Top 5 Ways To Add Value
Money Magazine Australia|October 2021
A memorable holiday experience can be the inspiration for a clever, on-budget update at home
Tracie Ellis
Top 5 Ways To Add Value

Want to renovate but not too sure where to start? At some stage homeowners delve into the land of renovating, with a view to increasing the value of their property. The process can certainly be overwhelming. Whether applying fresh paint or investing in a significant renovation, every dollar you spend must add value.

Sadly, the dream renovation takes a wrong turn for many, and before you know it you are on the path to doom and gloom and hemorrhaging money into correcting silly mistakes that you cannot believe you didn’t see coming.

Renovating for profit is about strategically targeting what you spend your money on and then return it gives you. Engaging the services of experts and not cutting corners are essential. Due consideration at the outset should be given to whether you will utilize an architect and/or interior designer. This may seem like an unnecessary extra expense when in reality this investment will save you thousands in the long run.

So, what are the top five areas that owners should focus on to improve the value of their home?

1. Home office

Now, more than ever, a dedicated homework space is of utmost importance. None of us has a crystal ball and with Covid throwing a spanner in the works we need to have a comfortable space to work. This is now a value-add to any property. Prioritize your ideal workspace. What do you need? How much space do you need to complete your work? Is there a requirement for drawers and shelves? Consider your lighting.

This story is from the October 2021 edition of Money Magazine Australia.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

This story is from the October 2021 edition of Money Magazine Australia.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

MORE STORIES FROM MONEY MAGAZINE AUSTRALIAView All
An outrageous, beautiful monopoly
Money Magazine Australia

An outrageous, beautiful monopoly

Telstra's mobile business is a cash machine with few competitors, giving it the highest returns in the world.

time-read
4 mins  |
July 2024
Drop the anchor to judge value
Money Magazine Australia

Drop the anchor to judge value

Buying and selling decisions should be based on where a stock price is going, not where it has been.

time-read
3 mins  |
July 2024
Powering the AI boom
Money Magazine Australia

Powering the AI boom

Beyond the software and chipmakers, where will the energy come from?

time-read
3 mins  |
July 2024
Get into life
Money Magazine Australia

Get into life

Tucked inside super are products that can protect you from life's inevitable uncertainties.

time-read
5 mins  |
July 2024
Paths to home ownership
Money Magazine Australia

Paths to home ownership

Taking the road less travelled can sometimes deliver unexpected benefits.

time-read
5 mins  |
July 2024
Sold! Quick ways to add value
Money Magazine Australia

Sold! Quick ways to add value

Small, strategic changes can have a big impact on the look and feel of your home. And get you a better price on auction day.

time-read
5 mins  |
July 2024
Money lessons the kids need to know
Money Magazine Australia

Money lessons the kids need to know

Your children can learn a lot from your past money mishaps. Here are eight financial conversations I have had with mine.

time-read
4 mins  |
July 2024
Property-investing rules: are they likely to change?
Money Magazine Australia

Property-investing rules: are they likely to change?

The pressure for the government to curb the tax benefits of tax concessions, such as negative gearing and the capital gains tax discount, is unrelenting. Most recently, independent senators David Pocock and Jacqui Lambie proposed five options for paring back investment property tax concessions, with savings to the Federal budget of up to $60 billion over the next decade.

time-read
3 mins  |
July 2024
What's love got to do with it?
Money Magazine Australia

What's love got to do with it?

A rollercoaster of emotions could be driving poor crypto behaviour.

time-read
3 mins  |
July 2024
Are we ready to be cash-free?
Money Magazine Australia

Are we ready to be cash-free?

Saying goodbye to our piggy banks too soon could leave small businesses in the dark when problems arise.

time-read
2 mins  |
July 2024