Given the high price of real estate in the current housing market, the decision to improve asset value in Sydney can be lucrative. However, it’s important to conduct extensive research before going ahead. Here are five ideas recommended by experts, which minimise outlay while maximising profits.
1. Re-roofing in Sydney
A roof that’s damaged, leaking or worn-out is unappealing to many prospective home buyers. It appears as a potentially costly and time-consuming problem. If your roof has had its day, then investing in re-roofing could be a smart, cost-effective way to improve asset value. If your roof has life in it yet, then another, less expensive option could be roof repairs in Sydney.
2. Building repairs in Sydney
Once you’ve dealt with the roof, take a close look at the rest of the building. Are building materials deteriorating? Is the paint peeling? In what state are the doors, windows and locks? Whether you organise minor or major building repairs in Sydney, you could seriously boost your property’s worth.
3. Asbestos removal in Sydney
If your property was built between 1930 and the 1980s, there’s a possibility that it contains asbestos. This dangerous material, which was a common element in construction up until the 1980s and wasn’t universally banned until 2003, could be present in numerous areas, including tiles, insulation, pipes and joints. Consider organising an inspection and, if necessary, proceeding with asbestos removal in Sydney.
4. Renovations: kitchens, bathrooms and more
One of the most popular ways to improve asset value Sydney is via renovations. If your goal is primarily financial, then your renovations should be made according to what’s considered valuable, not according to your tastes. Before undergoing renovations, be sure to research the market thoroughly and seek advice.
5. Make some additions
Like renovations, additions should be the result of extensive research – if your aim is to improve asset value. For example, even though many home owners believe that pools are desirable, they’re not always the most cost-effective choice. A double garage, ensuite, patio and extended living areas might all be preferable.
These ideas are just the tip of the iceberg. If you’d like more professional tips to improve asset value in Sydney, please get in touch with the expert team here at Murphy’s Group Services.