When we think about what makes a house feel like home, it's more than just the walls and roof or how many rooms it has. It's the style, the neighbourhood, and yes, even the colour of the kitchen. Over the years, we’ve moved on from some... interesting design choices (goodbye, orange and green kitchens of the 60s!). But as our homes age, they often need a bit more love to keep them feeling fresh and valuable.
Renovating can be a big part of this. Whether you’re repainting, updating your kitchen, or adding an extension, making changes to your home won’t only make it nicer to live in but can also bump up its value. This is especially true if you're fixing up an older home where things might be starting to fall apart.
Remember how house styles change over the years? What was cool in the 60s looks pretty out-of-date now. But it’s not just about style – older homes need fixing up to stay in good shape. Whether it’s a fresh coat of paint or a big makeover, fixing up your place can make it worth more and nicer to live in.
Want to see how renovations can really pay off? Learn more about kitchen renovations to boost equity and ways to increase your property value through bathroom renovations.
In Victoria, particularly around Melbourne, both new housing developments and smart renovations are key players in property value trends. Adding modern touches to an older home, like updating kitchens and bathrooms, or even extending living spaces, can significantly lift a property's appeal and value, especially if it complements new local amenities like better roads, parks, or schools. However, oversupply from too many new builds without enough buyers can dampen this effect.
Sydney's varied landscape sees property values influenced by both new constructions and thoughtful renovations. In sought-after areas like the Eastern Suburbs or Northern Beaches, renovating to enhance outdoor living spaces or improve natural light can greatly increase a property’s attractiveness and value. Conversely, areas crowded with new developments without adequate infrastructure can see a stagnation in property growth.
The Queensland property market, with its allure of coastlines and warm weather, responds well to developments and renovations that embrace the outdoor lifestyle. In Brisbane and the Gold Coast, adding decks or upgrading to open-plan living can capitalise on the climate, boosting property values. But, as with other states, an excess of new developments without enough demand can lead to a surplus of properties, potentially decreasing values.
Adelaide's market grows with both new developments and renovations that add value to the community. Renovating homes to improve energy efficiency or to modernise layouts can attract buyers looking for sustainable and contemporary living, driving up property values. The balance of supply and demand remains crucial to maintaining positive growth.
In Western Australia, especially Perth, properties benefit from developments and renovations that highlight the region's natural beauty. Upgrading homes with large windows or outdoor entertaining areas can enhance the appeal of living close to nature, positively impacting property values. The key is ensuring that the pace of new home construction matches buyer interest.
Tasmania’s property values thrive on developments and renovations that preserve its unique character while offering modern conveniences. Renovations that respect the original architecture but incorporate modern features, like updated heating systems or revamped interiors, can help increase a property’s market value, enhancing Tasmania’s appeal as a place that blends tradition with modern living.
In the Northern Territory, Darwin's property values are shaped by developments and renovations that suit the local lifestyle and climate. For instance, adding outdoor living spaces or improving indoor-outdoor flow can make properties more attractive and valuable, reflecting the desire for homes that cater to the warm climate and relaxed lifestyle.
Deciding what to renovate requires a balance between personal taste and market demand. Here’s how to make informed choices:
Not all changes need to be big. Sometimes, even a small update can make a big difference in how much your home is worth and how enjoyable it is to live in. But it’s not just about what you like. Thinking about what other people might want, especially if you plan to sell one day, can help guide your decisions.
Get in touch with the experts at Zacky Property before your next big renovation project to get the best out of your property renovation investment.
Whether you're sprucing up an old gem or eyeing a brand-new spot, the choices you make can really boost your home's worth and make living there even better. It's all about picking the right updates that add value without breaking the bank. Think of it as investing in your home's future and your happiness at the same time. And if you've got an investment property, these smart touches can mean more money in your pocket from higher rent.
For more insights into property management and maximising your investment, explore our resources at Zacky Property. From investment strategies to understanding the nuances of property legislation, we’re here to help guide your property journey.
