Looking to sell your property this year but unsure how to get the best price? Pre-sale renovations are a great way to make sure your property is snapped up for a better market value.
So, what do you need to know to help maximise your investment without breaking the bank?
1. Don’t overspend Renovations are like weddings, it’s easy to overspend. Always remember that the name of the game is to get a return on your renovation investment, so only do what is necessary. Leaving some room for the new owners to do their own redecoration isn’t a bad thing. Low-cost cleaning and repairs are a great way to get your property looking its best at a reasonable price.
2. Plan for your market When renovating, it’s important to know your market and target home improvements accordingly. Families are typically seeking multiple bedrooms, plenty of living space with outdoor areas and room for storage. Older couples will look for single-floor living, accessible bathrooms, and modern conveniences like air conditioning and double glazing. Aligning your repairs with the needs of your market will help your property get off the market sooner.
3. Focus on bathrooms and kitchens A good kitchen and spotless bathrooms can sell a house. Though rooms with less plumbing like bedrooms and living spaces are much cheaper to do up, neither will return your investment like flawless bathrooms and kitchens. High end shower fittings, easy to clean surfaces and a neutral, uncluttered pallet are major attractions for bathrooms. A similarly calm, inoffensive colour scheme is advised in the kitchen with plenty of storage space and modern appliances.
4. Don’t blindly follow trends Trends are in every home décor magazine but avoiding trends more often than not gives you the best results. To get the right balance and aesthetically pleasing look you are better understanding the features of your unique property. For example, how can you work with the amount of natural light in certain rooms to make a more open feel and which colours suit the space in relation to fixed furnishings? By following trends, you risk distracting buyers from the unique characteristics your house has to offer.
For more information on how to maximise your property investments, talk to our team today.