airlie Beach home builder for materials to suit your construction plans.
  • Salvaging used materials is a great way to save money on materials; brick, statement wooden doors, even windows can all be re-used and can make a huge difference to the budget projections.

3. The Designhome design

Getting the design of a new home is tricky, but is well worth getting right.

  • When designing a new home it tempting to only think about the here and now, but designing for the future will save costly renovations further down the line. Think about possible future residents, their needs and design requirements and try to accommodate this from the start.
  • Do not design a home to outstrip the neighbourhood; this will constrain the value of the home. Value will be deducted from the home due to the lesser dwellings around it. Similarly, don’t buy a plot in a very affluent area if intending to build a lesser property as you could come into conflict with planners and local residents.
  • Design the home with standard construction components in mind as anything that has to be created bespoke will add cost. For example, roof trusses are commonly manufactured to 32 feet or less in length, so keeps sizes within this to buy off the shelf.
  • Many home builders offer a catalogue of designs to choose from, taking one of these designs and customising it is less expensive than designing from scratch. Take a look at the Lockwood catalogue for inspiration.

4. The Team

Choosing the right builder can make all the difference to the success of a construction project. An experienced builder will cost more than a novice, but the experience of a highly qualified builder is well worth the extra outlay.

  • Experience is the key to getting what you want, when you want it at the agreed price. Always employ an experienced builder for all new home and renovation projects. Check references, qualifications and always follow your gut instinct.
  • Draw up a clear contract which details all the work and materials, do not settle for lesser materials or construction techniques once the contract has been agreed.
  • Do not agree to the commencement of work until you are 100% happy with every aspect of the design, changing your mind is costly.

To discuss a building project in the Whitsunday area, talk to Brian of Allenbuild, the experienced Airlie Beach home builder who will set your construction project on the road to success.