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Top Tips When Renovating to Sell
Newly renovated properties are in hot demand and it's worth considering renovating before you list your property. However, it's important to ensure you're investing in the areas that reap rewards. Here are our top tips.
Do You Need to Engage the Experts?
First up, consider whether you need to engage the services of a design professional such as an architect or architectural designer. Depending on the scope of your project, design professionals can save you money as well as ensuring the end result is top-notch. If you're looking at knocking out walls or changing the layout of your property a designer is a must. Design professionals can also take the stress out of the consent process by preparing the paperwork for you. Think carefully about the cost – benefit equation for any major works before you start. Alterations that add rooms or functions will add value (as long as they’re properly consented, of course), while those that just make a smaller space larger may not stack up quite as well.
Which Renovations Add Most Value?
Modern kitchens and bathrooms are must-haves for many buyers.
While a full-scale kitchen renovation can be costly it can certainly add ‘wow’ factor to your home. For a higher-end result, engage the services of a professional kitchen designer. Money spent on a kitchen renovation is often money well spent as a modern kitchen will likely drive the price of your property up as well as helping to attract more buyers.
If you have a lower budget, there are some easy updates you can make to modernise this space. Consider replacing benchtops, resurfacing existing cabinetry and updating your kitchen hardware, such as door handles and tapware. These changes are often perfect if you are renovating a rental property for sale.
Modern bathrooms are another must for many buyers. An outdated bathroom can be a real turn-off, especially when the colour scheme or fittings are dated. If you’ve got the budget, invest in quality fittings and new tiling. If space allows, consider a statement oversized shower or luxurious bath. If you have a lower budget or are renovating an investment property, you can still make a big impression with small changes. Re-paint in neutral shades, replace the vanity, resurface cabinetry and update tapware for a modern feel. Add pot plants and fluffy towels to give the space a luxurious feel.
Should We Add a Bathroom?
A second bathroom is on many buyers’ checklists. If it is possible, adding an ensuite bathroom and walk-in robe to a master bedroom is well worth considering. A “parents’ retreat” with ensuite and walk-in wardrobe can help elevate your property to the next price bracket. Ensuite bathrooms don’t need to take up much space, but they do need to be well designed. Consider sliding doors and wall-mounted toilets, and keep colours light to give an impression of space. If there’s no room for an ensuite, adding a powder room for guests is another good option.
If you’re going for a larger-scale renovation, consider adding a bedroom, a second living space or redesigning the property to increase indoor/outdoor flow. Although costly, these renovations could make your property attractive to a whole new group of buyers. Remember to consider the complete home renovation cost versus the likely return before committing to renovations.
What Small Changes Can I Make?
Remember you don't always need a big-scale renovation to make a big difference. Large-scale renovations often go over budget and can be stressful to live through. If you have a lower budget or are renovating an investment property, the following add great bang for buck:
- Replacing flooring/carpets
- Repainting throughout in fresh neutral colours
- Updating lighting
- Replacing window dressings
How you prepare your property for its open homes also has a big impact. Read more of our tips before selling your home.
Investing in the Outdoors
When renovating your home don’t overlook your outdoor areas. Building an outdoor room can be a great investment. Opening roofs and side protection can turn an area once used only in summer into a room used all year round and set your property aside from the rest.
Should I Renovate Before Selling?
If you’re looking to renovate a rental property and want some advice on which changes will have the highest impact, contact our expert property management team at email@example.com