Adding value to yourself can be tricky, and take some time and preparation, however it can be done. Whether you live in a single, double story, duplex, house, you will have the ability to add value to your house. Ensure to take a problem-solving mindset when starting to add value to your house. What does this mean? Think of yourself as a someone (say a potential buyer) of your house.
Think about different buyers and what they might be looking for
Firstly, it is a good start to understand the demographic of your neighbourhood, are they mostly singles, couples or elderly? I live in an area with mostly established couples, so I bias my extensions to what may pose as valuable for couples.
Adding an extra room is the most common and profitable way to add value
Adding an extra room to your house can be a way to increase the property value of your house. If you have a large 2 bedroom house it might look good as a normal 3 bedroom house. Or, if you have a downstairs basement with enough height and space, then another good option.
On average, adding an extra room will provide returns of up to $95,000 (src: Ray White). This is an enormous value increase, compared to say, adding lamps/lighting and sprucing up the house internals with decorations. Of course, adding a room is not as easy as it sounds, as there is often approvals required and building works to be planned and executed.
Though, if you are a builder or tradie, you may be able to build a simple stud wall yourself, saving you cost to hire a licenced builder. Walls are constructed typically with timber, plaster, and then painted for the final finish.
There is many content and videos online on how to build your own DIY stud wall. These are often built when needing to extend areas and section off living space. Plastering is the challenge for most, and usually best to hire if you don’t know what you are doing.
And hey, this is just one idea to get the cogs turning. Value is a tricky thing to understand, where it helps to put yourself in the buyers shoes and understand what they need the most. Writing a list of these things will help you identify what you need to build to add the most value to your house.
Hope this article helps.