No budget or no flat space to add a garage? "A lot of houses have rooms that aren't used any more — but for example, if you have a three-bedroom home with a redundant dining room, you can spend around $1000 putting in some new plasterboard walls and turn it into a bedroom, which will add tens of thousands of dollars in value and is really cost effective," Harris said. "Things like replacing carpets and pulling up tiles and floorboards add value and are also relatively easy and can be done by a DIY enthusiast. Even an owner without school-age children should consider school zones for resale value. You know the ones – those dark brown 70’s doors with the old handles. In a recent survey , UK real estate agents estimated that removing bulky items to create more space in your house could increase its sale price by up to £2,500 (around NZ$4,800). The lowest value-added amount – but still by no means one to be sniffed at – was the word 'Eager' in the North West and South West adding £21,921. Renovations that add value from inside out. Propertyfiles is a game-changer for buyers and real estate agents. Just by decluttering, adding a lick of paint and careful styling, it is possible to add 5–10% to the value of a property. nz property investor december 2013 www.propertyinvestor.co.nz40 //// nz property investor 41 renovation: ADD A ROOM DeciDing if anD how to add a room to an investment property should be based on understanding the numbers, the potential equity or rental returns and the area’s rental market. First impressions count! This usually increases the value of the land. Depending on the property's purpose, you may increase its value by adding more office, warehouse, storefront, parking, storage, conference, or employee gathering space. Another winner can be updating your home's security — especially if your potential buyers are families or older Kiwis. 7 Ways to find houses with less competition… How can you be smart in this market and purchase…, In this article, you will find straight-forward tips and advice on what to do if you have a…, If you are in the market for a home, it can be very hard to find one with…, There is now a real estate file delivery system available that every single real estate salesperson should be…, 13 Cheap and uncommon ways to add value to your home…. Blogger, podcaster and coach. However, New Zealand might be behind the eight ball on this one as US studies show solar panels can add value to a home, or help it sell more quickly. When the land is subdivided into more than one lot, each lot is then sold to one or more buyers. They aren’t ridiculously expensive to install but in terms of adding value to buyers, they are almost on par with having a dishwasher. No login required This is how you turn a cold, concrete 1940’s garage into a multi-purpose gym come man-cave. The lowest value-added amount – but still by no means one to be sniffed at – was the word 'Eager' in the North West and South West adding £21,921. Smart buyers will test the shower during open homes. "This relates primarily to market conditions, but basically spending too much on a low(er) value property will possibly mean you don't get all your money back - it's known as overcapitalisation. Property value: A computer generated value based on market trends and similar properties with comparable attributes which have been recently sold in the area. Would you like to increase your potential selling price or valuation without spending the earth? If in doubt when choosing a new bathroom, opt for white. You can find out more about ownership in property titles and plans. According to Luke Harris and Matthew Bateman, who founded real estate mentoring business The Property Mentors, the key is to focus on strategic renovations that will bring the most "bang for buck". A very inexpensive way to modernise your kitchen. When these are done professionally they can cost a bit more than you might think but they are worth every penny. Residential House Values. As New Zealand’s most experienced property depreciation experts, we will help you to minimise your tax liabilities, in turn maximising the return you get for your investment, creating greater cashflow. According to property experts Luke Harris and Matthew Bateman a few simply DIY tricks can go a long way. You can find out more about ownership in property titles and plans. The South West saw the biggest value increase in the research findings, with the word 'Chipper' adding £56,571. 'S population is ageing, demand for personal property valuers to value items for may. 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