Property Brokers A guide on how to add value to your home

ADD VALUE

A guide on how to add value to your home

Property Brokers Limited MREINZ Licensed under the REAA 2008

www.propertybrokers.co.nz

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This is a guide of how you can help to keep your property at the right end of the market, if and when you come to sell. The first bit of advice is also the most important.

If you are going to be in your home for a long period of time, live in a home that makes you happy. If you want your kids to have a swimming pool, put in a swimming pool. If you’re going to get years of enjoyment out of it, surely that is worth the cost.

This is not designed as a get rich guide for renovators or the magic formula for sellers. It is simply a few things we’ve learned over the years by selling more property in our patch than anyone else.

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Basics We tend to overlook ongoing ‘health checks’ with our homes but it is important to look after them as much, if not more so, than your other assets. Painting, landscaping, keeping your plumbing and drainage in good working order, as well as your electrics, are ongoing maintenance issues you inherit simply by owning a home.

Although individually they may not add value to your property every time you see to them, the cost to you by not doing them can be expensive later on. If these things are not well maintained, you may end up with a hefty bill for having to replace a roof, piles or your cladding. When you come to sell, buyers expect that the cladding, roof, foundations, plumbing and wiring will be in good working order. If they are not, they will deduct the value from any potential offer price.

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Paint The more often you update your paint, the fresher your home will feel and the better maintained your cladding will be. Paint your wood or cedar home every 4 to 7 years and other forms of cladding every 10 years. Most people in the past haven’t painted brick, but there are some nice examples of small cottages being whitewashed which look great.

Choosing a new colour for your exterior can create the feeling of a whole new home, and can be a fun exercise that turns into long term value. It can also be incredibly affordable and the house could end up looking the smartest place on the street. If you don’t have an eye for colour, or you are not a neat painter hire a professional, as nobody wants wobbly paint

lines and the ugly dribbles on the carpet.

It is also worth taking advice on your colour scheme, especially for your interior, as choosing the right colours can open up a space and make a dark room appear bigger. Choosing neutral paint colours ensures that the look does not date. If you decorate in current trends, such as using feature walls or vibrant patterns, you need to be prepared for those trends to change and adjust your home accordingly when it comes time to sell.

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Plumbing and wiring These are the two things home owners try to avoid, as you don’t see them and people assume repairs will be expensive, but it must be acknowledged what a great part safe wiring and water tight plumbing play in the comfort and safety in the people who live there.

In homes built before 1945, wiring is an issue for insurance companies and most are now requiring houses to be safely rewired and supported by an electrical certificate. Bite the bullet and rewire if you need to, it might not be as expensive as you would expect, and gives you the opportunity to put in extra power points as older homes often do not have enough.

You can also hide ugly television or other cables inside the walls.

Water damage can be very destructive. If pipes have deteriorated they need to be replaced or risk bursting or leaking which can lead to dampness. If the pipes are galvanised, get them checked for rust. Older pipes can also affect the speed and pressure of the water flow.

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Maintenance schedules You should record what has been done and when, plus any jobs that need to be addressed. It is more cost effective to keep up with maintenance than to let your home deteriorate, as long term damage will ultimately cost more.

Keeping a home washed down and window sills and doorways freshly painted will certainly help to keep the building structure looking good for years to come.

An annual project at the start of every summer can go a long way to keeping your home maintained, and you can get the whole family involved.

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Roofing Hammer down any nails that pop up as these gaps can let in moisture. Get your roof tiles sprayed annually as this increases the life of the product by stopping moss and lichen from building up which can attract extra water and encourage leaks, and it keeps your home looking fresh. Keep spouting clean and free of debris so the water can flow to the gutters and not pool on the ground and cause leaks.

Tree maintenance Removal of any trees that are overhanging will let more light into your home, reduces the amount of leaves that can clog guttering and removes the risk of a branch falling on the roof.

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Add a deck As Kiwis we love our outdoor living and a deck is a great spot to spend warm afternoons and evenings. If your home suits it, a deck can be a fantastic way to add value.

According to Remodeling Magazine’s “Remodeling Cost vs Value Report for 2007”, more than 85 percent of the cost of adding a wooden deck can be recouped when you sell your home, compared to 78 percent of remodeling a bathroom and 68 percent from the addition of a family room.

