There are a lot of things that we want to add to our home, but not everything increases the value, whether in terms of sale or as a quality living space. 

Does adding a pool add value to your home? Does adding a deck adds value to your home? How about solar panels? Does adding a patio add value to your home?

In this article, we tackle 6 ways that will add both sale value and quality to your home.

Upgrade to energy-efficient appliances and house features

Supply of energy from traditional sources costs significantly higher, so it is best to upgrade to energy-efficient appliances. Sustainability in the home is one of the most popular ways to add value to your property.

It’s the ultimate investment as it saves you (or your tenants in case you want to rent your property) from having astronomical electricity bills. Spending more time indoors will consume more energy so better to address that at the onset.

Energy efficiency also helps contribute to a healthier lifestyle. Since it affects temperature, humidity, light, and other factors of living in a shared space, energy efficiency impacts physical and mental health. It significantly reduces cardiovascular and respiratory conditions, arthritis, allergies, and a host of other injuries. It also helps with rheumatism. 

Kitchen and bathroom upgrades

The kitchen is one of the most used spaces in the home; on the other hand, the bathroom is considered to be one of the most sacred spaces in the house so both rooms deserve to be upgraded.

No need to be dramatic about the design; do not underestimate the power of a fresh coat of paint, new fixtures even on taps and handles, and replacing some of the old appliances with new, energy-efficient ones. Make sure that both rooms are clean, comfortable, and with balanced aesthetics.

Related reading: How to Do a Cost-Effective Kitchen Renovation

Smart home technology

When you purchase energy-efficient appliances, it follows that you can also add other forms of smart home technology into your home.

After the global pandemic swept us all into a frenzy, there is a heightened sense of safety and security that is required in shared areas, may it be a home or commercial spaces. To address this, technology companies have poured their budget into research to further innovate their products. Focusing on sensors and mobile apps that can be accessed across several devices and eliminating a common touchpoint like remote controls or traditional switches, smart home technology also adds significant value to the property.

Related reading: Smart Home Technology: Yay or Nay?

Declutter / Clean up

Granted, the house always has to be clean regardless, but go the extra mile when you want to showcase your house to potential buyers.

Focus on making your place immaculately clean to enhance the interior design. Make sure that the parts of your home you don’t usually make an effort to clean, like the top of the cabinets or some nooks and crannies around the house are as spotless as the rest of the space.

Let the outdoors in

The interiors of our homes can sometimes become stifling so adding elements of nature not only enhances the look but also improves the quality of life.

Plants, water features, or decors inspired by nature are a great inclusion to the house for added value.

More storage means added value

Since there is an exponential increase in online shopping, people start owning more and more stuff. Maximize space so that future homeowners would know that they have enough storage for their things.

These are some of the ways to add value to your home so that when you decide to sell your property, it will have a significant increase in its selling price.

Once everything’s set up, give us a call and let us help you get the best price for your property! Schedule a property appraisal with us through our contact form. 

Find out how renovation increases the value of your home.

In this article, we help you gauge which parts of your home you can focus on to add the most value to your selling price.

Kitchen

The kitchen is the heart of a home. This is where most of the time is spent by members of the family or when you want to entertain your friends. Make sure that it captures the attention of your potential buyers from the moment they enter.

Repainting cabinets, replacing taps or benchtops, and even repairing broken tiles could go a long way and would further add value to your home for sale.

Related reading: How to Do a Cost-effective Kitchen Renovation

Bathroom

Considered to be one of the most sacred places in the house, the bathroom is an area of the home that competes with the kitchen for the “room where most members spend their time in”. Make sure that these spaces are as eye-catching as the rest of your home.

An old sink or toilet can age a bathroom. A simple replacement can give the entire space a quick lift.

Newer sink styles – freestanding, organic shaped, statement coloured – can turn a tired bathroom into something more modern, while a fresh toilet gives the impression of cleanliness.

One of the most inexpensive ways to improve the bathroom is a major clean. Make sure those tiles are spotless, the bathroom walls are squeaky clean, and the decor remains minimalist but still projects a very homey feel. 

Related reading: Will Doing a Bathroom Renovation Increase Your Property Value?

Outdoor spaces and landscaping

The first thing that catches the attention of future homeowners isn’t the interior of the house; it’s the facade. Whether it’s a garden or a driveway, or a small patch of colorful flowers that welcome visitors, it’s important that it makes people take a second glance and would encourage them to stop and check the property further.

