Read article : Tricks for adding THOUSANDS to the value of your home
When it comes to renovating your house, there are a number of simple tricks you can implement to ensure a profit when the time comes to sell.
Justine Wilson, the Director & Principal Stylist of Australian company Vault Interiors, has spent years perfecting the art of interior design, property styling and photography styling to help people boost the value and appearance of their homes.
Here, she shares her tip tips for renovating for profit and some of the biggest mistakes homeowners make before selling.
Justine Wilson, the Director & Principal Stylist of Australian company Vault Interiors, has spent years perfecting the art of interior design, property styling and photography styling
THE BATHROOM
According to Justine, a bathroom renovation will set you back between $15,000 and $20,000 on average depending on the size of the bathroom and quality of finishes.
'If you go the whole hog, think about using large-scale tiles, freestanding bathtubs and waterfall showerheads for a designer look,' she said.
'A grey colour palette paired with natural stone is on trend. If you have a lower budget, think about swapping out the old vanity/shaving cabinet for new, and changing the tap ware for a quick update.
'Spraying old bathroom tiles white is also an affordable way to spruce up your space. These quick tricks will set you back closer to the $3,000 mark.'
According to Justine, a bathroom renovation will set you back between $15,000 and $20,000 on average depending on the size of the bathroom and quality of finishes
'A grey colour palette paired with natural stone is on trend. If you have a lower budget, think about swapping out the old vanity/shaving cabinet for new, and changing the tap ware for a quick update,' she said
THE LIVING/DINING ROOM
The key to adding value to this space, Justine explains, is to connect the zones.
'People gravitate towards open plan living and combing the two areas by removing walls can really add to the feeling of light, function space,' she said.
'Costing will depend on the structure of the existing property, if you require a support beam this can set you back anywhere from $30,000 - $50,000 depending on the scale of your renovation and how much you adapt the current floor plan.
Justine said that for 'a quick makeover' homeowners should consider painting all the current walls white and installing floating timber floors.
'This will be less costly than a full renovation, but will give any home a modern feel. Changing feature pendants lights is also a quick win. Bunnings or Beacon Lighting offers great affordable ranges,' she said.
The key to adding value to this space, Justine explains, is to connect the zones
'People gravitate towards open plan living and combing the two areas by removing walls can really add to the feeling of light, function space,' she said
THE STUDY
According to Justine, studies can add value to a property as so many people now work from home.
The key to adding value here is to 'add ample storage and function' through things like inbuilt bookshelves and a floating desk system.
'Make sure that there are ample power and data points and task lighting is also important,' Justine said.
'Nice joinery will set you back anywhere from $2,000 - $10,000 depending on the material (laminate or polyurethane or solid wood).
'Think about extending your kitchen or wardrobe joinery to create a "study nook" either off the kitchen or in a bedroom.
'Any dead space can be turned into functional space with the right design.'
The key to adding value here is to 'add ample storage and function' through things like inbuilt bookshelves and a floating desk system
THE KITCHEN
According to Justine, 'kitchens sell houses', so kitchen renovations are quite important when it comes to adding value.
'If renovating for profit, opt for mid range appliances and stone counters as the majority of people will be looking for both,' Justine said.
'Cupboards can be laminate if on a budget or custom polyurethane for a more designer edge. Most buyers prefer neutral tones in kitchen design so think white/ greys and avoid bold colours as it can be too taste specific.
'A quality mid range kitchen will usually cost around $20,000. If at all possible try to incorporate a kitchen island (which may mean removing walls) it will be money well spent and will create the open plan scenario buyers like.'
According to Justine, 'kitchens sell houses', so kitchen renovations are quite important when it comes to adding value
'If renovating for profit, opt for mid range appliances and stone counters as the majority of people will be looking for both,' Justine said
'A quality mid range kitchen will usually cost around $20,000. If at all possible try to incorporate a kitchen island (which may mean removing walls) it will be money well spent,' she said
THE GARDEN/OUTDOOR AREA
Justine said homeowners should aim for a garden or outdoor area to reflect the popular 'alfresco lifestyle'.
'If there is potential to add a paved or decked area that allows for an outdoor lounge or dining setting this will add value as it creates usable space,' she said.
'A deck will cost anywhere from $5,000 upwards depending on size but a paved area will be a cheaper option usually around a few thousand.
'When building these areas considering adding nice lighting and some form of cover (either fixed or retractable) to make the area all weather friendly.
'Putting in a few low maintenance feature plants such as yuccas will look nice and fill up empty garden beds with wood chip to make it look presentable.'
'If there is potential to add a paved or decked area that allows for an outdoor lounge or dining setting this will add value as it creates usable space,' she said
THE FAÇADE
Street appeal, Justine says, is one of the most important things to focus on during a renovation as it is the first impression people have of your home.
'Consider painting the facade prior to sale - Colourbond has some great exterior colours,' she said.
'Fix any issues such as damaged fencing, guttering or broken outdoor lights.
'Having a definite path to the front door is key and often overlooked. If you don’t have a path, create one with stepping-stones or hedges and woodchip.
'It may cost anywhere from a few thousand to $5,000 to get the front of your property right - but it is money well spent.'
'Having a definite path to the front door is key and often overlooked. If you don’t have a path, create one with stepping-stones or hedges and woodchip,' Justine said
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