Renovations that add value!
Melbourne’s property prices are now the country’s fastest growing, surpassing Sydney. According to a new report from ABC, CoreLogic RP Data figures for January reveal that Melbourne house prices increased by 2.5% compared to the 0.5% in Sydney. However, the region still falls behind when it comes to absolute cost.
“We’ve been seeing Sydney consistently drifting lower since about July last year, when values were rising at about 18 per cent per annum,” said CoreLogic RP Data’s research director Tim Lawless.
“Melbourne has also slowed down, but not quite as much… we can see that in a whole bunch of other indicators as well, auction clearance rates for example in Melbourne were consistently higher than what Sydney was over the second half of the year.”
When it comes to property investments, prices will make or break your home selling deals.
So how can you get the best price for your property?
We list some quick renovations ideas that can help add value to your property.
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Open floor plans to create space
Take down a non-structural wall or get rid of the kitchen island. Anything that creates a sense of flow or opens up space usually registers well for buyers. Open spaces appeals even to choosy buyers because they can transform the house to their preference.
As much as possible, opt for an open floor plan to attract as many prospects as possible. Most real estate brokers these days will tell you that buyers are big on spaces and so should you.
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External landscape appeal
They say first impressions count which is why you want to impress potential buyers before they have even walked through your doors.
Beware of external turn-off’s like unkempt bushes, tangled trees, blocked views and moldy corners. Keeping trees, bushes and plants in check are very important to the overall appeal of your house. Investing in some impressive landscaping can increase your return by several folds.
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Let there be light
Most home surveys revealed that lighting makes a big difference to the appeal of your house, as it can create that feel of space. Some parts of the house work alright with dim lights but most people prefer sun tubes and natural lighting. Remember, dim lights create moods but bright lights enliven a place. Other things you can do to light up the home include opening windows, fixing broken panes and installing lights with motion detectors.
Other important points: high wattage bulbs makes smaller spaces look bigger while soft lights warm empty spaces.
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