Cut the grass, clean the driveway, repaint the front or garage, or showcase your garden. Don’t forget to also highlight your doorway and the windows from the outside. Replace dangling shingles and weather-worn window frames. First impressions last.

Painting, flooring and blinds

There are houses that do not need major repair or overhaul, so what to do to improve and add to the overall home value?

Make sure that your floor tiles and your blinds present a unified theme across all rooms of the house. From the front door to the back door, from the first-floor windows to the attic, uniformity can fetch higher prices, especially for minimalist homeowners.

Painting your house can lift the mood of your home and it’s inexpensive if you’re willing to do the work. If your budget allows, tackle walls yourself and get professionals in to do the ceilings, as these can be hard going on the neck.

Simple adjustments and improvements here and there could greatly affect your home’s selling value. To get an idea of how much your property is worth, schedule an appraisal with us through our contact form or send us an email at info@collings.com.au.

When evaluating how much value your renovation adds, it’s just as crucial to work with the right real estate agent. Many homeowners in the area often ask, Which agent sells the most homes in Northcote? Partnering with a local expert who knows the Northcote market inside out can ensure your renovated property is positioned to attract the best buyers and secure a higher sale price.

Swimming pools used to be a luxury feature in homes. These days, however we believe it’s a great addition if you have the room for it. Swimming is also considered as one of the most popular sports in Australia. Now is the perfect time to build one. 

Pretty apprehensive? That’s perfectly understandable.

Below are the reasons why you should seriously consider having a backyard swimming pool.

Health and Fitness

There is no need for you to go to the gym and spend money on memberships. You have your own workout “station” within your property and considering we still have the threat of new variants of the Covid19 virus in our midst, having access to public spaces is still not advisable. Having your own pool is safer as you are the only one who has access to it.

Swimming is also a very effective body workout. It keeps our heart rate up, builds endurance, muscle strength, and overall cardiovascular fitness, and provides a full body workout as all your muscles are being used when you swim.

It also helps improve your coordination, posture, balance, and flexibility, and also helps in low-impact therapy for some conditions and injuries. Swimming also aids in rehabilitation and recovery through aqua therapy and is very helpful in core workout.

Quality time with loved ones

Quality time with your family and friends usually means going out for a meal or planning a trip. But because of the new normal, we have to adjust and make sure to still enjoy quality time together in creative ways.

Having your own swimming pool will make way for different kinds of bonding sessions with your loved ones. Not only does it offer privacy and convenience, it also takes the pressure off of you to connect with your guests one-on-one, as they can enjoy their time in the pool and mingle with each other while you do your host duties. The pool is also kid-friendly so the children can play while the adults have a good time without taking their eyes out on their babies.

Saves money

While definitely worth every money spent, family holidays and party nights with friends cost an arm and a leg which limits these experiences to only one or two a year.

Having your own pool can help you get more time spent with the people you care about without the experience of breaking the bank. The only thing you have to worry about is the food and drinks, and usually, guests offer to bring something since you’re already hosting the event at your place. Your own pool can also be a part of your goal of building assets.

Increase property value

More and more people prefer to have a pool for the reasons mentioned above so should you decide to sell your property, it can add higher prices because of the swimming pool. If you have more spaces, you can also add patio extensions.

Related reading: 6 Ways to Add Value to Your Property

Relaxation

Whether it’s for fitness and health or just chill and relaxation, your swimming pool is your best friend. You can lounge by the pool while enjoying natural sunlight, swim leisurely, or stargaze at night while sitting submerged in the pool as you let your thoughts wander. It helps your mental health to spend a quiet time alone with just yourself and your thoughts.

Of course, there are a lot of things to consider before you build a backyard swimming pool and it will take time and money that you need to save up for. But we believe it will be a sound investment not only on a financial level but also in terms of developing your connections with your family and friends. Having an added space where you can spend time together is always a good thing.

Do you want to know the value of your property? Schedule a property appraisal with us. Contact us through email: info@collings.com.au or simply fill out our contact form.

What does property management entail?

Managing a property isn’t a walk in the park. Listed below is a list of the duties and responsibilities of a property manager’s role. After reading this you can decide whether to do it yourself or hire the appropriate team to do it for you.

