If you’re a homeowner in the capital of Western Australia, 2021 could be highly profitable for you! The expectation from experts is that house prices in Perth will rise by as much as 10% during 2021.
What’s causing the rise in Perth house prices?
The Real Estate Institute of Western Australia (REIWA) has reported a jump in house sales of 42.5% when compared to December 2019.
The rise in Perth house prices is believed to have been caused by a few factors. Firstly, Western Australia has been applauded for its response to the coronavirus pandemic, making it an attractive proposition for people looking to relocate. The city also boasts a booming rental market and a strong economy.
How can you maximize the value of your home?
When trying to add value to any home, you need to think about the people who might be interested in buying your property and what it is that they might want from their new home.
Perth is known for its sunny weather and beach views, so the chances are that anyone moving there would want a great outside space. According to a study, a nice garden could add as much as 20% to the value of your home.
A decent quality patio was an important part of a garden, according to respondents to the study, making Patio Installation a great idea in terms of return on investment. This is particularly true if the patio is unique, or it adds to an overall low maintenance garden.
Kitchens and bathrooms
The kitchen and the bathroom are the rooms most perceived to have a high impact on resale value. They are the rooms that people use the most and the ones that are the most difficult and time consuming to remodel. If you’ve already done it, this will score you big points in the mind of a potential buyer.
In the kitchen, start by replacing your appliances for up to date models, and if possible, make sure that they match. Think about installing lots of cupboard space while keeping a clean and functional feel.
With bathrooms, you don’t necessarily need to replace the whole thing! You can do things like updating the fixtures and fixing the tiling, which will give the illusion of a brand new bathroom, without the cost of one.
How your home looks from the curb is important, as it is the first impression your potential buyer will get of the property.
Luckily there are lots of ways to boost curbside appeal on a budget:
• Painting your front door a bright and cheerful color will make your home stand out and also give it a warm and inviting feel.
• Give your steps and path a really good clean with a pressure washer.
• Everyone loves plants, so go wild with the greenery!
• Take the time to touch up your exterior woodwork with a coat of paint or wood stain.
• Get rid of any weeds; they will make your garden look messy and uncared for.
• Repointing can make your house look much newer! If you don’t want to do the whole house, at least do the area around the front door.