Most people assume that doing a full renovation before they sell will result in a higher selling price. Sometimes this is true, but not always. Before deciding whether to renovate to sell, you should do a bit of research and work out if renovating is right for your circumstances; and what areas you should spend your renovation dollar on.
Here are a few things to consider:
– Does your house lack something every other house in the neighbourhood has? If so, buyers may decide your house is worth less and try to screw you down in price. It might be worth renovating or adding to your existing property so you are on the same game board as all the other sellers in your area.
– If you do renovate, can you add on or change something within the existing footprint of the property? For example, you might be able to turn a formal dining area into an extra bedroom or partition off a section of a large living area to create an office. Of course, only do something like this if the costs involved are less than or at least equal to what you hope to gain, and don’t do it at all if it will result in a weird layout. The last thing you want is for a room to look tacked.
– Research, research, research. Talk to agents, look up www.realestate.com.au or www.domain.com.au and find out what type of buyer your suburb attracts. Is your area perfect for families? Perhaps it’s ideal for commuting to the city, or maybe it’s better suited to retirees. Whatever the demographic, skew your reno towards the things that those buyers are likely to want and need in a house. It’s no good spending a fortune adding an extra bedroom at the expense of an entertainment area if your target buyer is a single who loves to entertain.
– Prioritise what you are going to renovate. Look at the exterior and see what you can do there to trick up the property without spending a lot of money. Kitchen and living areas should be next on your list. Remember, living areas can include indoor and outdoor spaces so utilise all those areas well.
– If you still have enough in the budget, look at the bathroom next and see if there is anything you can update here without too much expense. I rarely advise adding a carport or fixing up a laundry (unless its really bad!); it’s unlikely to add much to the final selling price. Of course, if you think it’s the one thing that will get you on par with every other house for sale in the neighbourhood, go right ahead, but keep your budget tight.
– Keep your renovation palette fairly neutral so that it appeals to a broader market. That doesn’t mean it has to be boring; you still want it to stand out, but you need to strike a balance. You want eye-catching, not off-putting.
– You don’t have to renovate every part of the house. You’ve probably lived in the house for long enough to know all its good and bad points, but a buyer is looking at it for the first time, so you can get away with tricking up and making cosmetic improvements rather than doing a full renovation. Even if a buyer comes back to look at the property 3 or 4 times, the total time they’ve spent there is likely to be only a couple of hours, maximum. That’s probably less time than most people spend researching new televisions before purchasing!
Buyers aren’t going to notice every little detail, so your focus should be making it visually appealing, ensuring it is safe and getting things right for the building inspection.
Building from scratch can be one of the most rewarding things you will ever do. You get to choose absolutely everything about your house. But where do you start? What’s trending on ‘The Block’ this week might be past its use-by date by the time you finish your build, and what’s hot on Instagram next week might be totally impractical for your circumstances.
My biggest tip is to spend some time (and money) getting the layout right first. Either get it designed by a professional (such as an architect or building designer) or get a second opinion on your own designs.
Why? Well, for starters, you’re going to be spending an enormous amount of money building this house, you may as well make sure the design is going to work the way you envision it. The truth is, we often use rooms and spaces in a different way than what we had intended once we are living in them. That cosy lounge room in the centre of the house might become a stifling hotbox in summer, and that light and airy rumpus may end up sending power bills through the roof during winter. What looks great on paper does not always work in reality.
Once you’re happy with the layout, it’s worth your while to get a second opinion from an interior designer on it. We can also advise on colours, fixtures, fittings and finishes and ensure your choices not only look good but remain within the budget allocated by the builder.
When you engage your builder, they will generally allot provisional sums for different elements of the build i.e. they will include a general price for things like electrical, flooring and cabinetry and what have you. You need to be aware of this and make choices that fit the budget. If you go high-end in one area of the house, you might have to go budget in another area of the house, which can lead to an uneven look and feel to the house. Alternatively, going big in one area might mean you try and match it in every area, leading to a huge budget blowout.
Ask your builder if he has specific suppliers he uses and start there. Often, they have 3 levels of fixtures and fittings – an entry level budget option, a mid-range option and a high-end option. Try to choose a range that best suits your house, your budget and your vision.
It can be quite a challenge to get the look you want and it’s easy to get overwhelmed by the volume of choice available. Get in touch with me if you want to have a chat about your new build home. I’d love to bring some clarity to your plans and help you create that fabulous home you’ve always dreamed about!
One of the first decisions that must be made when you are preparing to begin a renovation project is whether to attempt a do-it-yourself project or hire professionals. Each route has benefits and costs that must be considered before deciding which method to utilize. While it is easy to assume that DIY work has the potential to take a project from the red to the black, it is necessary to perform a full analysis to be certain.
Before you decide whether to take on a project on your own, look at the full advantages and disadvantages of each option. The method of project completion that you choose may change on a project by project basis.
Advantages of DIY
The greatest benefit of a DIY renovation is the cost saving involved in providing your own labour instead of purchasing somebody else’s. While it is certainly true that your time and sweat can save some money, be realistic about the savings when determining which way to go with your renovation project.
