Do renovations really add value to the home?

The answer to this questions is yes… and no. Can a renovation add thousands of dollars to the value of your home? Absolutely. But will every renovation add value to the sale price? Absolutely not. Let us explain.

While every home could do with some tweaking and cleaning before it goes on the market, only strategic renovations (the kind Your Property Profits do) will actually help add value to your sale price. There’s no use in spending countless hours and thousands of dollars renovating the wrong areas of your home. That’s just wasted effort and lost dollars. Instead, you need to take a strategic look at your property as a whole, evaluating where the problem areas might be.

Need more convincing? This is what one of Sydney’s most respected buyer’s agents, Lloyd Edge, Director of Aus Property Professionals, says: “If you can make your property stand out from the rest, then you are sure to generate plenty of interest  and if you have many bidders competing for your property this will push up the sale price for you. A simple renovation could be a quick solution to ensure you gain maximum interest from buyers, but it needs to be the right renovation.”

So, what is the right renovation? Well, it’s essentially a renovation that is carefully planned and well executed. The key is to work out what your potential buyers are looking for in homes in your area. What are the sales trends and what are the kinds of prices homes like yours are attracting in the surrounding neighbourhoods. Then, have a long, hard unemotional look at your home and consider these questions: what is the state of the kitchen and bathroom? Do the floorings, fixtures and paintwork need updating? Is the layout modern? Are your property’s selling points accentuated? Is the styling on trend? Does the garden need work?

If that all just sounds complicated and time consuming, well, it can be. That’s where we can help. The team at Your Property Profits can evaluate your home, identify the areas that need work, and draw up a plan of attack. Then, using our little black book of expert tradies, we can negotiate the best price for your renovation and manage the whole thing from quote to sale. And to make it even simpler, we will handle the costs of the renovation so you don’t have any upfront fees. It’s that easy.

Not sure where to start or don’t have the time (or skills) to do your own renovation? It’s time to consider enlisting the help of professionals to get the job done. Here at Your Property Profits, we want to understand your expectations for your home, so we can help bring you the most value to your property. Find out more or contact us for a chat about your home.