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Article Moving house? Here’s how to maximise your profit

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Did the walls of your home seem to cave in on you over the holiday break?

Did you promise yourself that this would be the last time you cooked Christmas lunch in a kitchen too small to swing a turkey?

Or maybe it’s getting a bit awkward for Grandma to bunk in Johnny’s room when she stays for the holidays. After all, Johnny is now 16, has posters on his wall that may not be ‘Grandma-sanctioned’ and he no longer fits comfortably on the fold out sofa.

Whether you’re thinking of a mini-makeover or large-scale renovations, you may need to weigh up what’s best for your budget.

Option 1 – Mini Make-Over

How can you get the best ‘bang for your buck?’

Traditionally the bathroom and kitchen have been great ways to add value to a property. So it might be worth redoing them.

Dark, pokey bathrooms sometimes give potential buyers the impression there’s issues with the house – i.e. plumbing and/or mould issues – even though these issues might not exist. Adding a skylight here and there, adding new mirrors or even a coat of paint can make dramatic differences to small areas.

And when it comes to the kitchen, updating cabinetry (or even sometimes just repainting them), replacing benchtops and adding some modern lighting can make a big impact on a little budget.

Sometimes, even a garden overhaul can add significant value to a house or apartment, particularly if you live in a building that doesn’t allow a skylight.

Option 2 – Large scale renovation

What is your house currently worth? What can you add/change to help increase its overall market value? Installing marble in the ensuite as part of a complete overhaul will definitely make your morning shower more enjoyable. However, if the renovation doesn’t add much value to your home (or make the property more appealing to potential buyers when you eventually sell), it may not be the smartest move.

If you decide to build additional rooms, make sure you consider the overall flow of the house. The new parts should fit with the old parts and there needs to be consistency in terms of style. Adding a new open plan living area with polished concrete floors may look amazing by itself, but if your existing home has a colonial style, the new room may just end up looking weird or out of place.

Have you renovated your home? Share some tips with us in the comments.

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Comments

  • I dread the day we have to pack up and move :/ Weve been here for nearly 25 years and have amassed lots of ‘stuff’

    Reply

  • A garden overhaul can make a massive difference to the appearance of a house. A garden is like the cover of a book and you need to entice people to your home with the front cover.

    Reply

  • I would love to do a home renovation, especially the demolition stage. Not so sure on the decorating stage

    Reply

  • Be realistic in how long it takes to do things by your self. And avoid having children home while stuff is happening.

    Reply

  • It is a good idea to seek professional advice what improvements will bring the best results. Some add expenditure but no gain in selling price, especially if prospective buyers have different colour or style preferences.

    • You’re absolutely right! It’s always a good idea to get a professional opinion about what buyers like – even if you’re not in the market of selling right now. There’s no point in putting in a neon splashback in the kitchen now (because you LOVE it!) only to find it turns buyers away when you do end up moving.

    Reply

  • Good advice but you need the money !
    We just moved into a new rented property, no money to buy let alone a make over.

    • I agree, it’s no easy feat to buy a property! Hope you’re enjoying your new place :)

    Reply

  • had a chuckle about the grandma sanctioned posters! – how awkward!

    in all seriousness some excellent advice here! thanks for writing this article

    Reply

  • All good tips.thanks so much!

    Reply
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