It’s sounds too good to be true, but a recent survey has uncovered one simple $100 renovation that could add up to $20,000 value to your property.
Boost your property’s value by $20,000
That’s not a misprint: the outlay required in this renovation is a measly $100. In fact, you might get change from a $100 note, if you do it right.
A recent survey of homeowners found that Australians use the outdoor area of their home far more frequently for entertaining and relaxing than any other room in the house.
However, a significant 55% of survey respondents said their deck could look better, and almost 10% of respondents felt their deck was either somewhat or completely neglected.
Even more interestingly, when asked how much a well-maintained outdoor entertaining area could add to the overall value of a property, a huge 47% of respondents felt it could increase the price by up to $20,000.
“In recent years, outdoor spaces have truly become an extension of our living areas, but we need to remember that exterior surfaces are exposed to damaging elements like UV rays and need to be given maximum protection to keep them looking their best,” says Natalie van den Akker, brand manager of Cabot’s timber finishes.
While the survey found that almost 60 per cent of Australians admit to neglecting their decks, van den Akker says the problem is easily rectified with a low-cost renovation. Trim back the trees and shrubs, tidy the garden beds and re-stain the decks, and you’re well on the way to an improved outdoor space.
“Most homeowners know that a fresh coat of paint can be all it takes to make their interior more appealing to potential buyers, however these statistics show the same can also be true of their decks,” van den Akker says.
“Some of the common barriers for consumers when it comes to cleaning or coating their decks are cost, time constraints, preparation and inconvenience. Yet, when using a good quality decking product such as Cabot’s Aquadeck, Feast Watson Decking Oil or IntergrainUltraDeck, all it takes is a few hours for the average deck to be refreshed and protected – and for a small deck, the whole job will cost less than $100.”
The survey, commissioned by Cabot’s and sampling 500 Australian homeowners across the country, also found that 13 per cent of respondents haven’t coated their deck since it was built, and only two per cent of homeowners would be prompted to coat their decks in preparation for a house sale.
Current as at December 2011
Source: Your Mortgage