RENOVATION FOR RESELL PURPOSES
When we were approached by the owner of this beautiful (but dated) 3 bedroom unit in Bondi they were not sure what to do with this place … to sell or not to sell?
Once a decision has been made to put a property on the market, thoughts turn to how to get the best return - To renovate or not to renovate? And if to go forward with the renovation, how much is too much …
All Those are the question vendors often ask, however the answers are not always straight forward.
Calculated Pre-sale renovations generally increase the value of a property and are sometimes necessary in order to reach a target market and to be compatible with other properties on the market in the same area.
- Don’t over capitalize
Make sure every dollar you spend counts and will return the investment The general rule is, if you can make $3 for every $1 you spend it’s probably worthwhile.
- Kitchen and bathrooms
Kitchens and bathrooms are two areas of a house that tend to have the largest impact on sale prices, start your budget calculation with this in mind.
- Appeal to the masses
Best to stick to neutral colours and clean lines.
Pictures are worth thousands words and the “turning table “ effect speak for itself , no wonder this vendor has decided not to sell and enjoy the stunning results ...