Renovate the right way
Whether you’re spending a few thousand dollars or a king’s ransom, the key to home improvements is maximising the return on your investment. We ask three leading SA real estate experts for tips about boosting the value of your home.
Words: Andrew Rasch
Improving your living space is one of life’s joys. Think of relaxing with a cold drink in your new alfresco area or cooking a spicy rogan josh in your stylish and spacious kitchen – what bliss. Before you start dreaming, consider your short, medium and long-term plans. Are you selling in a year or two, perhaps downsizing in 10 years, or is this your forever home? Your answer has a huge bearing on what improvements to make and how much to spend.
Selling up
You don’t need to spend a fortune enhancing your home’s appeal to potential buyers.
Ouwens Casserly Real Estate sales consultant Cynthia Sajkunovic says if you’re selling, think refurbishment rather than renovation.
“People want neat, healthy-looking lawns and some nice shrubs and ground cover,” Cynthia says.
“Inside, your windows, floors and surfaces should be sparkling clean, and your cupboards decluttered.
“If you have drab curtains, replace them with hotel-style linen versions and consider installing a glass kitchen splashback if yours is looking tired.”
Noakes Nickolas Director Callan Eames says first impressions count.
“People will notice the front of your home immediately,” he says. “If it has a wow factor, it’ll encourage potential buyers to look online or attend an open inspection.”
A change of mindset is vital for any home seller. It’s not about your sense of style and how you live, but what suits the next owner.
“Focus on the floors and walls,” Callan says. “You may love your feature wall but they’re polarising, so painting it white or off-white will attract more buyers.”
“Also, sand and polish wooden floors and replace worn carpets. It’s a small investment with a big return.”
"...if you're selling, think refurbishment, not renovation."
Cynthia Sajkunovic, Ouwens Casserly Real Estate.
In for the long haul
What if you’re staying in your home long-term but want to renovate with an eye on a future sale? Owner and director of TOOP+TOOP Bronte Manuel says upgrading kitchens and bathrooms in neutral colours and natural materials will boost your home’s ongoing appeal.
“Try to use materials like stone, glass and timber when renovating kitchens and wet areas,” Bronte says. “And buyers want big, open-plan areas so make the most of any you have.”
As for installing a pool, Bronte says it depends on what you have in mind.
“The most attractive pools double as water features,” he says.
“They’re close to the back of the house and viewable from the kitchen and living areas.”
“The number of buyers deterred by pools has shrunk, but don’t install one just before selling.”
When renovating, Cynthia suggests visiting open inspections in your area.
“See what features are popular in similar homes and align your place with buyers’ needs,” she says.
“Think of your home’s price point and work towards it. That will help you avoid overcapitalising.”
"Good stylists can make your home look great..."
Bronte Manuel, TOOP+TOOP.
What not to do
We’re all individuals and love personalising our living spaces, but it can lead to renovation mistakes.
“Avoid drastic changes like converting a garage into a bedroom,” Callan says. “A future buyer may want the garage space and will factor in the cost of changing it back.”
Similarly, transforming useable spaces can deter buyers, according to Cynthia.
“Unless it’s your forever home, don’t turn popular features like bedrooms and living areas into home theatre rooms,” she says. “They’re expensive to set up and upgrade and may put buyers off one day.”
Making your home too specific to your needs and tastes is another common trap.
“Colour schemes that are hot today may not be in 20 years,” Bronte says. “And closing off your kitchen to suit your cooking style won’t suit future buyers who want open-plan living.”
Another mistake Callan sees is people thinking they need to start renovations from scratch.
“A brand-new kitchen can be a significant cost,” he says. “But often you can install a new benchtop, splashback, paint the cabinetry and replace some fixtures and still get a great result.”.
I advise clients to aim for a $2 return for every dollar spent."
Callan Eames, Noakes Nickolas.
Style right for big returns
When the time comes to sell, the agents agree that engaging a professional stylist to stage your home can pay dividends.
“Renovating for sale is generally about aesthetics,” Bronte says. “Good stylists can make your home look great in photos and highlight its features and functionality.”
Cynthia says styling your home can help paint a picture for the new owner.
“People want a house to feel alive,” she says. “The right furniture and decorations in the right places will help you achieve that.”
Meanwhile, Callan recommends taking a minimalist approach, so the house feels spacious during open inspections.
“If you have 30 people in your house for an open inspection, you don’t want it to feel cramped,” he says.
“Styling your home the right way will give you an edge over your competitors.”
A final tip
Callan, Cynthia and Bronte all agree that the right advice is crucial, and going it alone can lead to expensive regrets or money down the drain.
“I see people spending big money on features like plantation shutters before selling,” Cynthia says.
“They may look lovely, but they don’t achieve a financial return. An experienced, knowledgeable agent will help you avoid pitfalls like this.”
Callan says with limited renovation budgets, return on investment is critical.
“I advise clients to aim for a $2 return for every dollar spent,” he says.
“You’d be amazed at how much value you can extract from smaller, targeted upgrades and the right agent can help you with that.”
IMAGES: Getty, Noakes Nickolas, Ouwens Casserly Real Estate, TOOP+TOOP.
Need help with your home improvements?
Call in a reliable, expert tradie through RAA Trade Assist.
Visit raa.com.au/trade-assist or call 8202 4988.
