As a Buyers Agent, Melissa Louis sees countless mistakes that are very avoidable in renovations, thankfully, she’s giving us the heads up!
How much is too much? Well there is a limit, when it comes to renovations it turns out. Renovations are great to increase the value of your property, but how do you know when to stop? One of the biggest dangers when it comes to renovations is overcapitalisation. This could throw your cashflow and investment plans into the bin.
At the end of the day, we all have emotional attachment to properties, so I’ve decided to give you my top 5 renovation tips to focus on…
Work from inside to outside
An effective floor plan is the essence of a successful design and property. Always think about functionality and access to various spaces before deciding what colour sofa and dining table you should have.
The heart of any home is the Kitchen
Let’s be honest, no matter what age you are, you will spend a large portion of your life in the kitchen. Try and focus on these elements in creating a great kitchen
- Ample storage within your kitchen – you can never have too much of space
- Quality appliances and fittings – remember you want these products to last, not be replaced every year
- Great natural and artificial lighting in your kitchen, no one likes to be in the dark.
- Select neutral colours that you and others may like. Ideally you do not want something that is trendy, but instead something that is timeless.
If you ever are unsure how much to spend on a bathroom, rule of thumb I always use is 1% – 1.5% of your current property value. Budget this amount for your bathroom renovation
For example, if your property is $500,000, aim to spend between $5,000 – $7.500. When renovating your bathroom, try and make one thing standout. Usually it is the first thing that you see, when you enter the space eg. Shower or vanity etc…
Trying to stand out from your neighbours? Front Façade
You don’t want your property to look the same, as your next-door neighbours. Adding a smart façade will turn heads.
A few cost effective examples are rendering, feature wall, cladding etc…
Make everything simple and try and avoid complication, it will save you time and money.
Landscaping adds value
A large portion of the Australian lifestyle is enjoying the outdoors. You do not need to spend a huge portion on fancy items, but a simple, clean and well-maintained outdoor area, will definitely improve the properties appeal.
The most important part is always making an informed decision through trusted guidance and advice. At the end of the day, you don’t want to spend thousands of dollars and realize it did nothing to your property value.
Need to know more or have a trusted second opinion?
Contact Melissa Louis, a buyer’s agent with Interior architecture background for a renovation consultation.