How to add value to your home in winter
Winter is normally the time of year that things start to slow down in the property market. Buyers aren’t quite as active and there usually aren’t as many vendors putting their home up for sale. In fact, you’ll probably be getting ready to hanker down before the cooler weather hits, so making improvements to your home isn’t likely to be on the top of your priority list.
However, a new survey from the Melbourne Institute suggests that Australians are actually feeling better about buying a home now than they were last month – even with the winter months approaching!
This means it could be the right time to take out a construction loan or refinancing your current home loan to get your house ready for sale. But what changes can add value to your property at this time of year? Here are some ideas to get you started.
Outdoor kitchen
Australia is blessed with a pretty mild climate, but it can certainly cool down during the winter months – which could make adding an outdoor fireplace an option. Alfresco living can be a big draw card for buyers. Providing them with an outdoor fire pit or fireplace can mean that eating or cooking outside stays a possibility when the temperatures drop. It can also add a real sense of drama to an open-air living space, as well as a focal point for entertaining.
There are plenty of options on the market for this kind of feature. You could go the traditional wood-fired route, or take a more modern approach with a gas or bio ethanol-fuelled option. Whatever you choose, just be sure to check with all regulations and restrictions in your area, as well as with Australian Standards before going ahead with the project.
Heating system
Buyers will love the feeling of a warm and toasty home during winter. Given that heating and cooling accounts for around 40 per cent of a household’s energy use, according to the Department of Industry and Science, if yours is old or ineffective, it could be a good time toconsider home loan refinancing to replace or upgrade to a better HVAC system. It also gives you the opportunity to improve your homes energy efficiency and reduce its carbon footprint, which could make your property more marketable to buyers who are environmentally aware.
As you can see, there are plenty of avenues you can take to boost your home’s value during winter – which one will you choose?
