3 Upgrades that add value to your property

3 Upgrades that add value to your property

Everyone knows that you need to make some minor improvements to your property before putting it on the market. Even though major renovations rarely provide the desired return on investment, there are some upgrades that are worth spending some money on.

The trick with property upgrades is to make sure they are done in the areas that have the potential to provide the best return on investment. Well thought out improvements often provide better returns than over the top, large scale renovations.

Potential buyers are looking for properties that are move-in-ready and require very little or no additional work, besides perhaps a fresh coat of paint and some minor repairs. Here are a few areas that are worth upgrading before selling:

1. Open-up living spaces
Small, dimly lit areas tend to have a negative impact on your home's overall appeal, which negatively impacts its potential value. An affordable way to create the illusion of space is by painting walls in light, neutral colours and adding ambient lighting to illuminate smaller spaces. Should you have the budget to do so, breaking through walls to open the living areas of your home and create more space can be hugely beneficial to the value of your property.

2. Create a home office
Nowadays, more and more people are opting to work from home, either full-time or after hours, because of this, a well-structured workspace has become a huge drawing card for property buyers. This doesn't mean you need to spend huge amounts of money on building on an office, be innovative with the spaces in your home and transform corners into a work area. Spending a small budget on setting up a creative workspace could potentially work in your favour and encourage buyers to put in an offer.

3. Upgrade your kitchen and bathroom
The state of a kitchen and bathroom are huge determining factors in whether people end up buying a house. The more modern these rooms, the greater the appeal of a property. A modernised kitchen and bathroom have a big impact on a property's sales price. That being said, you do not need to rip out the bathrooms and rework the entire kitchen, small, well thought out improvements to these rooms can make an equal impact.

Instead of redoing the entire bathroom, upgrade the fixtures and make a statement with a panel of patterned wall tile. In the kitchen add granite or marble countertops and install cupboard handles. These smaller upgrades cost less than a large renovation but can make all the difference to how quickly your property will sell and for how much.

A disruptive upgrade may be the last thing you feel like starting on a property when you are planning to sell, however, if it increases the value of your property, it will be well worth it.