Two experts share their insights
As we all know, renovations can be expensive and some projects cost more than they offer back in return. So, which are the best renovations to do before selling to boost appeal to buyers and add value to your property?
Architect Dana Meadows, who has been designing high-end renovations for over two decades in Melbourne, says it depends on who you’re pitching to. “Understanding the property features that are popular and important to buyers in your area is crucial,” she says. “The scope for a buyer looking at a large, high-end family home will be different to a buyer looking at a small, single-fronted Victorian, for example”.
4 of the best renovations to do before selling
1. An entertainer’s kitchen
With cooking and food intrenched into our daily existence, kitchens are a huge selling point. But with a new kitchen costing upwards of $20k, you want to meet your buyers’ demands to get a return.
Meadows says, “For high-end homeowners these days, it’s all about butler pantries. People want a secondary, functional space to hide away their dirty dishes and clutter while entertaining guests, so their main kitchen always presents clearly and tidy.” Meadows adds, “For families, you can’t go wrong with a large island bench – 90cm becoming increasingly popular. People recognise the place cooking holds in creating bonds and bringing families and friends together. A large island bench enables you to congregate, chat and share the preparation of meals”.
2. Quality bathrooms
Martyn Blakemore of Blakemore Building and Renovations says a newly renovated bathroom is also a big tick for buyers. “Renovating a bathroom can cost anything upwards of $10k,” he says, “Buyers appreciate being able to move into a house at the buying price without having to fork out more on these types of big-ticket items”.
If you have the budget, Blakemore suggests focusing on quality materials, claddings, fixtures and fittings when renovating your bathroom.
3. Cost effective trades
When it comes to renovating, you want to look at how you can use cost-effective trades or jobs you can do yourself to make improvements, such as painting and gardening. Blakemore suggests there are often stunning features in older properties just waiting to be discovered. “For example, you often get the case where you have beautiful timber floors hiding beneath an old carpet,” says Blakemore. “All you have to do is peel back the carpet, re-sand the surface of the flooring and you get a really nice polished finish that completely transforms the space”.
4. Adding natural light
By nature, we tend to love light spaces. They lift our mood and make us feel connected to the outside world. Blakemore suggests that adding a skylight to a dark, poky room changes the whole ambience and adds a wow factor without spending too much. Skylights range in price from as little as $250 to $1600, with the cost of installation ranging from $300 to $3000 depending on the scope of the job.
Want help selling your property once you’ve finished renovating? PropertyNow can help you sell your house online saving you tens of thousands in agent commissions allowing more funds for you to play with to get your property in top selling shape! Call the team now on 1300 664 773.