One in three Australians plans on renovating their home in the coming twelve months, to give it a fresh look and increase its value as reported by Architecture & Design. Additionally, according to ABC News, renovation loans soared to 7.4% in June 2021, breaking a 19-year record. The rise of home renovations among Australians has mainly been driven by the pandemic, which has led to individuals spending the majority of their time indoors. If you haven’t jumped on this trend yet, but are planning to do so, this article we explore three home renovation ideas you should contemplate.
Landscape Your Lawn
Let’s face it, during this pandemic we’ve mostly lived a sedentary lifestyle. Hence, one of the first projects you should undertake is getting out in the sun and landscaping your lawn. The first step is to plan a design, which can include a combination of flower beds, pathways, garden rooms, etc.
Next, buy the necessary materials, such as mulch, wood, timber, compost, soil, etc. When it comes to choosing plants, opt for local varieties that are accustomed to the climate of your location.
Working on your lawn each day will serve as an excellent source of physical activity leading to the burning of calories and stronger muscles. Additionally, exposure to sunlight is a prudent source of Vitamin-D which promotes stronger bones and a healthier immune system.
On completion, you will have a beautiful outdoor space that increases your home value by at least 28%.
Create an Attic Bedroom
When looking for ways to increase the square footage of your home, choose to convert your attic into a bedroom. As reported by House Logic, an attic bedroom, provides a higher than 50% ROI and increases your home’s valuation by thousands of dollars.
While adding finishing touches such as painting and installing light fixtures can be taken up by you, this is a project where one should take the help of professionals. Converting an attic into a bedroom includes various complex tasks such as installing ventilation ducts, wiring, and windows, constructing a subfloor, and adding proper insulation. To oversee these projects, you can consult an architect or structural engineer and subsequently hire the required professionals. Moreover, you may need to obtain the necessary building permits to carry out this project.
An attic bedroom can also be used as the perfect place for individuals to isolate themselves due to illness.
Have a Kitchen Makeover
If you truly are planning on selling your home soon, a new kitchen is a way to go for increasing its valuation. Kitchens are often the centerpiece of a home which can make or break your chance with potential buyers. As a rule of thumb, plan to spend between 5-15% of your home’s value on the new kitchen.
A great kitchen has a balance between storage and functionality. If your kitchen is separated by your living room through a wall, consider removing it as it will instantly make your space look bigger, cleaner, and appealing. Having an open floor plan also makes for a great asset for hosting parties, where the kitchen counter can be used as a place to socialize and eat.
For homeowners across Australia, now is a golden time to make great additions to your property which help improve its functionality and value. Post renovations, always store receipts and take photographs that help validate your increased valuation.
Disclaimer: The information contained in this article is general in nature and does not take into account your personal objectives, financial situation or needs. Please consider whether the information is appropriate to your circumstance before acting on it and, where appropriate, seek professional advice.