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Home Upgrades to Increase Property Value: Expert Strategies for Maximising Your Investment

Increasing your property value is a crucial part of successful home ownership and property management. Whether your building or renovating, understanding what elements you should focus on to increase the value of your home over time, we offer some strategies to support this.

From boosting curb appeal to addressing essential upgrades, there are many ways to magnify your property’s value. Here are some tips that we feel invaluable to share to increase your property value:

Kitchen and Bathroom

The kitchen is the heart of any home.  But knowing what is important to spend the extra $$ on is challenging as we all want to feel comfort in our own kitchen whilst we tend to producing comforting foods. 

A quick and cost effective upgrade that packs a punch is tapwear.  Standard chrome finishes are perfectly acceptable, functional and cost effective, however changing the kitchen sink tap to a centrepiece draws the focus of the most discerning eye.  You may be surprised, but a beautiful gooseneck tap, which are trending at the moment, can start from as little as $150.  

But, couple a smart matt black tap with some updated black door handles (which can be easily replaced by the most challenged DIY’er) can take your kitchen to new heights at a fraction of the cost of replacing cabinetry and benchtops.

Making your Home Smart

Smart home devices help to automate day-to-day living and provide an added perk to your home which increases its monetary value quickly. Upgrading your property with modern technological features such as smart locks, thermostat, and lighting systems can boost your property value exceedingly.

Often, smart technology provide timers, schedules & energy monitoring.  Auto Off Timers, Automatic Schedules, and Energy Monitoring bring a new level of smart control for your existing lights, fans, blinds and appliances.  Thats right, you can retrofit these to your home!  At Thompsons’s we work closely with ZIMI, so take the time to explore their inclusions and options before your colour selection. You can view ZIMI smart tech at our Aura Display Home, the Keystone Entertainer.

Incorporate Sustainable Features

Eco-friendly and energy-efficient upgrades are becoming increasingly popular with homebuyers. Consider replacing conventional light bulbs with energy-efficient ones, fitting window hoods, and installing a superior insulation. It’s worth noting that sustainable features eventually lower your monthly energy bills, which will impact positively on the long term value of your home and reduce carbon footprint in return.

Transform Unutilised Spaces

Upgrading an unused space in your property can be a valuable tool in increasing home value. For instance, unused garage space can be transformed into a recreational room, home office, or gym.  Think more about space in front of you that could be easily changed into storage such as under stairs, excess space in hallways or even in your garage. Adding useable square metreage will consequently boost the market value of your home.  

Maximise Storage Space

Storage space is an essential factor that buyers consider when selecting a home. Upgrading storage spaces such as your closets, pantry, and laundry room can add value to your home. Consider upgrading with overhead cabinetry – check to plans to see if this is included and what additional cabinetry can be added.  Open timber look shelves in the laundry room or kitchen is a great cost effective option as well.

Improve Lighting

Effective lighting makes a house feel more spacious, friendly, and warm. Great lighting is a crucial selling point and a significant value booster. Consider adding light to dark spaces, installing dimmer switches, and adding new downlight pendants to highlight attractive architectural features or over kitchen benches. Natural light increases the appeal of your home, which translates to added value.

Upgrade Flooring

Flooring is an essential element that defines the quality of a home.  Increasing your homes appeal with a hybrid finish or a larger tile can make a big difference and significantly elevate your property value.  If you are short on cash, stick to upgrading your flooring in the bathrooms and wet areas only.  These smaller spaces can have an impact and provide a luxurious feel. 

Bathrooms

Bathrooms take a hit when it comes to regular use.  With the constant run of steam, water use, toothpaste and water marks, you want to make this space feel as luxurious as possible together with durability.  There are a couple of items we would always suggest for your bathroom to stand the test of time and still look a million bucks.  

Floor to ceiling tiles protects the walls from water marks and can save you hundreds in re-paint costs and mould.  Quality tap and shower fixtures are a great start, but consider the luxury touches such as a rain head shower, a niche for storage or even a seat built into the shower space.  If floor to ceiling tiles is out of your budget, then consider a feature tiled wall in the shower, or even just the neiche.  These few items leave a lasting impression to future buyers. 

Lastly, lighting is everything when it comes to bathrooms.  Think about the window spaces, air flow and additional lighting.  It is far easier to adjust these before we start building then to add them in after the frame and fixouts are complete. We all have personal preferences when it comes to bathroom lighting, so follow your gut. 

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