If you're thinking about adding value to your home, and the first thing that comes to your mind is painting and cleaning, you're just scratching the surface.
Although a fresh new paint and deep-cleaned carpets can help add value, there are some more additions that can take your house's value to the next level.
In this article, we're going to dig deeper and give you the non-generic tips to increase your home's value.
Installing smart home equipment is sure-fire way to add value to your home.
A smart home is equipped with various state-of-the-art electrical and security devices that can be controlled and monitored remotely using a smartphone or a computer.
Here's a list of devices you should consider installing to convert your home into a smart home:
As a home owner, you likely have a smoke detector installed already but new innovations are taking home fire safety to new levels. For example, a smart smoke-detector can send a text on your phone if there's a funny smell in your home - now that's smart.
In 2018, the number of burglaries in New Zealand rose to a shocking 48,194. Motion sensors help you keep the uninvited guests out. They can trigger alarms when someone tries to enter through windows or other restricted areas and automatically trigger doorbells when someone approaches the door.
Nothing says smart like thermostat. This smart device can intelligently adjust the temperature to ensure maximum comfort. You don't have to wait for an hour to enjoy a warm cozy room after you come home after a night out. You can trigger the heater an hour before you arrive using your smartphone.
Financially speaking, a smart home is vastly more impressive than an average home.
Renovations are likely essential, especially for old houses. You probably don't see anything wrong with your decade- old toilet seat, but it might turn off potential buyers in the future.
The kitchen and the bathroom are two spots in your home that need to be the cleanest and most well-designed of all.
Here's a checklist of some kitchen and bathroom items that you might want to consider upgrading:
Now this one's a bit different from the rest. It requires you to make changes in your home loan rather than your home.
You might have been attracted to the lesser monthly installments that come with a long-term home loan but, soon, you'll realise that you're going to be in debt for the next three decades.
That might not be the best feeling.
"Refinancing into a 15-year loan can be a great way to build equity because a lower rate means that more money is applied to the principal"
-Roslyn Lash, Financial Counselor
Here's the deal, refinancing to a 15-year home loan will save you money because you'll only have to pay the interest for 15 years instead of 30 - and let's not forget the extra savings as a result of a lower interest rate that comes with refinancing.
It's basically making strategic changes in your existing home loan to save thousands of dollars and increase home equity.
Here at New Zealand Home Loans (NZHL), we're committed to making the process as easy as possible for you.
Use our free calculator to calculate how much money you can save now.