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Renovating in the current property market
NineYards Consulting project andconstruction manager Jen Jones. Photo/Supplied
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Ruby Harfield
NineYards Consulting project and construction manager Jen Jones, who specialises in homerenovations, speakstowriter Ruby Harfield about renovating in the current housing market. What are the top reasons to renovatein this property market? In this current climateit would be an issue with supplytothe marketso actually findinga replacement house once you’ve sold ismore difficult withlessproperties on the market; also property pricesare on the low side so depending on when a homeowner purchased they might end up selling ata loss so may be better offholding onto the property as they’re more likelyto get their investment back. What arethe best places in your hometorenovate? The kitchen andbathroom are usually theeasiest places to addvalue, whether it’s a straightrenovation or anextension/opening up of space, but also don’t underestimatethe benefit ofa beautifullylandscaped front and backyardtoo. What aresome tips whenyou decide to renovate? Behonest with yourself (andcontractors) about budgetup front and make sure you plan, plan, plan.Understand the risks areas for budgetblowouts and makesure the invisible stuffis invested in too. Things like insulation, wiring, plumbing, ventilation they’reall just as important as thecosmetic renovation. Always havea contingency. What is worth splurging on? That really depends on how long you’re going to be in the property. In a forever home, it’s worth investing ingood quality tapware.Also thinkabout use and splurge on fixtures and fittings that arehigh trafficor touch and down spec inotherback of house or lesser used placestomake your budget stretch further.
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