- Can you easily add another bedroom, bathroom or car space? Bank valuers and prospective purchasers use these features as value / buying criteria and can’t increase the value of your propert expertentially. This is my top recommendation
- Paint. A fresh coat in a neutral colour will brighten, freshen and modernise
- Floors. Same concept as painting
- Gardens. Adding greenery will soften up the feeling of an outdoor space adding appeal
- Screening. Privacy is a box that many people will need to tick when looking to purchase. A bamboo hedge can make or break a sale on a busy road or next to a block of units
- Light fittings, tap fittings, handles, blinds etc. These may be replaced by almost anyone who owns a screwdriver and is a very cheap and effective way of updating
- Property styling. Whilst this does not physically change the property itself and may not effect a bank val, it will most of the time drastically improve the buyers ‘perceived value’ by creating a great modern and fresh feel throughout the home
- Add a granny flat and increase the rental capacity. Granny Flat packs start from as low as $30,000 to buy and require council approval and the services of a builder or licensed carpenter to erect within a week or two. Fully finished, the costs are likely to be in the range of $50,000 to $100,000 depending on the size and style chosen but can result in hundreds of thousands of dollars being added to a property depending on the location. The addition of a granny flat can be the one thing that sets your property out against the rest and will result in a more saleable product that sells quicker than other conventional properties on the market.
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Just I would like to more about renovating and adding a granny flat to increase the equity to than leveage and buy a investment property
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