Marketing and advertising

A marketing  and advertising plan for your property is one of the most important elements when you consider leasing your property. You identify the profile of your prospective tenants and then come up with strategies as to how to market your property. There is usually an average time on the market when setting a price and listing a property, but as long as you have a sound marketing and advertising plan in place, you’re good to go.

Screening suitable tenants

Once you put up your advertisements about your property for rent, you’ll start getting enquiries from interested clients. Checking their current employment status, rental history, and screening for the best tenants is time-consuming but also necessary. Conduct open houses, talk to their declared contacts for character references, and enquire about their employment and finances.

Handling your rental income and expenditure

Like any business, your rental income serves as your passive income. It depends if you’re renting out full-time and it’s the main source of funds or if it’s just a side-hustle, it is important to be involved in how you would manage the income and expenses with enough leftover for your personal needs or savings. Managing tenants, whether they are single-family or multi-family homes, requires a system when you collect payments to make the task easier for you as it’s very repetitive.

Property maintenance

One of the constant expenses that your rental property requires is the maintenance and repairs. Leaky roofs, broken windows, creaking doors, and cracked walls; those are your constant battles not to mention maintaining the general area clean and safe especially during harsh weather conditions.

Paying bills and taxes

On top of the expenses in maintaining your rental property, bills and taxes are other tasks that you need to familiarize yourself with. Be constantly aware of deadlines so as not to incur penalties.

Administrative work

This is very important especially to property owners who have multiple properties that they are renting out, be it commercial or residential. Making sure that all the documents that record the transactions for your rentals are on point and are followed through to the letter by both parties is essential. Single properties may not require as much, but the amount of paperwork is still necessary, especially for short-term rentals like vacation homes and the like. Regardless of different management styles, it is important to always update paperwork for your properties.

Communication channels

Although it is nice to keep everything professional between tenant and landlord, it helps build trust if you also try to develop a friendship. You are entrusting these people with your property so your communication channels should always be open.

Representation

In cases of disputes and other legal issues, representing the landlord’s side is on you. You have to know everything about what’s being disputed so you’ll know how to answer it and eventually, agree to a resolution that would work best for both parties.

Tenancy laws

The legalities of real estate properties (The residential tenancies act) is one of the most complex documents in any industry so you need to be knowledgeable about it. There are tenant laws put in place by the government so it’s best that you are aware of it.

Related: Rental Law Changes: 5 Most Important Things You Should Know

Should you decide to hire a property manager or opt to do it yourself, being familiar with the tasks and duties of a property manager is essential.

Since Abbotsford is tucked between Richmond and Collingwood, residents benefit from the inner-city living while also enjoying the greenery of the Yarra River. It’s safe to say that living in Abbotsford gives off the organic and laid-back vibe. This gentrified suburb is continuously developing and growing as the years progress.

Here are some of the amazing amenities that locals have come to enjoy and love 

High Schools:

• Australian National Academy of Music

The Australian National Academy of Music is an educational establishment dedicated to training the youth in classical music. Students from Australia and New Zealand are welcome. 

• Xavier College (Kew)

Xavier College is an Australian education institution that aspires and strives to form exceptional graduates through inspiring learning experiences.

Primary Schools:

• Abbotsford Primary School

Abbotsford Primary School is an internationally recognised Chinese/English Bilingual School, located in Abbotsford. The school is a pioneer and expert in running the Chinese/English bilingual program in Australia. At Abbotsford Primary School, students follow the Victorian Curriculum but undertake 50% of their learning in Chinese and 50% of their learning in English.

Cafe’s:

• Three Bags Full

Brunch is the specialty of this cafe and that is why they serve it all day. What makes this cafe more exciting is that its menu varies regularly to keep up with the taste buds of its customers. 

• Bomb Café Abbotsford

This quiet, friendly, and relaxed venue projects a colourful and cosy vibe, with three separate dining areas including a light-filled front room, more intimate middle space, and rear courtyard offering an idyllic retreat from everyday life.

• AU79

Out of a humble garage in Abbotsford, the vision of AU79 came to life. Now it is one of Melbourne’s premiere cafes.

