Two Sides of the Coin

Renovating to create a home with wide appeal can lead to a solid return on your investment. TWO SIDES OF THE COIN OF THE COIN

SELLING AFTER PUTTING IN THE EFFORT

QUESTION ONE: Do you have plans to sell a property this year or maybe next? It may be your own home or a home you rent out to others. QUESTION TWO: Are you thinking of giving it a facelift before you sell?

When you are renovating with a sale as the goal, the purpose of renovations is to make the property appeal to the largest possible number of people. Focus your improvements on ways that will make the buyers want to be living in the home. Help them to picture themselves living in the environment.

While many buyers look beyond easily visible enhancement and really will see the value in new plumbing, insulation and ducted air conditioning, the fact is that first impressions really do count for a lot, especially in getting them back for a second look.

DO THESE SUGGESTIONS ADD APPEAL FOR YOUR PROPERTY?

Brush strokes

Giving your house a fresh coat of paint may be one of the easiest and most affordable things you can do to increase value. If, externally, the paintwork is faded and cracked a house can look older than it is and neglected, just as scuffs and chipped paint on walls inside do. Choose on-trend colours without being too bold or bright.

Renders

Cement rendering has become popular as a cosmetic upgrade that can be used on blue board and brick, external or internal house walls and fences. Paint it and give an aging home a contemporary facelift.

Landscapes

This goes a long way for street appeal. Keeping things low maintenance will appeal to most buyers unless your place lends itself to being part of an open garden exhibition. In that case, make the landscape a selling point, but accept that you will be trying to attract a specific buyer-type. Generally, when it comes to landscaping, less is more; so, lawn area over complex highmaintenance gardens, hardy planting over finicky species. Trees can provide a great shade source and give privacy but don’t give the impression that they have taken over the yard. Low-cost cosmetic improvements such as garden beds, paving, redoing driveways and relocating the clothesline are worth consideration. A truly workable garden shed is a good feature too.

Appearances

The front view is often the first thing the buyer sees whether in person or virtually. Take a critical look yourself. New window shutters, front door and letterbox are simple changes that can make a huge difference to the look of your home.

Entertainers

Doesn’t everyone love a functional outdoor area? There are few areas evoking more of an emotional response than a gorgeous deck for dining alfresco. Make it an all-weather space for entertaining and you will have sold your buyers on lifestyle at first glance. Bi-fold doors that open a house up to an outdoor area have appeal and make the home feel larger too.

Conversions

This may involve going to a bit more expense. Consider what potential buyers might think is of most value in your location. For example, if there is already plenty of off and on street parking available, they might prefer an additional room over a place to park a vehicle.

Sensors

A security system may go a long way to improve potential buyers’ perceived value. Modern systems are affordable, user-friendly, and feature smart controls for monitoring the home and managing access via smartphone. This may be an emotional tug, appealing to a buyer’s desire for safety and peace of mind.

BUYING THE LESS THAN PERFECT HOME

QUESTION ONE: Do you see potential in the home? QUESTION TWO: Are you prepared to give it a facelift after you buy?

A FEW SUGGESTIONS TO HELP BUYERS IMAGINE WAYS TO IMPLEMENT DO-ABLE RENOVATIONS

The bones remain

The bones of the house - the construction materials, the windows, the roof – should warrant your attention. If these are good, other things can be changed, updated and upgraded later on.

Focus on whether you like the main characteristics of the property, such as the layout, the room sizes, and the flow of the house. You can easily change the interiors but rarely the bones.

DON’T UNDERESTIMATE A NEW PAINT JOB

A fresh coat of paint makes a world of difference. Try picturing the home that way. Even kitchen cabinets can be given a new life.

Make cosmetic choices

Quick cosmetic improvements like light fixtures and faucets allow you to put your stamp on the home without taking on seriously expensive renovations.

Tackle one room at a time

Assuming you have bought to hold on to for several years, you can upgrade as you go. You don’t have to renovate everything tomorrow. Take your time, room by room.

Visualize the potential

Use technology if you can, such as 3D modelling and virtual staging tools. Look at the home’s surroundings - its neighbourhood - too.