Some costs included in going DIY instead of the contractor path include holding costs, rework and possible decrease in property selling price. Your holding costs will almost certainly be greater in a DIY project because it will take you longer to complete a renovation on your own than it would take a group of workers. Rework and material expenses may be higher for DIY due to your lower skill level that causes mistakes and waste that would not be expected of a professional. Finally, if your work is not up to par, you can expect a lower selling price due to the substandard finishes.
There is a feeling of satisfaction that can go along with completing a DIY renovation and it has the potential to make an unprofitable project worthwhile. If you are confident in your skills and capabilities as an independent tradesman, DIY can help you earn a substantial profit.
Advantages of Hiring Professionals
While hiring professionals will come with a price tag, it also comes with significant benefits. A team of skilled tradesmen will complete your renovation in a much more timely manner than you could on your own, reducing your holding costs. For expensive projects, this can make an important difference.
Professional contractors and Interior designers will bring ideas and skills to the project that you do not have yourself. They may improve the home design for greater profit potential.
Finally, professional contractors will provide guaranteed high-quality work. Your property will have a new appearance that you can enjoy yourself if your own home – or that competes well against the competition if the home is being put on the market to sell or rent. Unless you are an extremely skilled do-it-yourself renovator, work done by professionals will stand out in the quality of finishes and other areas. This top-quality work will always earn you a higher selling price and/or revaluation.
Probably the best part about renovating or building is choosing the colours and finishes. It’s exciting to have the freedom to choose exactly what you want, isn’t it? But it can be a bit overwhelming too.
Every week I get queries from clients who know what they like but don’t know how to turn their medley of ideas and colours into a cohesive interior design and style. They come to me with folders overflowing with images and samples showing beautiful designs for things like flooring, benchtops, splashbacks, cupboards and wall colours. But, rather than helping to refine their ideas, the sheer number of options has only added to their confusion.
If you’re reading this, there’s a good chance you’ve started your own collection of images or you’re about to. Well, read on because, as an interior designer with over 25 years’ experience and hundreds of design projects under my belt, I’ve learnt a few strategies that will help cut through the confusion to find your definitive design and style.
#1 FIND THE COMMON VISUAL THREAD
When you look at your images, you might think there is no common denominator; all the images appear to be different. However, take another look, and you might find that you have a majority of images featuring airy spaces that are bright, light with lots of white. Or perhaps the opposite is true, and your images are more atmospheric, favouring darker, moody colours accented by gleaming lights. Or your common thread might be the pairing of white and timber, or contrasting surfaces such as textured and polished.
#2 ANALYSE THE EFFECT
When you’ve identified the common visual thread, start trying to work out how the designer has created that effect. For example, do most of the moody bathrooms you favour have dark walls teamed with paler floors and distinctive lighting? Do the kitchens present as a mass of clean white lines with a few timber accents to make it pop? Or maybe it’s a certain style of splash-back that has caught your eye.
#3 INSPIRATION
Once you’ve found the common thread and worked out how the favoured effect is created, you will find that you’re more in tune with your own style. It should then be easier to start selecting colours and finishes. But don’t just copy the designs verbatim. Instead, use the ideas as inspiration for your own space, and you’ll end up with something that feels fresh and uniquely you.
#4 MASTER DESIGN
But what if there really isn’t any common thread in your images? What if you’ve got 30 different pictures in front of you and they all look completely dissimilar? Start by sorting through your images. Choose the one picture you like above all the others. It doesn’t matter whether it’s a kitchen, bathroom, alfresco area or living room, just narrow it down to one image.
Once you’ve done that, identify every single surface and colour in the picture. You’ll end up with a list of materials and colours that will become your master design template for the master room.
Don’t confuse a master room with the master bedroom; a master room is the one room that includes all the colours, finishes and textures from your template. Everything you design will start from this and from here you can begin to select colours and finishes for the remaining rooms.
Don’t worry; it doesn’t mean that every room is going to look like a carbon copy of the one beside it. In fact, the opposite is true.
#5 MIX IT UP
The idea with a master design template is to use only some of the colours and finishes for the remaining rooms, not all. For example, you might choose your living room as your master room, using colours/finishes a, b, c and d. You might design the ensuite next and choose to reuse a and b but add in e, f, and g. On the main bathroom, you could reuse b and d but then mix things up by adding another two new finishes.
Doing this creates a visual theme that links each room, producing a ‘flow’ throughout the entire house.
Design possibilities are limitless, and thank goodness we live in this day and age where colour visualisers and the abundance of images on the internet allow us to glimpse what could be. But you will never truly know what your selections will look like until they are actually there in the house, so advice from a designer can be just the guidance you are looking for.
In conclusion, selecting the right colors for your home can create a balanced and inviting atmosphere. Whether you’re aiming for a calm, vibrant, or cozy feel, thoughtful color choices make all the difference. But don’t forget about your home’s exterior!
If you’re seeking inspiration for modern house facades or single-storey front designs, we’ve got you covered. Explore our diverse facade ideas to enhance your home’s exterior and boost its curb appeal. Visit Hotspace Consultants today to discover the perfect design that complements your home inside and out.