Restaurants:

• Mesa Greek Cuisine

If anyone knows Greek cuisine, it’s the Papagelou family. This is the same family who is behind Mesa Greek Cuisine with a team of passionate food experts. With every dish served in Mesa Greek Cuisine is the oozing Mediterranean flavor that Melbourne foodies are looking for.

• The Aviary Melbourne

The Aviary Melbourne is not only a place for good food. It’s also a place where friends and geeks gather around for music and occasional raucous trivia night. 

• Tomthoon Thai

This hidden and almost secret Thai place in Abbotsford surprisingly boasts of a comprehensive list of authentic eats. Surely, Tomtoon Thai is one of the places that one should go to if you’re in the Abbotsford area.

• Retreat Hotel

Except for a few modern touches, The Retreat Hotel is intact with its traditional pub feel. Some additions to the original pub menu are great foods made from fresh and local produce. Craft beers on tap and local wines are also served by friendly staff. 

• Dr Morse Bar & Eatery

A concept bar & eatery inspired by a century-old mural advertising Dr. Morse’s Indian Root Pills. Nestled in an alcove of Johnston St, Dr. Morse offers a ‘cure for everything’ through coffee, alcohol, and food.

Shopping:

• Victoria Gardens Shopping Centre

Victoria Gardens is home to over 80 specialty retailers including Coles, Kmart, Freedom, Hoyts, and Ikea.

• The Hive Shopping Centre

HIVE 313 Shopping Centre is your one-stop convenience Centre providing all of your everyday shopping requirements with Woolworths and ALDI supermarkets, Chemist Warehouse, Commonwealth Bank, Yarra Medical, and specialty shops

Parks:

• Studley Park

Studley Reserve is a small park with a playground in Abbotsford. It is a great place to take the kids to play. Dogs and pets must be on a leash and supervised. This park is accessible for differently-abled people and has access to wheelchairs.

• Yarra Bend Park

Yarra Bend Park is the largest area of natural bushland near the heart of Melbourne. It is the home of the city’s famous bat colony. The park features steep river escarpments, open woodlands, playing fields, and golf courses.

• Yarra Blvd Trail

This is a loop encorporating the Yarra Boulevard and parts of the Main Yarra Trail. It is a safe trail for bikers as there is a dedicated bike path.  

Pets:

• Yarra River

Yarra River from Abbotsford to Royal Botanic Gardens is an 11.7-kilometer point-to-point trail located near Melbourne, Victoria, Australia that features a river. The trail is good for all skill levels and offers a number of activity options. Dogs are also able to use this trail but must be kept on a leash.

• CARE Veterinary Hospital

Centre for Animal Referral & Emergency (CARE) is a purpose-built, animal emergency and specialist hospital, open 24 hours a day, 7 days a week.

Abbotsford is truly a gem of a suburb to those who seek the balance of urban and rural living. Having a property in Abbotsford has its perks as the suburb continues to progress. So whether you are a buyer or a seller in this suburb, you can always discuss your options with us. Reach out to us via email at info@collings.com.au or give us a call at +61 3 9486 2000.

Median home sale price, quarterly price range, median rent, rental yield of Abbotsford, VIC as of September 2022. Screenshot from https://reiv.com.au/market-insights/suburb/abbotsford.

Other Abbotsford-related blogs:

Credit-to-debit ratio

To avoid overestimating your mortgage repayments, take into account your monthly spending habits and your current debts.

Maintenance costs

If you’re considering buying a home with a pool or other facilities, consider these maintenance factors into your budget

Determining your home budget is extremely crucial when purchasing a property. When disregarded, we often run into overspending that could render us short on repayments.

For more real estate video tips, head on to our socials:

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Youtube: https://m.youtube.com/c/CollingsRealEstateNorthcote/videos

What is the difference between the two? And which is better for my property?

There are several advantages and disadvantages to leasing your space short term and long term.  Check out our list so you can see for yourself which one you will have for your rental.

Short term stay (AirBnB) – advantages

• Flexibility. Short-term stays allow property owners the opportunity to use their properties in between guests.
• Higher rental rates. Short-term rates have a higher potential to generate more revenue especially if you are in a very good location. You can increase your rates for every new set of guests.
• Less wear and tear. Short-term stays allow for the property to “breathe”; owners can have regular maintenance checks and upgrades if necessary, and overall cleaning.
• Convertible. Based on your needs, you can switch from short-term stay to long-term rental easily.

