The Renovations that Will Make You a Tidy Profit when you Sell Your Property

Which renovations are the most profitable when selling your house?

It is safe to say that not all renovations can offer you the best return when selling properties. Some changes are expensive and will cost you more than they will ever give you back. This is why we prepared this article to help you learn about the renovations that will make you a tidy profit when you sell your property and, at the same time, will add value to your home.

Bathrooms

The average number of bathrooms in a new home has steadily been increasing over time, and this is evident in the renovations market nowadays. In order to keep up, doing some updates to your bathroom or even adding one, could be a great idea, according to your finances of course. Remember that bathrooms are an area that buyers have strong demand for, and desire them to be clean, modern and stylish. However, it  is important to have a clear budget set out from the beginning and stick to it, as there are many components to a bathroom and its easy to over-capitalise.

Kitchen

Replacing or updating the kitchen is one of the best renovations you can do for profit. For instance, going with a modular kitchen can be a cost effective and fast way to improve the comfort and livability of a house or apartment. We do suggest using a professional kitchen builder, as they will supply and install the cabinets as well as offer you a warranty. For a basic kitchen that covers the electrical, plumbing and tiling, it can cost as little as $10,000 which can add enormous appeal and value to your property. Although for a high spec kitchen, it can be significantly higher than that, the quality of kitchen renovations required depend largely on your individual property price range and buyer demographic. It is crucial to take note that having a well designed kitchen and bathrooms will offer you a great return on investment, given that buyers don’t need to do any more work; they can just move in.

Repainting

Another way you can show off your home’s qualities is by repainting. Aside from it being one of the most powerful renovation tools, you can also instantly modernise and refresh a tired property with a coat of paint in a contemporary colour scheme. Repainting is one of the most cost effective renovations you can do to your home. It is often the renovation that will add the most value to your sale, for the least outlay. We do recommend to take colour advice on board from painters and master decorators, as they are doing this work everyday and are aware of current trends in the market and have the experience of what schemes will and won’t work. Always remember that light, bright and neutral colours will appeal to the widest possible range of buyers.

Street appeal

Possibly the most underlooked home improvement, that can add immense value to a house; is street appeal. Standing at the front of your house and looking at it through a buyers eyes is always beneficial when preparing a home with selling in mind. Imagine having a great number of potential buyers that are enticed through your door; this will surely ensure you that the sale price meets or exceeds your expectations. Considering elements such as the front door, garage, modernising cladding materials, or colours are a great place to start.

Replacing with a new modern front door can add a lot of value for a fairly low cost outlay. Even painting the door and front fence with a rich oil-based paint will give it a big lift. Make sure the front garden is also tidy, lawns mowed and beds weeded. We also strongly recommend a pre-sale garden mulch to spark your garden beds up and make them look fresh and well cared for. Some other repairs that can add value for low cost outlay are adding a new house number and/or replacing your letterbox. You would be surprised how much impact low cost improvements like these can have on your overall street appeal and property value.

Outdoor area

Upgrading outdoor areas to a more indoor outdoor living is the new trend. If you have an outdoor area, consider making it as an extra room or an all-weather extension of your house. A well designed outdoor area can be an emotional driver for potential buyers as soon as they see and imagine themselves using it, afterall here in Brisbane we love the great outdoors. Potted plants can add a touch of greenery, refresh any timber decking or railings with a new coat of decking oil. It can even be as simple as pressure washing your concrete or tiles. The more usable and livable your outdoor space is the better.

When selling your property and doing any home renovation for profit, always plan with a broad audience in mind, instead of focusing on too many personal preferences.

We also caution against poorly done DIY renovations which can sometimes be off-putting for buyers. Always consider seeking help from a professional to maximise your home’s appeal and to showcase your property’s best assets.