A well-designed home has something that sets it apart from other houses in the street. It’s usually a combination of several factors that work together to create a bit of a ‘wow’ moment when you first see the house.
So how do you create the same thing with your own house? It’s not as elusive as you might think and usually revolves around three things: fences, focal points and landscaping.
Fencing
Have you ever seen a poorly framed picture? One where the frame detracts from the image rather than enhances it? The fence on your property does the same job as a picture frame. Get it right and you will have a beautifully framed property, but get it wrong and everything will look a bit off.
A word of warning – just because a fence on the internet looks great doesn’t mean it will suit your property. Your fence needs to link in some way to the architecture of your house. I don’t mean you have to install something from the 70’s just because your house was built in that era, but you can take one element from the architecture and use it on your fence. It creates a cohesive look and provides an overall harmonious aesthetic appeal.
Focal Points
Creating a focal point is one of the secrets of a well-designed home. Focal points can be created through portico’s, front decking, planter boxes, tile and timber features or paved areas. The purpose is to draw the eye in and lead the viewer to the entryway.
Some ‘front’ doors are situated at the side of the house. If that’s the case, it makes sense to create a focal point around that area. Focal points do not always need to be directly in front of the house.
Don’t go creating too many focal points around the property; it will look too busy and distracts the viewer. Decide what you are going to do as your main focal point and choose the best way to create it based on the architectural style of the house.
Landscaping
Landscaping can go a long way towards improving the aesthetic appeal of a house. Take a good look at your existing landscaping and decide what needs to go and what can stay. Are there areas that could be pared back? Are there areas that are a bit barren and could do with a few plants to soften the scene?
Try to choose plants that will visually balance the property. Balance does not always mean everything has to be symmetrical. Rather, it is about balancing the visual weight of things. For example, a dainty timber cottage will suit fine, slender plants whereas a heavy brick house would be better off with big chunky plants with thick, glossy leaves.
Your landscaping should work with the fence, the focal point and the finish and materials your house is made of. If plants are butting up against a charcoal colour or a dark brick, choose plants with a lighter colour so they don’t get lost in the background. If the backdrop is a lighter shade, choose darker plants.
A lot of landscaping can be done with grasses and non-flowering plants such as Cordyline or Xanadu. Non-flowering plants create a more structured design but will still add colour and variety if you choose wisely.
As the old saying goes, first impressions last the longest so have a bit of fun and create your own ‘wow’ moment.
When you are preparing a home or investment property to sell, the first thing you should consider is how to maximize its value and appeal to prospective buyers. You may be prepared to put some money and sweat equity into your home in order to boost the value but aren’t sure what projects are worthwhile. This is extremely common and around 30% of our clients come to us for exactly this reason. Click here to find out more…http://hotspaceconsultants.com/Pre_Sale_Renovation
The last thing you want to do is take on a renovation that will cost more than the increase in your home’s value. To optimize the value of your home, consider these tips before putting it on the market;
Kitchen
The kitchen is the hub of the home. It is where we spend much of our time and where we tend to gather as a family. This room has the power to make or break a sale, so it needs to look its very best. Even if you do not have a state-of-the-art kitchen, you can make sure that it looks its best. Look at other kitchens in your neighbourhood. Is there anything obvious that yours is missing? If so, this is an important flaw to attend to. You can add small updates like hardware and a now splash-back to perk up an older kitchen.
Most importantly make sure that it is spotlessly clean. Regardless of its true age, this will be your buyer’s new kitchen. It needs to look the part.
Living areas
I believe living areas come next in terms of priority when selling a home. This is generally a cheaper area to get right (compared to bathrooms and kitchen) and people spend a lot of time here, so they will want it to look great and function well for them. Consider bi-fold doors to an outdoor area. Even new flooring and a lick of paint on the walls will make a significant difference.
Bathrooms
Bathrooms are the next most important area after your home’s kitchen and living areas. In a similar way, you should ensure that yours are clean and up-to-date. Paint and inexpensive tiling can cure a multitude of bathroom woes. Add a few new features while keeping the existing layout to renovate without the expense of moving plumbing. Again, cleanliness is vital.
Exterior
The exterior of your property should be well maintained and not look as though it is in need of repairs. This is especially important when selling a home as opposed to renting it out. While renters may be more forgiving when it comes to a home’s exterior as long as the practical needs they have are met, buyers are thinking more long term. Get the big-ticket items attended to as these will be sure turn-offs for potential buyers (or be prepared to reduce your asking price).
Without overspending, you need to create enough curb appeal that buyers will be enticed enough to come inside. All the interior design skills in the world will not sell your house if nobody sees it. Trim trees and hedges, mow grass, and paint the front door a nice neutral colour.
Creating an outdoor living space can also increase the value of your home. An outdoor deck or patio that seamlessly blends into the home’s interior design will make a home feel larger and more open.
Interior
The style and condition of your home should be consistent. Don’t lose a buyer because they love the kitchen but can’t believe the condition of the flooring in the family room. Plan your renovation budget to bring the entire house up to par with buyer expectations.
