7 Ways to Add Value to Your Property
Want to add value to your Property but not sure where to start? Whether you’re preparing to sell, improving your living space, or enhancing rental appeal, here are 7 ways guaranteed to add value.
1. Recladding
When your existing cladding has reached the end of it’s life span this provides an excellent opportunity to add value to your home. Rather than replace with the same, we recommend clients consider changing to a more modern alternative.
Living on the coast, we do a lot of this type of work and can recommend a new cladding based on your budget to increase your homes value. Finishing the job with a trending paint colour will completely transform not only the look of your home but also increase the value.
2. Fencing
Fencing is a great way to add value to your property and enhance its overall appeal. Whether you're looking to improve your home's security, privacy, or aesthetics, a well-designed fence can make a significant impact. Here are some of the ways that fencing can add value to your property.
Security: A fence around your property provides an extra layer of security. Whether your looking to keep your kids or pets in or intruders out, a fence gives you peace of mind.
Privacy: Fencing can provide privacy for your family and guests. If you have a backyard pool, a fence can also provide privacy while you’re swimming.
Aesthetics: A well-designed fence can enhance the overall appearance of your property. A fence can add a touch of charm and style to your yard, and can complement your home’s existing design and architecture. There are many different styles and materials to choose from, so you can choose a fence that fits your taste and budget.
Increased property value: Fencing can increase the value of your property, making it more attractive to potential buyers. A well-maintained and attractive fence can add curb appeal and increase the perceived value of your home.
Cost-effective: Fencing can be a cost-effective way to improve your property. We can advise on your best options weighing up cost and aesthetics.
Whether you’re looking to improve security, privacy, or aesthetics, a well-designed fence can have a significant impact on your home. So, if you’re looking to make an investment in your property.
3. Add a Deck
Outdoor living spaces that include a deck are a big draw for anyone looking to buy, rent or wanting a holiday rental . If you have a great view or need extra space for entertaining, a deck will be one of the best things you can do for your property.
One study estimates a deck can add up to $20,000 to the value of your property, another article in Stuff estimates you can increase your homes value by up to 30%.
Living on the Coast a deck also helps keep the sand out of your home, protecting your flooring and making it easier to keep clean. A well-designed deck will give you a great indoor-outdoor flow and increase your living space by providing a comfortable outdoor area for entertaining, relaxing, or simply enjoying the scenery. This extra space will make a home more spacious and livable, which is a major selling point for buyers, tenants and holiday makers.
We can design your deck to compliment your property’s style and your plans for the space. We will also advise on which materials are the most cost effective and aesthetic option for your outdoor space.
We can also help you plan and build a deck to meed the building code, without having to apply for council consent and incurring extra costs. We will guide you on the regulations regarding the size, height, and placement of your deck, as well as safety requirements and building codes.
Price will depend on the size of your deck and the material you use.
Adding a deck to your property can be a smart investment that adds value and improves the overall appearance and functionality of your home. With careful planning and attention to detail, a deck can provide you with a beautiful outdoor space to enjoy for many years to come.
4. Add an Extra Room
One of the most cost effective ways to increase the value of a home is by adding an extra room within your current floor plan. This is different to an extension which requires council consent, which whilst also being a good option to consider is more costly. This works well for older properties that haven’t optimised their layout and have dead spaces that could be easily converted.
How much will adding an extra room add value?
Typically, adding an extra room will increase the value of your property by at least $20,000. This is a great reason alone is a great reason to consider this option, whether you are looking to sell your home, or increase your equity. If it’s a rental property, you can expect to increase your rent by 15% because now you have a wider range of tenants to select from. A home with an additional room can provide more space for families, guests, or even a home office, making it a more desirable property for potential buyers or tenants.
Here are a 4 ways adding an extra room to your existing floor plan can increase your property's value:
Increased Square Footage
The first and most obvious benefit of adding an extra bedroom to your home is the increased square footage. More square footage means more living space, and more living space is always a desirable feature for buyers. Additionally, the extra square footage can also help you command a higher price for your property when you sell it.
More Flexibility
Another benefit of adding an extra bedroom to your home is the increased flexibility it provides. An extra bedroom can serve a variety of purposes, from a guest room to a home office, to a playroom for kids. This versatility is a major selling point for buyers and can add significant value to your property.
Increased Functionality
Along with providing more flexibility, an extra bedroom can also increase the functionality of your home. For example, if you have a growing family, an extra bedroom can provide the much-needed space for a child's room or a nursery. Similarly, if you're planning on hosting guests regularly, an extra bedroom will provide them with a comfortable and private space to stay.
Improved Resale Value
Finally, adding an extra bedroom to your home can greatly improve its resale value. A home with an additional bedroom is always in demand and can command a higher price on the real estate market. In fact, studies have shown that homes with an extra bedroom sell faster and for more money than homes without.
Adding an extra bedroom to your existing floor plan is a smart investment that can provide numerous benefits and increase the value of your home. Whether you're looking to sell your home soon or just want more living space, adding an extra bedroom is a wise choice that will pay off. If you want to explore this option, get in touch to see how we can help you add value.
