How Can I Increase My Home Value?

What Is Actually Worth Improving Before You Spend the Money?

One of the questions homeowners regularly ask me is "How can I increase my home value?"

It's a good question, but I think there's an even more important question to ask first:

Will the money I spend actually give me a worthwhile return?

Improving a property and increasing its value aren't necessarily the same thing.

You can spend a considerable amount making your home more beautiful, more comfortable or better suited to the way you live without necessarily adding the same amount to its eventual selling price.

If you're improving your home because you're going to enjoy those changes for the next ten years, that's one thing.

If you're spending money specifically because you're planning to sell, I look at it very differently.

1. Start With Maintenance Before Improvements

Before thinking about a new kitchen, bathroom or expensive renovation, I'd start with the basics.

Is anything broken?

Does the property need painting?

Are there leaking taps, damaged fencing, cracked tiles, tired flooring or neglected gardens?

Maintenance doesn't necessarily add value to your home. Often it simply prevents buyers from discounting the property because of work they think they'll need to do.

That's an important distinction.

Buyers can also have a habit of mentally multiplying the cost of repairs. A relatively minor problem can become a much bigger concern once they start wondering what else might be wrong.

2. Street Appeal Matters

The front of your property creates the first impression, both online and when buyers arrive.

That doesn't mean you need expensive landscaping.

Sometimes mowing the lawn, trimming gardens, pressure cleaning, improving the entrance, painting the front door or replacing tired exterior fittings can make an enormous difference to how the property presents.

I look for the things that make a buyer think "this home has been looked after" before they've even walked through the door.

3. Paint Can Give You a Lot for Your Money

Painting is one improvement I regularly consider because it can completely change how fresh and well maintained a property feels.

But I wouldn't automatically paint the entire house.

If the existing paintwork is in excellent condition and the colours work well, there may be absolutely no reason to spend the money.

If rooms are very dark, heavily marked or painted in colours that are likely to dominate buyers' attention, painting may be worthwhile.

The decision should be based on the individual property, not a checklist saying every home needs repainting before sale.

4. Kitchens Can Add Appeal, But Be Careful

Kitchens are important to buyers, which is exactly why homeowners can be tempted to spend too much on them before selling.

Sometimes a complete renovation makes sense.

Sometimes changing handles, lighting, tapware or a benchtop, repairing cabinetry and giving everything a thorough clean can achieve what you need for considerably less.

And sometimes the best decision is to leave the kitchen alone.

If you spend $40,000 replacing a perfectly functional kitchen and buyers only perceive the property as being worth $20,000 more, you haven't improved your financial position.

The aim isn't to create the kitchen you would choose.

It's to decide whether doing anything to the existing kitchen is likely to improve the overall selling outcome.

5. The Same Applies to Bathrooms

Bathrooms can certainly influence buyer appeal.

Cleanliness, good lighting, functional fittings and a fresh presentation matter.

But again, there's a huge difference between improving a tired bathroom and completely replacing one that buyers would have been perfectly happy with.

Regrouting, replacing old silicone, updating a vanity, changing tapware or improving lighting may sometimes be enough.

I wouldn't automatically rip everything out simply because the bathroom isn't brand new.

6. Storage Can Make a Home More Functional

Good storage is something buyers notice, particularly in family homes.

Built-in wardrobes, linen storage, pantry space and sensible kitchen storage can improve the functionality of a property.

But even here, I would look at cost versus benefit.

Before building additional cabinetry, sometimes simply decluttering existing cupboards and removing excess furniture makes buyers realise there's more storage than they initially thought.

We've already looked at this in more detail in my Increase Your Home Storage article, because sometimes the solution isn't actually creating more storage. It's making better use of what you already have.

7. Light Can Completely Change Buyer Perception

Dark homes can feel smaller.

Before considering major structural work, I'd look at simple things first.

Are heavy curtains blocking natural light?

Are trees or shrubs covering windows?

Are the light fittings dated or inadequate?

Would changing a dark wall colour make the room feel brighter?

Could furniture placement be making the space feel closed in?

Improving light and the feeling of space doesn't necessarily require an expensive renovation.

8. Outdoor Living Can Be Particularly Important in Queensland

Here in Queensland, our outdoor areas can effectively become another living space.

A usable patio, deck or entertaining area can be very appealing to buyers, particularly when it connects well with the kitchen or living areas.

But I'd still apply the same rule.

Don't automatically build an enormous outdoor entertaining area because someone has told you it will increase your home's value.

Look at the property.

Look at the likely buyers.

Look at what's normal for comparable homes in the area.

Then decide whether the investment makes sense.

9. Floorplan and Functionality Can Matter More Than Finishes

Sometimes the biggest issue with a property isn't how it looks.

It's how it works.

An awkward layout, lack of storage, poor connection between living areas or an underused room may affect buyer appeal more than the age of the benchtops.

In some homes, changing the way existing space is used can make a much bigger difference than installing expensive finishes.

But structural changes can become costly very quickly, so this is an area where I would want a clear reason for making the change before spending the money.

10. Don't Assume Expensive Features Automatically Add Value

Swimming pools, home automation, media rooms, elaborate landscaping, premium appliances and luxury finishes may all appeal to particular buyers.

That doesn't mean you'll automatically recover what you spend on them.

A feature can:

increase market value,

increase buyer appeal,

or simply increase your enjoyment of the property.

Those are three different outcomes.

All three can be worthwhile, but it's important to know which one you're actually paying for.

11. Look at What Buyers in Your Market Expect

What adds value to one property may make very little difference to another.

A home needs to be considered within its location, price range and likely buyer market.

If virtually every comparable family home has two bathrooms and yours has one, adding another bathroom may deserve consideration.

If every comparable property already has similar features to yours, spending heavily to add more may not produce the return you're expecting.

This is why generic lists of "10 renovations that add value" can be misleading.

Your property isn't generic.

12. Sometimes the Best Improvement Is No Improvement

This is the part I wish more homeowners considered.

You don't always need to renovate before selling.

I've seen perfectly good homes where the owner could easily have spent tens of thousands of dollars making changes that weren't necessary.

Sometimes buyers would rather purchase the property at the appropriate price and make their own choices afterwards.

If you're considering significant work because you want to increase your home value, getting advice before spending the money can help you avoid improvements that may not deliver the return you're expecting.

Through Property Improvement Advisors, I provide independent advice on the improvements you're considering, what appears worthwhile, what may be unnecessary and where your money may be better spent, without the pressure of being encouraged to sell your property.

So, How Can I Increase My Home Value?

There isn't one improvement I can tell every homeowner to make.

I'd start by looking at:

What does the property genuinely need?

What will buyers in this market value?

What will the improvement cost?

What difference is it realistically likely to make?

And are you improving the property for yourself or specifically for resale?

If you're planning to sell, the goal isn't to spend the most money.

It's to spend money where it has the best chance of improving your overall result.

Sometimes that means renovating.

Sometimes it means making a handful of relatively inexpensive changes.

And sometimes the smartest decision is to leave the property exactly as it is and keep your money in your pocket.