That’s the basics.

What now?

Ten or twenty years ago, tacking on a simple wooden structure was fine, but today’s homeowners crave outdoor living space and are looking for something a little more special than yesterday’s plain planks. So if you’re going to add a deck, take some time to come up with an interesting shape and consider adding enhancements such as built in benches or raised garden beds. Using higher grade materials for the flooring and railings will further enhance this addition and make it easier to maintain.

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Landscaping A good design can add significantly to the value of your home, sometimes as much as a new kitchen or bathroom. It’s amazing how a well landscaped garden can make you feel like you are in something of value.

Consider the outdoor setting that will suit your property. This could be either a more formal look (think geometrical shapes and straight lines) or, if your property backs on to lots of trees, a woodland look with natural paths and plenty of ground cover could be a better fit.

Keep in mind, that landscaping is more than greenery.

You should consider lighting, fences, rock features, statues and paths. Even if your current trees and plants are attractively laid out, they may still be greatly enhanced by things such as curving pathways, bench seating and a few well placed lights. Create an outdoor space that people will be happy to spend time in.

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More space and light Small, dark and cramped rooms are not welcoming, so a little light goes a long way. If your house has small rooms that block the flow of natural light, you may want to consider enlarging windows with french doors or removing some walls to open up your floor plan.

Open floor plans usually involve combining your kitchen, dining and living areas into one big space that suits a casual lifestyle. This makes a small house feel light and airy, giving the illusion of a larger living area.

Open rooms create an inviting atmosphere for entertaining, because you can cook and entertain guests at the same time. It’s also great for young families because it allows parents to work on dinner while keeping an eye on the youngsters.

If you’re not up for removing walls, widening doorways 15 to 30 centimetres will make a noticeable difference.

Adding on rooms and storage is also a big value booster. If you live in an older house that has small bedrooms, master bedrooms and bathrooms are also good additions to increase value.

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Street appeal

The outside of the house is what attracts potential buyers to take a look at the inside. If your house looks less than appealing from the street, chances are that some buyers will not even make it inside.

You have one chance at a first impression.

Repaving or sealing shabby driveways and walkways is a must, because these lead people to your front door. It needs to be welcoming.

Attractive, manicured front yard landscaping will impress. Drought tolerant plants and easy to care for perennials are a good option if you don’t have a green thumb.

Simple things are often overlooked amid today’s busy lifestyle.

Often these outside jobs are the last to be done on the to do list, where in reality these need to be one of the first, as plants can take years to gain that established look.

Make sure that your letterbox and street number are neat and tidy as well as the front door, as these are the first things people will see.

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If you are looking to sell...

Make a great first impression as you don’t get a second chance. Make sure the entrance to your home has lawns mowed, gardens tidy and paths free of weeds and debris. Make sure your front door area is fresh and clean.

Display the full value of your home Give your house a thorough spring clean and make sure it is absolutely tidy. People buy a house because of its ’feel’. Remember to show your garage and storage spaces to their full advantage by removing unnecessary clutter.

Bathrooms and kitchens sell homes Pay special attention to the cleanliness and repair of your bathroom and kitchen. Make these rooms sparkle. Hang clean, fresh towels on towel rails.

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Arrange rooms neatly

Pets

Put all clothes and belongings (especially valuables) away and remove excess furniture. Make beds with attractive bedding. Neat well ordered closets show that storage space is good.

Many people are sensitive to pets and pet odours.

Please keep pets and all pet paraphernalia out of the way and preferably out of the house.

Minor repairs make a big difference Dripping taps, faded walls or worn woodwork reduce appeal. Loose knobs, sticking doors and windows, warped drawers and minor flaws also detract from the value of your home. Have them fixed, otherwise when seeing these things that need attention, potential buyers begin to worry about the things they cannot see.

Stay out of the buyer’s way It is best that you are not present while your home is being shown. Potential buyers will then be more vocal about their feelings, which helps us to sell your home.

Let the sun shine in Display rooms in their best light by opening curtains to let people see how cheerful your home can be. Keep rooms warm. Dark, cold rooms are not appealing.

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