4 Areas of Your Home for Getting the Most out of Your Renovation
When renovating, whether looking to sell now or in the future, getting the best value for your money is at the forefront of your mind.
There is plenty of evidence to suggest that renovating adds value to the sale of your property. While quantifying it can be difficult, a survey by REA in December 2020 discovered that 84% of people selling their homes did some renovations.
The survey also revealed that sellers felt they had an increase in their sales price.
Doing a few minor renovations of your home helps it look well looked after and if paired back, can present as a blank canvas for buyers to add their own flair.
Also adding functionality to a home for sale – such as larger windows for natural light or another bedroom, the impact on price is bound to be positive. What pulls all this together is knowing what to spend your money on and when to stop.
This article has looked at 4 areas of your home where you can best spend your money when renovating for sale.
1. Getting the Most From Floors
According to the same survey, 19% of people selling their homes took the opportunity to renovate their floors. Each of these people believes their selling price was positively impacted.
The results also indicated it was second in line in popularity as an alteration made, the most popular being paint. The first thing someone is bound to notice when first entering your home is the floor, so updating this will make an impact.
Quality flooring instantly leaves potential buyers with a strong first impression and a nice carpet floor for the bedroom give people a feeling of warmth when potential buyers step in.
2. Kitchen Spaces
Two impact areas are kitchens and bathrooms, but they also happen to be an expensive undertaking.
Having a sound understanding of the potential buyers of your home will help you get the most from your kitchen renovation.
If you live in an area where market prices are low, spending $40K – 80k on a kitchen renovation will not get you the return you’re looking for. However, in a premium location, you’re more likely to benefit from a more expensive finish.
An extensive reno isn’t necessarily required to add value to your home, and a few minor changes such as changed cupboard handles or changing benchtops can add new life to this space.
It’s often recommended to change benchtops if they look old, and materials such as reconstituted stone look fantastic and are no longer the expense they used to be.
If you’re going to misplace any tiles during the process, use a modern glass splashback for an easy and less expensive option.
Choosing a hybrid option requires less time and financial input if you need to replace your tile flooring.
3. Add Potential to Bathrooms
There’s no denying that renovating a bathroom is expensive. However, if buyers feel like the bathroom needs renovating, they are likely to take your home off a list of potential places for them to buy.
Making the decision of whether to renovate your bathrooms or not takes some thought. If you are going to undertake it, you need to be selective about your choices.
Deciding whether to spend $200 on an item compared to $2000 can be the difference between blowing your budget and making a sale.
4. Getting Light from Windows
Natural light is essential to showcasing our home when selling. It has a significant impact on the buyer and helps your home look airy and light. This doesn’t mean we recommend adding skylights or more windows because there are less expensive ways to achieve it.
Having less furniture that’s bulky, reducing clutter, adding a lighter paint colour and upgrading blinds or curtains. Replacing coverings for your windows to more modern drapery can elevate a room and give it the look and feel you aim to achieve.
A JOB FOR THE CARPET PROFESSIONALS
- Choose samples from our incredible carpet range in store.
- Book your free In-home consultation and quote with one of our dedicated flooring specialists, just give us a call on (02) 9648 2826.