Who wouldn’t welcome a windfall of $50,000? For homeowners seeking to enhance their property, it can be a bit overwhelming to decide where to invest this cash. On a recent episode of The Block, House 4’s Steph and Gian received a boost of $50,000 after winning the Domain Listings Challenge. Along with the cash prize, they had the opportunity to consult with Domain’s Dr. Nicola Powell and national property editor Alice Stolz on how to use their winnings wisely, increasing their chances of a successful auction.
One of the most promising investments? Enhancing a home’s sustainability. Sustainable homes not only sell faster but also command higher prices. Dr. Powell pointed out, “We have found that sustainable homes can add up to $125,000 to the value, with solar panels costing around $15,000.” The popularity of solar panels not only increases property value but also piques buyer interest, as demonstrated in the recent sale of 51 Fordington Way, Murrumba Downs, Queensland.
Can a Swimming Pool Increase a Home’s Value?
But what if you already have solar panels? Domain data reveals that “pool” was the most frequently searched keyword in the past year, with significant percentages in various states. In the Northern Territory, it accounted for a whopping 51.7% of searches. Pools not only add value but also draw in potential buyers. Furthermore, focusing on diverse outdoor entertaining choices can appeal to a broad range of age groups, making your property more competitive at auction.
Having a pool can boost a home’s value by approximately 11.5%, according to Domain research. If you’re considering plunge pools, they generally cost between $13,000 and $15,000 for installation, depending on size and materials.
Showcasing Unique Features in Your Home
Other popular keywords in many states and territories are “shed” and “study.” Modernized turnkey properties are also in demand, as they allow buyers to move in immediately, bypassing the wait times associated with new construction.
Appealing to potential buyers can involve showcasing unique features in your home, such as an attractive facade, a distinctive kitchen, a spacious master bedroom, or a walk-in robe. Energy-efficient homes, practical designs, luxurious bathrooms, and updated kitchens with sleek designs and ample storage are other highlights buyers are seeking.
Investing wisely in your home can pay off handsomely, and with $50,000 at your disposal, the possibilities are exciting. Make strategic choices that not only enhance your living space but also maximize your property’s value. Your dream home transformation is just a decision away!