Home renovations hit a 14-year high according to Master Builders Australia, but which are the ones that will make you money?

Here are some areas to look at renovating if you’re looking to add value to your home:

1. Fix structural problems

Yes, we know structural renovations are costly, but if there are structural problems with a property, the chances are a potential buyer will at best negotiate you down on the price, and at worst, walk away. So check the roof, walls and look for rising damp or mould.

It might be worth getting a pest inspection done and spraying for termites too.

2. Update the plumbing or wiring

Replace old fuse boxes and if the house does need some rewiring, it might be worth looking into updating the lighting, adding fans and extra power points.

3. Repair superficial defects

Once the major work has been addressed, look at the superficial defects. Common defects which put buyers off include peeling paint, dripping taps, mouldy sealants in the kitchen and bathroom and cupboards which don’t close.

4. Fix the exterior

If you don’t have a dedicated area already, look at making at least one area dedicated to outdoor living. This is a major drawcard these days. It might be worth investing in some decking and the outdoor entertaining area can be nicely framed with a set table, an open umbrella and the BBQ uncovered. Your aim is to have buyers imagining hosting their friends and family.

Now is the time to replace ripped fly screens too!

5. Apply for planning

If your property is suitable, obtaining planning consent for improvements, from an extension, to a new house in the garden, can enhance the value of a property, even if the work is not carried out.

6. Create more storage space

Plenty of storage space is very attractive to potential buyers these days, so make use of every bit of spare space you can find, by either building shelves or fitting doors to create cupboards. You may not think there is storage space, but once you start looking, you realise the concealed nooks in corridors, understairs space and dead space either side of fireplaces or at the end of hallways can in fact be made into great cupboards.

Can the space beneath the bath, alongside cisterns, or above the sink be used?

7. Cosmetic upgrades

If your budget really doesn’t allow for any major upgrades, then making the property look good is a must. For instance, paint throughout in neutral shades, declutter, clean windows and stage the house with carefully placed lights and welcoming flowers.

Don’t forget the curbside appeal too. First impressions do count, so tidy up the garden, de-cobweb the exterior walls and give the front door a fresh lick of paint.

If you’re wanting more ideas of how to maintain and prepare your home for profit, simply text the word “Profit” to 0416 906 799 to instantly receive our helpful Checklist and Profit Plan.

As one of Newcastle’s longest established real estate offices, we know property. Whether it is from an investment or homeowner’s point of view, we’re always looking at innovative ways to help you get the best from your asset.

Drop into the Cardiff office or give us a call on 02 4954 8833. Or send us an email to: mail@apnewcastle.com.au – we’d love to hear from you.

And don’t forget to check out our Facebook page for handy tips on selling your property or what to look for when buying a property.