Homes in Sydney have been moving like hotcakes. Twice as many people have been putting their homes on the market recently, and earning a lot of money for it. One house in Chippendale sold for $1.3 million, which was $100,000 over the reserve price. Though three parties were bidding, it was that bid that won the home.
Of course, it didn’t hurt that they had followed the old advice of how to add value to your home. The home had been remodeled to reflect its 1970s origins – one bathroom still has lime tiles.
The highest bid at the same auction was for $6,191,000 – which was $700,000 over reserve for the home that sold. It was built in 1909, and was sold to a young family. Results like this are usually only seen at the peak of the market, or when the market is getting ready to let up on prices and there’s less demand for a home.
To make the most of whatever kind of market you are currently in, there are things that you can do to add value to your home. A shed is one idea.
Why a shed? For one, it’s extra space. Whether the family needs extra storage space or there’s a teen-turned-eighteen that’s not quite ready to move out, a shed offers something that the home might be lacking. If there’s a boat or caravan, a shed is a great place to store it – motorcycles too.
Another possible thing to do that would add value would be to put in a flower garden or a tree. Trees are particularly tricky: they can give the home shade, but the branches can be dangerous to the gutters and the roof. However, if they produce fruit, an organic loving family will be in love with the home. Now, not every tree suits the needs of the area, but leaving the option open is a good idea.
A third possibility to add value to your home is to keep the exterior of the home looking good. While this doesn’t mean spending a lot of money on paint every month, it does mean making sure that everything looks good. Whether that is keeping the paint from chipping (which can be done with a little bit of sealant) or just making sure the lawn is in good condition, it is worth