5. Add a Cabin or Sleep-out
If your property is on the Coast you have a great opportunity to add value with a cabin or sleep out for when extra family and visitors come stay or if you’re considering starting an air b n b.
This relatively small investment can make a big impact, not only in terms of financial gain by adding an asset to your property, but also in terms of the functionality and comfort of your home.
This is a great option because you can now build a single storey, detached building up to 30m2 without having to obtain Council Consent. Limitations to this exemption include being unable to include bathroom or kitchen facilities. Don’t let these limitations deter you from considering this option because we can design and build your space so can add them at a later date, going through the council consent process at that time.
The great thing about an outdoor room is that you are also adding a separate asset to your property. You can sell the space at a later date, or take it with you if you move! We can design and build it with the options of adding services or moving it in future.
Here are 5 reasons why you should consider adding a sleep-out or cabin to your property:
Increased Living Space: A sleep-out or cabin can provide additional living space, making your home feel more spacious and comfortable. This can be especially useful if you have a growing family or if you frequently host guests.
Extra Income: You can rent out the sleep-out or cabin to generate extra income, which can offset the costs of the addition and potentially increase the overall value of your property. This can be especially lucrative if you live in a popular tourist destination like we do in the Coromandel.
Saleable Asset: The sleep-out or cabin can be seen as an asset in its own right, and can be sold separately from the main property if needed. This added flexibility can be appealing to potential buyers and renters, making your property more attractive in the market.
Increased Resale Value: By adding a sleep-out or cabin to your property, you are increasing the overall square footage of your home, which can increase its resale value. This can be a smart investment for the future, especially if you're planning to sell your home in the near future.
Enhanced Curb Appeal: A well-designed sleep-out or cabin can enhance the overall aesthetic of your property, making it more attractive to potential buyers and renters. This can help increase the perceived value of your home and make it stand out from the rest.
Increased Functionality: A sleep-out or cabin can serve many different purposes, such as a home office, a workout room, a studio, or a playroom for kids. This extra space can help make your home more functional and versatile, which can be attractive to potential buyers and renters.
If you are considering this option the work must be carried out or supervised by a Licensed Building Practitioner. The design must also comply with the technical requirements of the Building Code. We can help you with all that to ensure that what your new space does in fact come under the exemption and you can avoid the costs of obtaining council council consent before you start the project.
In conclusion, adding a sleep-out or cabin to your property can bring a number of benefits, including increased living space, extra income, increased resale value, enhanced curb appeal, and increased functionality. Whether you're looking to make a smart investment or just want to improve the comfort of your home, adding a sleep-out or cabin is definitely worth considering.
6. New Flooring
Replacing your flooring can add significant value to your property, making it a worthwhile investment. Whether you're looking to sell your home or just want to make some upgrades, new flooring can be a game-changer.
Why is flooring important? Because old, worn-out flooring can actually de-value your property! It detracts from the overall aesthetic making it less desirable. On the other hand new flooring makes your home feel new, clean and fresh.
Moreover, some types of flooring, such as carpet, can trap dirt and allergens. Changing to laminate can make your flooring easier to clean and maintain, especially where we live in the Coromandel with sand coming in from the beach.
Whether your looking to sell or find good tenants, new flooring can increases the value of your property, helping it sell faster for a higher price. A home with good quality flooring represents a lower maintenance cost and a higher level of comfort.
7. Fresh Paint
Whether you’re looking to paint your exterior, interior or both, painting is a cost effective way to update and add value to your property without major building works.
Here are the top 4 reasons why this is a great cost and time effective option to consider:
Improved Curb Appeal: A fresh coat of paint instantly gives your house a clean, polished look that will make it stand out. It can also make your house more attractive to potential buyers, as it will look well-maintained and up-to-date.
Clean and Fresh: A new coat of paint instantly makes your house look clean and fresh. It also helps to cover up any previous damage, discoloration or aging that might have been present.
Protection: Paint provides a protective layer to the exterior of your house, helping to protect it from weather elements and other factors that can cause damage. Especially in the Coromandel Peninsula, if your painting isn’t done properly you open your home up to rust and water damage.
Increased Resale Value: A house that looks well-maintained and updated is more likely to sell for a higher price, as buyers are more likely to be attracted to it and see it as a good investment.
It can be hard trying to figure out which colour to go with let alone what type of paint to use where! Do you go with gloss, semi gloss or a matte finish? Our expertise takes the stress out of your decisions, making the process simple and easy.
Painting your house is a low-cost and relatively quick project that can make a big impact on the overall value of your property. Whether you're planning to sell your house in the near future or just want to freshen it up, painting is a great option to consider.
Small Changes, Big Impact
From visual upgrades like paint and fencing to structural improvements like extra rooms and outdoor living spaces, these six strategies are practical ways to add value to your home. Thoughtful improvements not only increase market appeal but also enhance how you live in your space every day.
If you’re considering improvements and want guidance on what will add the most value to your property, get in touch to discuss your options.
