Why most advice about the best way to add value to your home is wrong
You’ve no doubt heard a million times that the best way to add value to your home is to throw in a new kitchen or bathroom. You may have been misinformed.
But here’s why that’s not always the case.
A new bathroom won’t necessarily add as much value to your home as other renovation options
There may be other home improvements you could make that will generate far higher and more immediate returns on your renovation investment. And we don’t necessarily mean financial returns. For example, if your roof is leaking, or your home is cold and draughty, there’s not a lot of point in making a new kitchen your top priority.
Don’t make your new kitchen a priority if your roof’s leaking
Often the most valuable renovations are those you can’t see, so they do nothing to add to your home’s wow factor. Adding insulation to your ceilings and walls, for instance.
This bedroom wouldn’t be so appealing without effective insulation
You’ve also probably heard that installing a swimming pool in your yard will never pay back the cost.
But the fact is, if you have children, live in a part of New Zealand that experiences warm summers and are located in a neighbourhood where swimming pools are the norm rather than the exception, having a pool makes perfect sense – both in terms of lifestyle and economically. For many people, even having a Para pool in the backyard is a focal point of their families’ lives.
A swimming pool can actually be a great investment, both in terms of value and lifestyle
If home renovation advice is worth having, it must take all these factors into account:
- Who’s living in your home
- Your lifestyle
- Your needs in terms of how you use your home
- Your tastes and style
- The character and design of the home
- Your neighbourhood
- Any issues with the home
- Your future plans and aspirations
- What’s possible and what’s not
There is no single formula for working out the best way to add value to your home
In our experience, any renovation planning should focus on these priorities in order:
- Increasing the warmth, comfort and wellness of your family
- Preventing your home from deteriorating
- Increasing the functionality of your home
- Increasing the size of your home
- Creating the wow factor for your home
There are a plethora of ways to add value to your home
Because every home is different, and offers different ways of adding value, we at Pzazz Building offer a free In Home Consultation so we can get to know you and begin to understand what’s important to you. We’ll talk about what really matters. Your family’s needs and lifestyle, for example. And we’ll offer not only ideas and inspirations, but solid real-world advice on how best to improve the value of your home, both for you and any lucky buyer in the future.
