When renovating your home for resale, it can difficult to know where to spend your time and money. You’ll want to balance between increasing the value of the house, as well as spending within your means and not going over your budget. Here are a few tips to keep in mind when renovating for resale.
1. Know and understand your market
Before jumping into renovations of the home, it’s important to know who you’re renovating for. Are you looking to sell to a family, students wanting to flat, or a couple of working professionals? Having a buyer in mind and making your renovation choices based on who you’d like to sell to will make the house more appealing to your preferred type of buyer and making selling the home a whole lot easier.
2. Renovate the kitchen
When they say kitchens sell houses, they’re not wrong! It’s the heart of the home, and many home buyers look out for homes with a decent sized kitchen that is modern, with quality bench tops and plenty of storage space. Kitchen renovations can be a little expensive, however, the point here is not to go overboard. If your current kitchen isn’t in any serious damage, it’s better for you to simply give your kitchen a ‘facelift’ by replacing the bench tops, handles, taps and splashback.
3. Update the bathroom
Nothing’s more of a turn off for home buyers than an old and worn out bathroom. Updating your bathroom with a fresh, clean look goes a long way when it comes time to sell. Not only does it add value to the house, but it can also protect your home from water damage and other wear and tear issues.
In today’s market, majority of home buyers find a second bathroom or toilet compulsory. If you’ve only got the one, you may need to consider adding another one in.
4. Freshen up the home with paint and furnishings
A fresh coat of paint can help your home look almost as good as new. Picking a neutral colour is the best way to go in attracting more buyers, brightening the room, and removing any obvious signs of wear and tear.
Your decor and furnishings are also an inexpensive way to boost the look of your home. Whether it be a new coffee table, or new pillows and blankets for the couch – adding these finishing touches can make your home look more attractive to potential buyers.
5. Spruce up your outdoor areas
Even a simple clean up of your back and front yards can do wonders in making your property look a little more fresh and new. Upgrading your deck and doing some basic landscaping doesn’t need to be overly expensive – it can even be a DIY project. Your garden is often the first thing buyers see, so focus on improving the overall visual appearance of your outdoor spaces to give your home a boost of appeal.
6. Make the home more energy-efficient
Increasing the home’s energy efficiency rating is a huge plus for potential buyers – both from a cost-effective and environmental standpoint. Things like insulating the walls, floors, ceilings, and adding a heat pump will help reduce future energy costs for your future buyers. If your home is located in a busy area with a lot of street noise, updating your windows with double glazing can also make your home more appealing for sale.
Planning for renovation and resale can be overwhelming, and require a lot of time and effort. So before you dive into renovating, check out our blog to learn a few things you should know before getting your hands dirty.
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