The size of homes in Australian cities are shrinking. The average Sydney property shrunk from 312sq m in 2010 to 285sq m in 2015. So how do you get more value with minimal space?
Simple. It’s time to get smart.
Adding value to your home either for longevity in the market or in preparation to sell can be done in multiple ways. Whether you have a growing family and living space is a priority, or a home business takes hold of your second bedroom, thinking outside the rooms inside your home can step your home up the property ladder. What’s more, being smart with your home improvements might even save you money.
The Space Above Your Head
Does your home have potential space you might have forgotten? Aris Dendrinos, Licensee in charge at Richardson & Wrench real estate Marrickville says attic conversions are a popular space-adding solution to small Sydney terraces.
“Attic conversions with drop down ladders in the roof cavity of the main body of the home are very good at solving the storage conundrum for all those unattractive, but space invading items like luggage, golf clubs etc.”
Fake It Out Front
Synthetic grass might not sound so lovely, but it’s certainly got it’s upsides. Aris says that many times, smart homeowners are choosing to lay synthetic grass over natural for its low maintenance, year round good looks, and 10 year warranty.
“In the current world we live in with water restrictions and people choosing a more environmentally conscious lifestyle this option ironically uses less resources. There is also the added vanity factor of the garden always looking perfect all year round in any season,” Aris says.
Live the Great Outdoors
Don’t waste your outdoor space. Whether you’ve got a tiny terrace or a decent-sized garden, consider what space you need more of in your home. Do you live in a terrace and need a second lounge room? Is your indoor living space combined, and would you use an alfresco dining area most often? Furnish your outdoor space to reflect your lifestyle and needs.
Kevin Pobjie, Managing Director of Wizard Home Improvements recommends investing in multi-use or foldaway furniture to make the most of your space.
“A foldable table offers the option to entertain for a dinner, but when collapsed down, the space opens up for lounging or a standing cocktail style party. Think about using a built-in bench seat or table that doubles as a storage box where you can store extra seating,” Kevin says. Something many buyers will no doubt see as a plus.
Double-Glazing to Seal the Deal
Energy efficiency and climate control are top priorities for most homeowners and buyers. Adding double-glazed windows and doors to your home will greatly improve temperature control and energy consumption, especially in dark terrace homes or small duplexes. Adding double-glazing is an investment, however the long term benefits add significant value to your home, and buyers will recognise that.
Just because you live in a home with low square footage doesn’t mean you can’t increase its value for Auction Day. A small, but strategic investment could well bring a much bigger return than expected.