Over half, in fact, 55% of Australians who renovate or decorate their homes are looking to add value to their properties, according to realestate.com.au’s latest Consumer Intentions Study.
Around 45% of those surveyed believe their decorating and renovating efforts will increase the value of their property by between $20,000 and $100,000.
The September survey also indicated that the most common areas people planned to decorate or renovate were the bathroom, kitchen or outdoor entertaining areas.
About 54% of the 1107 Australians surveyed were simply looking to maintain and update their properties.
Where to start with renovating to sell?
While TV shows like The Block or Love It or List It make renovating properties for profit look easy, which areas of a home should an owner tackle first?
Doing up the bathroom or kitchen is a good place to start says the Reno Chick‘s Cathy Morrissey.
“Most certainly the bathroom and kitchen are key areas to focus on, as long as they are renovated within budget,” she says.
“However, the homeowner must know their numbers on their house so that they don’t over capitalise by spending too much money.”
Improving the outdoor area is definitely important when selling a property.
“Spending some well-earned cash on your front yard has been known to bring upwards of $20,000 just by making some simple and low-cost improvements,” says Morrissey.
“Clean down all paths and driveways with a gurney. Use paving paint to create a fresh, new look without having to spend too much money. A good garden layout with a well maintained lawn will give potential buyers the best possible first impression.”
However on the whole, when renovating to sell, Morrissey advises against focusing on just one particular area.
“I wouldn’t heavily focus on just one area. I’ve bought half-finished homes for under value because a home is valued on the entire home, not just one part,” she says.
“People pick out faults, that’s how we talk down a price of a home. So if you only attend to just one part of the house you run the risk of actually losing money.”
A good paint job can make all the difference. Picture: Getty
Easy fixes when renovating to sell
Many homeowners overlook repairs. Tackling repairs is actually one of the easiest and most affordable ways to ensure your home is ready for sale.
“By far the biggest problem I see, is unresolved repairs,” says Morrissey.
“This seems like a logical step and yet it is very often the one thing people overlook. So fix that broken tile; mend the fence; attend to that dripping tap!”
Likewise, a good paint job can update a tired looking property.
“There is nothing like a good quality paint job to appeal to even the most discerning buyers,” says Morrissey.
“Paint is the best cosmetic improvement you will make.”
