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The Money Makeover

Whether your are looking to sell or looking to buy, many people do not realise the hidden vaue in thier property from just a bit of effort rennovating. Not only can it add substantial value to the price of the property, but can also increase the rental amount as well.And rennovation doesn't have to cost the earth.  Here are some tips to help you identify what can add the most value to your property.

Many home owners do not realise a bit of elbow grease and a clean-up can add thousands of dollars in value to their home and make it a more enjoyable place to live, says Archicentre, the building advisory service of the Royal Australian Institute of Architects.

In fact, spending a little money in the right places can make a big impact when the time comes to sell up.

"Giving an un-renovated home a face lift on a shoestring budget by pulling up worn carpets and replacing with polished boards, repainting, fixing cracked windows or just cleaning up the front and back gardens of a property can add tens of thousands of dollars to the sale price", Robert Caulfield, Managing Director of Archicentre said this week.

"A simple repair audit around the home can be a good starting point by checking any areas which need repair and maintenance from room to room. This also provides a guide to be able to undertake the project in a strategic manner within the budget."

Mr Caulfield said that with housing affordability at its lowest for years, many people may not be able to take on a full scale renovation, but it is important that people maintain their home in good condition and maximise its liveability and potential sale price.

He added that it is important people consider their renovations carefully as sloppy work or the use of inappropriate materials can devalue the home.

The following are some of the main areas home owners can add value to their home cost effectively.

Patching cracks
Patch wall gaps and cracks, sand and fill with a flexible sealant. Be careful to colour-match the existing render or finish.

Repainting
A new coat of paint is the best value for money. Colours should always be neutral and elegant. As a highlight, a cement-based paint can provide a simple textured finish and additional visual presence to a feature wall.

Polishing floorboards
Floorboards are better than worn carpet. Pull up the carpet, sand and polish floorboards using an odour-free, oil-based stain. Seek the advice of a floor specialist before undertaking this project.

Decluttering
Keep surfaces clean and neat. Remove knick-knacks, souvenirs, children's artwork, sporting equipment, toys, scatter rugs, pet food bowls, baskets and scratching posts. A sparsely furnished layout equates to good living and rooms appear larger with less furniture.

Ambience
Decorate the interior with plants, vases or single feature sculptures. Burn a nice, subtle fragrance oil. Open the window to get a breeze going. Enjoy the serenity.

Pergolas
Sun-shading devices such as pergolas can make for a fine addition, particularly when covered in deciduous plants. They provide shade to windows, define outdoor living spaces and provide a simple but effective link between indoor and outdoor spaces. A big selling feature admired for their practicality and pleasantness.

Fencing
Fences can be cheap, but make sure the fence is compatible with the style of home. Picket fences can enhance a period-style home like an Edwardian or Victorian, but on a modern house they may be less appropriate. Repair any broken fence palings and straighten or replace any damaged fence posts.

Orientation
Show how a north-facing garden can flourish on a sunny day. Set up some well-oiled teak outdoor furniture (umbrella, table and chairs), barbecue and a sun lounge. The benefits will be obvious.

Vibrant Garden
A landscaped garden is like having an extra room. For maximum resale value, vendors look to create an attractive ambience by enhancing facades with carefully chosen vegetation. This is often a mixture of indigenous plants that require little watering and exotic plants as the highlights.

Consider some strategically placed pots of colourful plants to provide a splash of colour to the garden or highlight a deck area.

External cleaning and maintenance
Clean out guttering, and replace rusted sections. Check the condition of downpipes - replace worn rusty downpipes. Check the drainage points for downpipes - that they are not blocked and form water pooling when it rains.

Remove cobwebs from all walls, windows, window ledges and architraves. With a long cobweb broom remove all cobwebs from guttering and downpipes as well.

Clean all windows and glass doors inside and out so they are sparkling.

Outdoor lighting
Check that all outdoor lighting is working and replace any globes that may have blown. If you have garden lighting to enhance your garden at night check that all of these lights are working correctly. Consider installing security sensors that turn on exterior lights with a person's movement. These provide additional security and peace of mind to the occupants of the home.

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