When it comes to selling your home, timing can be everything. After three years of record growth, house prices finally dropped in 2023. The average time to sell a house dropped to 37 days in October from 42 days in August and 49 days in May and June.
Although the market is turning around, wanting the right price and the right buyer can still take longer than expected. Homeowners who experienced record-high valuations in 2020-2022 may need to lower their expectations if they want to sell in today's market. The average price of a home in New Zealand dropped by 5.63% to $908,853 in December 2023.
The good news is that a little bit of effort can go a long way. From minor renovations to creating areas that bring the wow factor to your home, there are lots of inexpensive ways you can make your home more appealing to buyers. If you’re looking to boost your home's value in 2024, here are the areas you should focus on:
Kiwis love their decks. The added value a dedicated outdoor space can bring to your home is significant and shouldn’t be overlooked. If you own a home that has a decent backyard, think about creating a deck. This can improve the indoor and outdoor flow and make it feel like your home has more entertaining areas than just relying on the inside rooms.
With more New Zealanders working from home (or doing hybrid work) the demand for outdoor spaces is higher than ever.
Kitchen renovations are expensive and take a long time. Rather than spending tens of thousands on a new kitchen, look for ways you can revamp the existing space.
Flatpack kitchens, like Kaboodle, make it easy to upgrade your space without spending a tonne of money.
If you have an older-style kitchen (think metal benches and individual taps) upgrade your countertop to a wooden or marble version and buy a modern faucet for the sink. You can easily update old cabinetry by purchasing new cupboard fronts and handles. Add in a clean white splashback, and your kitchen will look much more appealing to the average buyer.
Read more home content:
If your home looks like it needs work, potential buyers will walk away. Do your gutters leak or sag? Are they full of leaves? Do your hedges, lawns, or gardens look overgrown? Does your home only appeal to someone who likes to spend a lot of time gardening, weeding, and mowing?
The more low maintenance you can make your outdoor space, the better.
Mow the lawn, fix any broken fencing and replace your gutters if they are cracked or damaged. Don’t underestimate the power of making your home not just look tidy but look easy to maintain. Replace old cracked pavers with new models and remove any junk or green waste sitting around outside.
Landscaping is one of the best ways to boost the value of your home. Your front yard is the first thing potential buyers see when they drive to your home. Make sure your driveway, garden beds and the front of your home look well-maintained and inviting.
While investing money here is a good idea, you should still be cautious about what you spend money on. Plants and hedging can bring interest to the space, while a fresh coat of paint on your front door will also go a long way.
Adding lighting to your front door stoop is also a good investment, but don’t go overboard on spending too much here.
Paint is one of the best things you can do to make an impact in your home quickly. If your home has dowdy wallpaper, outdated colours, or looks old and tired, a lick of paint will go a long way.
Opt for whites or warm neutrals over grey — which can look cold and is often overdone.
A fresh paint of coat shows that your home is well cared for and will help potential buyers see themselves in your home. Although painting doesn’t take long (you can do a bedroom in a day), many buyers see it as doing the bare minimum.
Upgrading your lighting is a fairly affordable and easy fix. LED lighting is eco-friendly, will make your home instantly look brighter, and gives each room a more modern look.
You don’t even need to do the whole house. Focus on installing LED lighting in the living areas — your kitchen, dining and lounge. Having one tired old light in the middle of each room can make it look old even if it’s painted and well-furnished.
If your home has old carpet that is visibly frayed, worn, stained, or just plain ugly, the best thing to do is rip it out. The good news is you don’t necessarily need to replace it. If you’re lucky enough to have hardwood floors underneath, polish them and decorate them with a few well-chosen rugs.
Opt for laminate or vinyl plank flooring if you don't have hardwoods. It’s way cheaper than the real thing and has the same effect. Avoid grey shades of wood. Although grey wood is popular, especially amongst house flippers, the effect is often unnatural and cold. Instead, choose a wood colour in any warm tone.
No, we’re not talking about couches or furniture. Make your home as comfortable to live in as possible. If your home doesn’t have adequate heating, install a heat pump. If you have a heat pump, get it serviced so it’s in good working order.
Anything that can improve the heating or ventilation, like extra insulation, double glazing, solar panels or smart technology, will make your home more desirable.
Selling your home can be a stressful experience. What doesn’t have to be stressful is the move into your new home. With Wise Move, you can find hundreds of trusted, professional and affordable movers ready to help. Book your next move here.
We've put together the ultimate moving guide for a completely stress-free home move.
See checklistMoving services across New Zealand All Covered. No Hassle.
Please notify us of any violations. This information will be kept confidential and shared only with Wise Move.
