Hotspace Blog

Selling up? Home Make-Over tips - where to stop and start

Jane Eyles-Bennett - Wednesday, September 20, 2017

Homeowners wanting to do a makeover on their home before selling, often fall into the trap of the snowballing renovation. You know the sort, it starts with just doing up the bathrooms, but that makes the kitchen look out of date, so you have to do that too.


Then you realise that giving the kitchen a bit of love makes the colour scheme in the living areas look a bit tired, so the paintbrushes come out. Before you know it, you’re talking about ripping up the carpet and putting in new flooring.

The next thing you know, your bank balance has plummeted, you’ve blown your budget, but you still haven’t got a property that will attract buyers.

So how do you avoid overcooking your renovation? Here are five tips to assist you in working out where to start and when to stop.

• Start with the exterior. Almost always. You might have heard it said that people are more inclined to buy if the kitchen or bathroom are done up, but I have a different perspective. (See my previous article Renovating to sell – Don't listen to the Experts). What’s the first thing people see when looking for a house? It doesn’t matter whether they’re looking on the internet or physically driving around, the first thing they view is the exterior. If your exterior is uninviting, buyers won’t even bother to look inside.


• Prioritise . Do the ‘must do’ things first. If your exterior doesn’t need too much attention but your bathroom is atrocious, then it makes sense to spend a bit of money here. If everything is passable, spread your budget around by doing a light cosmetic makeover on several areas. This might be as simple as freshening up the furnishings, doing a bit of landscaping and painting the exterior trims.


• Research. If you’re not sure exactly where to spend your makeover budget, contact a few real estate agents and ask them for an estimate on your property and tell them what you’re thinking of updating. They should know what buyers are looking for and be able to give you a few ideas on where to spend your renovation dollars. Don’t be talked into putting the house on the market without doing it up; you might get a quick sale, but you won’t make the same profit as you would after a well thought through makeover.
• Know who your ideal buyer is. If you’re not sure, ask your real estate agent. It’s no good spending all your money doing up a trendy little main bathroom if your buyer is more interested in a well-appointed ensuite. If your most likely buyer is a young family, they’re probably okay with everything not being perfect, so long as functional spaces work for them.


• Get a different perspective. Approach your makeover from your buyer’s viewpoint and work out what they are most likely to focus on. There is a vast difference between renovating to sell and renovating to live in. You know all the quirks of your house, but a potential buyer is only looking at the appearance and functionality of spaces, so try and see things through their eyes.


Using these tips should have you well on the way to a successful makeover and financially rewarding sale. For advice from our expert team to get you the best make-over result and ultimately the quickest, most profitable sale, read more about our Pre-Sale Home Make-over design service here.

 

                                                                                                            

Renovating your Home or Investment Property?

Home renovations are on the up and up - thanks to all the TV shows and other media outlets such as magazines and the internet.  But is it all that it's cracked up to be? TV makes it look so easy (renovate a kitchen in 2 days, transform your garden in 24 hours - we wish it was that simple!).

If your home or investment property is on the wrong side of 15-20 (years old) then you have a great opportunity to update and modernise it. But without experience on your side, things can (and often do) go really wrong - going over budget, not ending up with the style or look you'd imagined, problems with trades-people, time-frames blowing out - and the list goes on.


Hotspace can help

Hotspace offers one-on-one Exterior and Interior design advice to home owners and property investors.

Property Investors; Our sole aim when working with property investors is to show you how to add as much value as possible - while spending considerably less than it appears when the renovation is completed (ie: spend $1 to add $3-$4 of perceived value). As Interior Designers, we love colour. But colours are only a tiny portion of the information you need to successfully renovate for profit.

Home owners; If your home is old and tired and in need of some renovation love, then we'll show you how to create beautiful and comfortable spaces. We've worked with over 500 property owners on all sorts of properties, so we've (almost) seen it all! We'll help you re-design your biggest asset - often for less $$ than you might think. And as award winning interior designers, you couldn't be in better hands.

The key to renovating your home or investment property without breaking the bank

Whether a full overhaul or a quick facelift, Hotspace will guide you towards your ideal renovation, including;

A second opinion on your plans and ideas - You'll no doubt have some of your own ideas, so we'll steer you in the right direction; confirming your best ideas, introducing new ideas and eliminating the rest.

New ideas and recommendations - We'll introduce you to new renovation ideas to really maximize the result you're able to achieve - ensuring you tastefully revamp your home in ways far beyond what you would have considered yourself. Exterior and Interior Design is our forte!

Spend less on your renovation - If you're afraid of your renovation spiraling out of control, sticking to a reasonable budget just became a reality (yes it is possible!). We'll give you specific guidance on how much or little of your property to renovate given your budgetary expectations. Some of our packages even include budget breakdowns for your entire reno.

Increase the equity in your home or investment property - You can add value and increase the equity in your home or investment property by spending less on your renovation than the value it adds. We'll show you how.

Money back guarantee - Investors; double your renovation investment or we'll refund our fee in full - No questions asked. Note: Our clients typically triple their renovation 'spend' investment so this guarantee is a no-brainer for us!

One-on-one support - Many of our packages include telephone, sms and email support which can be used any time during your renovation.

Which Hotspace Consultation Package is right for you?

We offer 6 different packages depending on your requirements. Click here to see the package options or Phone 1300 908 8901300 908 890.
4 things you MUST KNOW before spending a cent on your renovation.

Free eBook PLUS 7 bonus eLessons.





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