Giving your home the boost it needs, a home refurbishment offers a multitude of benefits – but only if done correctly.
According to Realmark North Coastal Sales Associate Ian Masterson, presenting a home in its best light opens it up to more buyers.
“By presenting a home as best you can, you limit the objections a buyer can put forward on why they want to purchase the home or, for that matter, pay the price you want,” he said.
“The less a buyer has to negatively comment on, the harder it is for them to justify what they want to pay, rather than what a seller would like.
“Also by presenting well, it opens up the market and creates more interest in the property.
“More buyers equals more competition, which equals a better price.”
However, Mr Masterson said it came down to the amount spent on the refurbishment when determining whether a renovation was worth it.
“The cost of the renovation is the deciding factor, usually,” he said. “Is the owner doing the renovation themselves? “If someone has the skills to do a professional-looking job, that almost will always get you the money back.”
If you do have the skills to deliver a quality home renovation, Mr Masterson said to go in with a plan and execute it well.
“Renovations are usually best done when it is thought out in advance,” he said.
“Uniformity and consistency is key – pick a theme and stick to it.
“We all have a budget to maintain – sometimes we are lucky and we can do the renovation all at once, but most of us do it as we can afford to and that’s fine as long as you think ahead and don’t renovate things you will later have to alter, thus wasting money.
“The biggest mistake is the renovations people do to save money are really not of good standard.
“Tiling is a great example of this – good tiling looks sensational but new tiles laid badly just look like a job that has to be ripped out and started all over again.”
Mr Masterson highlighted the upgrades that would help your home stand out when you listed it for sale.
“Fresh paint in light colours always helps,” he said. “It looks clean and crisp, and light colours make rooms look larger, lighter and brighter.
“Updating tapware fittings, towel rails in bathrooms, assessing if your window coverings are correct and ensuring there are uniform light fittings through the home are all good places to start to make a difference without spending massive amounts of money.”
Mr Masterson said the hardest refurbishment to undertake was floor coverings.
“They can significantly alter how a home looks but, equally, there is some risk in installing something that the next owner won’t like,” he said, adding that it is important to do your floors last to keep it uniform for flow.
“A mishmash of different styles and types, even if it is not the original, is still a mishmash of different floors and doesn’t look great.
“And there is nothing more frustrating than ripping up new sections of floor coverings because you change a kitchen or remove a wall.”
Mr Masterson said renovating the outdoor area of your home had incredible benefits for its resale value, with the upgrades often being cheaper than the interior.
“Outdoor entertainment area improvements make money if they are done sensibly,” he said.
“They are cheaper to construct, provide wide appeal and, on a smaller home if they are done right, can provide extra living space that is useable year-round.
“All of a sudden your home, which doesn’t really have enough living space, can have a brilliant outdoor area with blinds, fans and heaters, becoming like another lounge that is more relaxed and informal.
“I see homes all the time that sell above expectations because they have an outdoor area that people really get into.”
Erick Lopez
The West Australian
Mon, 4 April 2022 12:00AM