BAYLEYS FENDALTON

A project passionwith

WITH MANY YEARS OF REAL ESTATE INDUSTRY EXPERIENCE, BELINDA AND STEVE ELLIS FROM BAYLEYS FENDALTON SHARE SOME OF THEIR TRIED AND TRUE TIPS FOR BUDDING HOME RENOVATORS.

STEVE & BELINDA ELLIS of Bayleys Fendalton

If you have an eye for design, a love of houses and a passion for property, then adding value to a home for resale can be one of the most rewarding projects you ever undertake.

Once you have found a property, always get a building report to uncover any potential game-changers.

Having sound advice from an experienced agent is vital. In a sense, you must work backwards. Firstly, find out what the home’s realistic sales value will be when you go to sell. Then carefully calculate a budget on the works needed, add your ideal profit margin and make your offer accordingly with maybe a little room to move.

A NEUTRAL CANVAS

Neutral walls and floors combined with thoughtful staging will appeal to a broad range of buyers.

Secondly, you have to view the home with vision, imagination, creativity and spatial awareness. Walls may need to be removed to add flow, light and open up spaces, which can be costly and need consent. If you are moving plumbing, then the same applies.

People notice when you take shortcuts, so look with a critical eye at things like doorknobs, hinges and paintwork. It all has to look pristine and be immaculately clean.

Lastly, be aware that you may have a tax liability if you are buying and selling for profit. Getting professional advice is a must, so you don’t get an unexpected tap on the shoulder.

ARE YOU RENOVATING?

Start with these handy tips

+ Kitchens and bathrooms sell a home, so these need to be smart and stylish. There are many options for purchasing kitchen packages which look stunning and can be cost effective. If it’s a high-end home, then always go with stone benchtops, quality joinery and appliances. + Keep colour schemes fairly neutral.

Consider “all-white” to appeal to a wide audience. Add a little touch of pizazz with a feature wall, floating timber shelves, a striking splash back and freshly laid flooring. + You will need to update the heating if required and to double glaze and freshly insulate is a wise idea. + Indoor/outdoor flow and good orientation for the sun is a must to get quality resale results, and this potential needs to be carefully assessed when purchasing. + Think about storage and the insides of wardrobes as buyers will open these to check them out. + Staging will add that extra layer of colour, texture and style when you go to sell. + Electrical wiring may need to be replaced to get re-insurance at sale time if the home is older than 1935.

Buyers are very savvy and want to know what is happening behind the walls, floors and ceiling spaces.