Renovation tips to increase home value in Adelaide

Aussies love a good reno. In the September quarter of 2023 alone, we splurged more than $3 billion on alterations and additions to our homes. Instead of spending on holidays and dining out, we poured our cash into our homes. But, as excited as we get, let’s not fall into the trap of overcapitalising.

Overcapitalisation is when you spend more on renovations than you get back in property value. Imagine spending $150K on upgrades and only adding $75K to your resale value—ouch! So, let’s be smart about where to invest.

Assess Your Home’s Potential

Start by taking a good look at your home’s strengths and weaknesses. Highlight awesome features like a spacious layout or great natural light. Be honest about any outdated décor or worn-out fixtures. This process will help you pinpoint which areas need attention, so you can invest your budget wisely and focus on adding value.

Budget Like a Pro

Set a realistic budget based on your home’s market value and what you expect to gain from the renovations. Typically, major renovations can cost up to 40% of your property’s value. For example, renovating a $1 million home could set you back up to $400K if you’re considering big projects like redoing the floor plan or installing a new roof. However, if you’re looking for cost-effective upgrades, focus on cosmetic renovations like new paint or modern fixtures, which generally cost 1%-5% of your home’s value.

On a budget? Read our blog on cost-effective renovation tips.

First Impressions Matter

Don’t forget the exterior—first impressions are everything! Boost your property’s curb appeal with some fun landscaping, a fresh coat of paint, and an updated front door. A welcoming exterior can set a positive tone for potential buyers. Inside, stick to neutral paint colours to create a blank canvas that appeals to a broad audience.

Maximise Natural Light

Adelaide’s sunshine is gold. Install bigger windows, skylights, or glass doors to let the light flood in. Homes facing north or northeast are super appealing. Even if your home isn’t ideally oriented, strategically placed skylights and light-coloured interiors can create a bright, air-y feel.

Boost Storage Space

Storage is a key selling point for many buyers. Think built-in closets, shelving units, and kitchen pantry organizers. Show off your home’s organizational potential by making the most of available space. Efficient design is key. Avoid awkward furniture placements in expansive living and dining areas. Aim for functional, well-lit spaces that feel inviting. Bigger isn’t always better—focus on usability and smart design.

Create a Home Office

With the rise of remote work, a dedicated home office is a huge selling point. Design a functional, private study nook with enough room for dual screens and storage, plus a door for soundproofing. This can be a game-changer for buyers.

Decluttering and Depersonalizing

Think timeless, not trendy. Avoid flashy design trends that might not appeal to everyone. Keep your home neutral, classic, and traditional to retain its value and attract more buyers. If you want to experiment with bright colours or unique textures, introduce them through removable décor items like cushions, rugs, or artwork.

Hire the Professionals

When it comes to renovating for resale, having the right real estate agent on your team can make all the difference. A real estate agent who knows the Adelaide market can offer valuable advice on which renovations will boost your property’s value. Plus, they can connect you with trusted contractors to ensure quality, compliant work.

Thinking about selling after your renovations? Connect with us today to ensure your property stands out in the competitive Adelaide market. With our expertise, you can make the most of your renovation investment and attract top buyers.