Short term stay (AirBnB) – disadvantages

• Lack of security. If you’re in a location where tourism is seasonal, there is no guarantee that your property will be occupied the entire year. This is something that you should address early on so you can plan for the months that you don’t expect to earn.
• Fluctuating income. In real estate, there is a phrase called “feast or famine”, and this is true especially for short-term stays. As mentioned, if your location is also in an area with seasonal tourism activity (near a beach), then you might experience this.
• More paperwork. Since you will be constantly changing guests, there is more amount of paperwork to accomplish as compared to when you’re having your property available for a long-term rental.
• Maintenance. While it is also an advantage to have a more regular time to clean up after every guest up and leaves, it also costs a fair amount of money as compared to long-term rentals where the guests tend not to take care of the property as carefully, if not screened correctly.

Long term lease – advantages

• Stability. A long-term lease offers a more stable income and you won’t need to worry about vacancies often.
• Certainty. In terms of your long-term financial plans, it is easier to forecast it if you have a long-term lease. If you have other investments that you want to save up for, you can easily plan for them.
• Management is easier. There are Real Estate agencies that can manage the property all year round and assist with the following duties: finding and screening a potential tenant, conducting regular inspections of the property, arranging maintenance issues to be fixed, and resolving any disputes.

Long term lease – disadvantages

• Locked in. For example, your town suddenly decided to hold a world-class event and the demand for a rental space soars, if you have a long-term tenant, you cannot take advantage of the opportunity to charge higher for a short-term period.
• Negotiations are longer.  Since your tenants would stay longer with you, they would want to work out additional perks to their stay.

Overall, there are both a couple of advantages and disadvantages to short-term stays and long-term leases. Make sure to gauge your risk tolerance and how renting out would play a part in your investment plans and financial plans.

Related Posts

• Airbnb tax

There are several things to consider before you put your property up for sale – one of them is presentation.

While a very personal thing, selling your property means you have to strip your home of any traces of your taste and preferences before you allow future homeowners to view it.

This way, they can further imagine how the space would work for them when they view the house.

Below are some tips on how to present your house for sale.

First impressions count.

• Even if there are other properties that seem larger or have better locations, if yours gave a memorable impression to your potential buyer, you’re a front runner. Remember that selling a home isn’t about being luxurious or extravagant; it’s all about the potential each space could offer the future homeowners.

Declutter and depersonalise.

• Viewing a space with personal effects will make it harder for potential buyers to connect to it. Make sure that you give them the freedom to imagine what it can be like if they were the ones who own the place.
  One more thing is to make the space clutter-free, especially smaller spaces. Having everything in its place and storage will make it look more spacious.

The big clean.

• A big turn-off to a property being sold is if it comes off as a very unclean space. Cobwebs, dusty furniture, even stains on the wallpaper could make potential homeowners run the opposite way of a sale.

Make the most out of your outdoor space.

• Once they go out of their car, the first thing they’ll see in your property is your outdoor space. Making an impression from the get-go will make them feel more excited to explore your home.

Simple repairs.

• Apart from an unclean home, a “crumbling” house also sends future homeowners low-key running away to other options. A worn-out shelf that has one glass door broken, loose doorknobs, or the cracked marble countertop in the kitchen area; all these things should be taken care of before you open your house for viewing.

Presentation is key so get on with the cleaning and decluttering. Stage your property to be a blank canvas and help interested viewers to picture their future life. Prepare for the big sale.

Related reading: 3 Things to Consider Doing to Your Property Before Putting It on the Market

Now that you’re ready to sell property, the final step is finding a reputable real estate agent to help you with the process. Rated 5 stars by both buyers and sellers in Victoria, Collings Real Estate takes pride in delivering only the best service to its clients. Start your real estate journey with us by giving us a call at +61 3 9486 2000 or simpy fill out our contact form.

Choosing the Right Agent

When preparing your home for sale, selecting an experienced real estate agent is crucial. A knowledgeable agent can provide valuable insights into market trends and buyer preferences, ensuring your property is presented in the best possible light. If you’re wondering, “Who has the most listings in Northcote?” it’s worth noting that Collings Real Estate has a strong presence in the area, backed by numerous five-star reviews and a comprehensive understanding of the local market. Their expertise can guide you through the selling process, from staging your home to negotiating the best price.