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MORE than half, in fact 55%, of Australians who renovate or decorate their homes are looking to add value to their properties, according to www.realestate.com.au’s latest Consumer Intentions Study.
Around 45% of those surveyed believe their decorating and renovating efforts will increase the value of their property by between $20,000 and $100,000. Where to start with renovating to sell? While TV shows like The Block or Love It or List It make renovating properties for profit look easy, which areas of a home should an owner tackle first?
Doing up the bathroom or kitchen is a good place to start says the Reno Chick’s Cathy Morrissey.
“Most certainly the bathroom and kitchen are key areas to focus on, as long as they are renovated within budget,” she says.
“However, the homeowner must know their numbers on their house so that they don’t over capitalise by spending too much money.”
Improving the outdoor area is definitely important when selling a property.
“Spending some well-earned cash on your front yard has been known to bring upwards of $20,000 just by making some simple and low-cost improvements,” says Morrissey.
“Clean down all paths and driveways with a gurney. Use paving paint to create a fresh, new look without having to spend too much money. A good garden layout with a well-maintained lawn will give potential buyers the best possible first impression.”
However, on the whole, when renovating to sell, Morrissey advises against focusing on just one particular area.
“I wouldn’t heavily focus on just one area. I’ve bought half-finished homes for under value because a home is valued on the entire home, not just one part,” she says. Easy fixes when renovating to sell Many homeowners overlook repairs. Tackling repairs is actually one of the easiest and most affordable ways to ensure your home is ready for sale.
Likewise, a good paint job can update a tired looking property.
“Paint is the best cosmetic improvement you will make.”