It goes without saying that every homeowner wants to see the valuation of their property go up. With no shortage of reports about rising property prices in New Zealand, you could be mistaken for thinking that all you need to do is sit back, relax, and leave it to the market to give your property’s price tag a nice boost.
However, while some homeowners may benefit from upward trends in the property sector, it’s certainly no guarantee. And even if you are one of those homeowners, you’ll need to take a proactive approach in order to get the highest property valuation possible.
By making some simple home improvements, you’ll be able to increase your property valuation by thousands. In some cases, you may be able to boost your home valuation by hundreds of thousands of dollars.
So what home improvements will help you achieve a meatier property valuation? We asked our real estate experts at AppraiseMe to share their best tips with us. Keep reading to discover what they are.
Mow Your Lawn
We know we’re being a bit cheeky with the title of this very first tip. It will take more than just a simple mow of your lawn to increase your property valuation by thousands. But it gets to the heart of what is regarded by many experts as the single most effective way to increase your property prices: landscaping.
Ultimately, you should aim for your outdoor areas to look well-maintained and inviting. In addition to mowing your lawn, landscaping can include deweeding, tidying up your garden beds, and planting flowers. You should also endeavour to fix anything that can be seen from street view, such as your fence, deck, letter box, and carport.
The reason that landscaping can have such a significant impact on your property valuation comes down to the fact that first impressions count. Along with the facade of your house, your front yard is the first thing potential buyers will see.
That’s not to say you can forget about your backyard, though! If you have one, you’ll need to do some work to get it looking as pristine as possible.
Give Your House the Marie Kondo Treatment
A bit of clutter here and there may seem innocuous enough. A pile of washing, an overstacked bookshelf, and a cupboard bursting at the seams never hurt anyone, right?
We hate to be the bearer of bad news, but clutter can damage your property valuation. It not only makes your home look disheveled, but it also makes it look smaller and more run down than it actually is. Remember, perception is everything when it comes to what buyers are willing to pay for your home.
The good news is that getting rid of clutter can help to boost your property valuation. If you’re worried about decluttering being a painful, drawn-out process, don’t. If you take a methodical approach, going room by room, you should be done in no time.
Invest in some good storage solutions and try to cull anything you don’t need. An effective temporary solution is to rent out a storage locker and stash excess stuff there (don’t worry, we won’t tell!).
The great thing with decluttering is that it will give you the space to add thoughtful additions to your home that will help to increase its valuation.
If you need some guidance on how to start, we recommend taking a read of this decluttering guide. Of course, if you have the time, you can also read up on tips from the queen of decluttering herself, Ms Marie Kondo!
A new layer of paint can do wonders for your property valuation. It can transform your home to look newer and more modern, make marks and scratches disappear, and improve the general ambiance of it.
One study showed that painting the exterior of a house can have a 51% return on investment for homeowners. But just like any other improvement you make to your home, painting your house is not a fooll-proof way to increase your property valuation.
For example, it’s vital to keep in mind that painting the exterior of a house is a very costly and time-consuming operation. It’s for this reason that we recommend taking the time to consider the pros and cons of doing so first.
And how about painting your interiors? Again, you need to consider the whole picture before you start. Will you paint the whole house, one room, or one wall? Will you hire a professional or DIY?
Another key consideration is your colour choice. Believe it or not, the colours you choose can increase your property valuation… or make it plummet. For example, kitchens that are painted red or other deeply saturated colors have been shown to decrease property valuation by thousands.
In short, make sure to do your research before you grab an old t-shirt and the nearest paint can!
Does your property have a mould problem? You’re not alone. In a survey conducted by Branz, mould was visible somewhere in the house in nearly half (49%) of all surveyed houses in New Zealand.
However, the prevalence of mould in the home shouldn’t warrant complacency on your part. It not only poses a health risk to inhabitants, but it can also reduce your property’s value.
We’re not talking by pocket change, either. Some property experts claim that mould can reduce a property’s value by a whopping 20%. Yes, you read that right: twenty-percent!
So how do you get rid of mould? It will depend on the type of mould you’re dealing with. Superficial mould can usually be removed with a DIY solution. But if you’re dealing with Stachybotrys, you’ll need to call in experts to get the damage assessed and removed.
If your mould problem is serious, check to see if you’re eligible to receive a Healthy Home Assessment funded by the Ministry of Health.
Even if you don’t have a mould problem, make sure to give your house a deep clean before getting a property valuation. Wiping, dusting, vacuuming, and scrubbing will allow your home to appear to be in its best state possible.
There you have it. A number of relatively straightforward tips from our experts that can give your property valuation a serious boost. While you may need to carve out days or even weeks out of your schedule to act on them, it’s a small price to pay for a large reward.
Have you managed to increase property valuation using one of the tips above? Or did you try something different that worked? Let us know in the comments below!
Written by Monica Mizzi