Homeowners in Auckland may be better off in renovating their houses, as prices in the city may follow a trend of falling values in some Australian cities.
Data showed that prices in Sydney and Melbourne have dropped by 5 per cent and 0.5 per cent, respectively. The decrease occurred in July for the first time in six years. If you still want to sell your home in Auckland, a renovation would be an excellent way to increase its value.
An average house in Auckland cost $810,000 in July, down by 10 per cent compared to the peak value of $900,000 in March 2017. The figure may still be expensive even with the decline, but it represents a loss for homeowners who plan to cash in on their investment.
One of the best ways to increase the value of your property involves the addition of another floor. A vertical addition means more liveable space. You could also consider including floating steel stairs and other modern designs by Ackworth House to make it more appealing for buyers. Even if you don’t intend on selling your house, an expanded home improves the quality of life for residents.
In case an additional floor isn’t an affordable choice, you could try expanding the horizontal space in your home. Try to imagine if joining two rooms would be more convenient. Empty Nesters could simply tear down their children’s old bedroom and turn it into a bigger living area.
Those who only want a quick and cheap way to improve the value of their homes could repaint their houses, or do some landscaping. These options enhance your curb appeal, which is important to draw the attention of potential buyers.
A home sale in Auckland may not be the best option, yet circumstances may vary for each homeowner. Think carefully if you should put your property on the market, although renovating it before a listing seems a good way to increase your asking price.