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Simple ways to increase valuation of home

Discussion in 'Renovation & Home Improvement' started by Phil_22, 31st Aug, 2015.

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  1. Phil_22

    Phil_22 Well-Known Member

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    Hi All,

    My GF and I are readying our house for a valuation to be able top pull some equity out.

    I'm looking for any simple things you may have done to increase the valuation of your property.

    Cheers,

    Phil
     
  2. Big Will

    Big Will Well-Known Member

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    Define simple and are you prepared to spend money?
     
  3. Phil_22

    Phil_22 Well-Known Member

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    Simple - not requiring tradies or experienced handyman work

    Money spend < $2K

    Essentially small things that can completed within a couple of weeks max.

     
  4. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

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    Resurface kitchen benchtops/cabinets, new handles, resurface bathroom tiles.
     
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  5. Redom

    Redom Mortgage Broker Business Member

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    Order a couple vals if you can and it suits, valuers have different opinions so you could get better results that way. Better yet, get different types of valuations done (desktop, etc).
     
  6. Phil_22

    Phil_22 Well-Known Member

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    Thanks yes I have had a desktop valuation done its quite promising.

    Issue is my lender (also my employer) wants to have a full walk through valuation carried out as per there lending policy.

    I'm a little worried that this may cause a reduction in the maximum valuation that I may be able to receive.

     
  7. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

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    Are you going above an 80% LVR?
     
  8. Big Will

    Big Will Well-Known Member

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    $2,000 isn't much but maybe look at gardening then, will increase the street appeal.
     
  9. Inov8ive

    Inov8ive Well-Known Member

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    Is your place a house or apartment?
    Anyway here are some good tips for you:
    1. Focus your attention to the front of the house and the entrance into your home. This is the first thing that buyers see and they make their mind up immediately on what they are in for. Kind of like getting a dodgey wedding invitation- you don't expect much from the wedding. Clean the garden up, add some nice plants, paint or replace your gutters, get your roof tiles painted and have the place looking as best as possible.
    2. You obviously can't increase the size of your house or land but you can create more storage space. Focus on adding additional storage space where there wouldn't of been before. i.e. Add built in wardrobes to the bedrooms, extend kitchen cabinets to the ceiling, add a linen cupboard, add garage storage. Storage is important to everyone and you can increase this without spending too much dosh.
    3. Kitchen and Bathroom are big ones, especially the kitchen. Kitchens sell homes, we cook everyday (some of us) and if you are going to splurge in any area it would be this one.
    4. Paint the place, do it yourself, its not that hard and it will make a big difference.
    5. Consider having your property styled for sale. This will cost a couple of grand but to be honest it may be the best money you ever invest. A designer will come out, assess your place and bring in some nice furniture and fittings to present your place in the best possible manner. A good company will definitely bring you more than their monies worth.
     
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  10. Phil_22

    Phil_22 Well-Known Member

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  11. Phil_22

    Phil_22 Well-Known Member

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    Yep Gardening out the front was something I was thinking

    Cheers,

    Phil
     
  12. Phil_22

    Phil_22 Well-Known Member

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    Thanks for the tips!

    It's a house.

    Cheers,

    Phil

     
  13. Big Will

    Big Will Well-Known Member

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    While I agree with a number of your points you clearly haven't read the thread or the OP question.

    They are looking at increasing a valuation not selling and have a budget of $2,000 so there goes point 3, 4, 5
     
  14. Inov8ive

    Inov8ive Well-Known Member

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    Geez calm down dude! I didnt read the entire thread, just the initial question. So sorry...!!
     
  15. Big Will

    Big Will Well-Known Member

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    Geez you also need to calm down...

    Where did it say he was selling on the first post, even the title talks about valuation.
     
  16. Inov8ive

    Inov8ive Well-Known Member

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    Ok got it- I slightly missed the point on selling vs valuation. I am sorry that I offended you so much with my incorrect response.
    Enjoy your day
     
  17. Big Will

    Big Will Well-Known Member

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    Thanks don't let it happen again.
     
  18. Chrispy

    Chrispy Well-Known Member Premium Member

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    I just upgraded a rental by putting modern stainless steel handles from Bunnings, on the kitchen cabinets and bathroom vanities. I went to a wholesale nursery and bought loads of mid sized plants and pine bark mulch. Made sure all the paths were swept and clean. It was let in a day!!!
     
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  19. Phil_22

    Phil_22 Well-Known Member

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    That's sensational thanks heaps

     
  20. LRS101

    LRS101 New Member

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    '
    Hi Phil, the best way to enhance your property without spending much is by cleaning and maintaining it. I recommend you feed your lawn and maybe topsoil it where it is uneven, and buy a cheap soaker hose from kmart or big w and put that on the grass for 30 mins every night up until the property evaluation.
    Hire a gurney to clean what you can (pathways, driveway, bricks etc).
    You should definitely weed your garden and prune it to make it neat, then as Chrispy said, mulch it...it gives it such a facelift!!
    What you can do on the inside of your home is steam clean the carpet with a machine you can hire (a britex from woolworths).
    Just in general make sure everything in and around the house is at its best potential.
    Good luck!!
     
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