If you’re thinking about renovating your home, you’re probably wondering whether or not the investment will pay off in terms of increased property value. While it’s true that some renovations can add significant value to a home, others may offer less of a return on investment. This blog post will explore how kitchen, bathroom, and exterior renovations can impact a home’s value and provide tips for making smart renovation decisions.
When it comes to increasing the value of your home, few renovations offer a sense of luxury as a kitchen renovation. A well-designed and updated kitchen can be a major selling point and can significantly increase a home’s value.
Utilise unused space
One of the keys to a functional kitchen is making the most of every inch of space. If you have any unused kitchen areas, consider converting them into storage or prep areas. For example, you could install a shelf above the sink for frequently used items or add a built-in banquette to create a breakfast nook.
Invest in quality furnishings
While it’s important to stay within your budget, it’s also worth investing in high-quality materials that will stand the test of time. This includes items such as cabinets, countertops, and backsplashes. Not only will these items look better, but they’ll also be more durable and require less maintenance over the long term.
Upgrade your appliances
New appliances can be a major selling point, especially if the existing appliances are outdated or in poor condition. Energy-efficient appliances are particularly appealing to buyers, as they can help lower energy bills and reduce the home’s environmental impact.
Consider kitchen storage options
In addition to traditional cabinetry, there are many other storage options to consider for your kitchen renovation. For example, you could install inner drawers within cabinets or shelving units that make accessing items at the back of your cabinets more accessible. Or add pocket doors onto a benchtop cabinet to create a mini butler’s pantry or wall-mounted open shelving.
Update your flooring
While it may not be the first thing that comes to mind, flooring can greatly impact the overall look and feel of your kitchen. If your current flooring is in poor condition or out of style, consider updating it with new materials such as hardwood, or porcelain tiles, just to name a few.
When it comes to increasing the value of your home, a bathroom renovation can be a smart investment. A well-designed and updated bathroom can be a major selling point and can significantly increase a home’s value. Here are some ways to make the most of your bathroom renovation and add value to your home:
Consider the bathroom layout
The layout of your bathroom can greatly impact its functionality and appeal. During your renovation, consider ways to make the most of your space. For example, you could add a double vanity or a linen closet to provide more storage or install a curbless shower to create a more open and spacious feel.
Allow plenty of natural light
Natural light can make a big difference in the look and feel of a bathroom and can also help make the space feel larger and more welcoming. If your bathroom doesn’t have a window, consider adding one or a skylight to bring in more light, it makes all the difference.
Add paint and decor
A fresh coat of paint and some new decor can go a long way in updating the look of a bathroom. Consider using a light and neutral colour palette for smaller spaces to make the space feel bright and airy. To create more of a statement, choose a dark earthy colour combined with warm textures to create a cosy and moody atmosphere. You could add decorative touches such as artwork, mirrors, or plants to give the bathroom personality.
Install quality tapware
The tapware in your bathroom, including the faucets, showerheads, and handles, can make a big impact on the overall look and feel of the space. Consider alternative finishes to chrome, such as antique brass, brushed gold, or stainless steel. It’s also worth investing in tapware that will be used day-to-day, such as your kitchen mixer and main bathroom.
Update the flooring
Just like in the kitchen, the flooring in your bathroom can greatly impact the overall look and feel of the space. If your current flooring is in poor condition or out of style, consider updating it.
While it’s essential to focus on the interior of your home when renovating, the exterior of your home is just as important in increasing property value. Here are some exterior renovations to consider:
A fresh coat of paint
One of the simplest and most effective exterior renovations is giving your home a fresh coat of paint. This can help modernise your home’s look and make it more attractive to potential buyers. When choosing a paint colour, consider your home’s style and neighbouring houses’ colours.
A new front door
The front door of your home is the first thing visitors see, so it’s worth investing in a new one if it is outdated or in poor condition. A new front door can add curb appeal and increase the security of your home. When choosing a new door, consider the style of your home and the material that will best suit your needs.
The landscaping around your home can greatly impact its curb appeal and value. Consider adding some low-maintenance plants, grass and a walkway to give your home a more polished and inviting look. If possible, you could also add a patio or deck to create an outdoor living space, which is ultimately becoming a staple for buyers, especially in Australia.
When it comes to increasing the value of a property, it’s crucial to consider kitchen, bathroom, and exterior renovations. Making smart renovation decisions and investing in quality materials can increase the value of your property and make it a more enjoyable place to live. Looking to renovate? Contact Lux Interiors today for all your luxury home renovation needs.