How to add commercial value to your Adelaide Hills home
If you own a house in the Adelaide Hills, one of the best ways to add commercial value to it if through incremental improvements.
We advise our clients and community to arrange a free property appraisal once a year. Know the value of your home in the all market conditions so you can invest in updates and see how those changes impact the expected price (if/when you go to sell).
Strategic renovations can increase the value of your home, help it stand out in a hot market, and unlock equity.
The rooms and renovations with the most impact
When it comes to home updates, the two most popular projects are the kitchen and bathroom. According to Aussie, kitchen renovations have the highest ROI, with bathroom improvements and updates to outdoor areas coming in second as the most popular renovation types.
You don’t have to invest in a full-scale professional makeover in these rooms, unless it’s required. Small tweaks, swaps and add-ons can make a big difference, aesthetically and functionally.
In the kitchen, you can:
- Replace or paint your cabinets and benchtops
- Update all fixtures, tapware and sink
- Install new big appliances such as dishwasher and wall ovens
- Switch to energy-saving options
- Buy a smart fridge.
In the bathroom:
- Update the floors
- Replace the sink, tapware and showerhead
- Paint your bathtub
- Replace the mirror and shower screen
- Install water-saving features.
Focus on pain points of the living spaces and see where you can make slight improvements. For example, if you have a water filter but it’s taking up too much space, can you install a Puratap or buy a fridge with a filter?
Put yourself in the shoes of a potential buyer. What ‘story’ or feeling does your house give off? Are all the features complementary or does it feel disconnected from room-to-room?
Instead of targeting a room, you could focus on features that buyers would check such as flooring, ceiling, and the overall layout. Make a wish-list of updates that you want to get through over the next few years.
This could include:
- Installing solar panels
- Extending an entertaining area
- Garden improvements
- Re-paving the carport
- Building a home office
- Installing security systems and automatic lighting
- Wine storage
- A fire pit
- A new shed.
You could even take it one step further and build a granny flat or consider a sub-division to rent out a portion of your property and generate a secondary income.
It’s best to talk to your Adelaide Hills real estate agent and finance broker to plan your major updates – to ensure every dollar you put into your home will improve its commercial value, when you do go to sell in the future.
Set up a time with our team to find out what the main selling features are for Adelaide Hills homes.