If there ’ s still a budget left over , consider upgrading security features and improving comfortable and easy-tomaintain outdoor spaces , as this will pay off with local buyers . Another big selling point currently is solar power and electricity backup systems , but these are expensive and often make better financial sense if you plan on living in the home for a while before you sell .
WHAT UPGRADES ADD NO VALUE ? On the flip side , there are some home ‘ improvements ’ that add very little monetary value to the home , or even worse , may put some buyers off entirely : Swimming pools : Bond originator ooba Group found that the average increase to value in property from installing a pool is only 15 % and that many prospective buyers would rather not carry the burden of pool maintenance costs .
Q2 .
Niche high-end upgrades : Wine cellars , gyms and cinema rooms may appeal to some buyers , but these luxury upgrades aren ’ t to everyone ’ s tastes . These kinds of upgrades cost a lot of money and often don ’ t increase value substantially unless the rest of the house is similarly high-end .
CAN I DO IT MYSELF ?
Attempting ambitious home improvement projects like a kitchen or bathroom remodel
Q3 .
without any expert training should be avoided . It ’ s often more cost-effective to use a qualified contractor from the start instead of having to pay someone extra to fix the DIY problems .
SA Real Estate Investor Magazine AUGUST 2022 99