Renovating small homes and apartments before a sale can often be more confronting than taking on the challenge of a large property.
Every decision you make feels as if it has a greater impact. A mistake or misjudgement can feel like a gargantuan setback when a similar outcome might barely be noticed in a larger home.
So, attention to detail is essential in a single-space home or small apartment. It’s also best if you consider beforehand whether any planned changes might need the approval of the strata committee or body corporate. You should check your rights with the strata management company or committee.
Once you’ve done that, consider asking local agents like us for a consultation. We can advise you on the latest buying trends and price expectations for properties like yours both before and after renovation and share the elements of your small home that will command a premium to help you maximise the return on your renovation investment.
Below is a list for some upgrade inspiration:
- If your property is generally in good order, focus on cosmetic improvements. This might include repainting or laying new floor covering.
- Resist the urge to buy premium brand materials, as these can be expensive and do not offer the best return investment compared with equivalent but cheaper products when selling is your goal. The exception is major kitchen appliances such as an oven and stove.
- Focus on the kitchen first. In small properties, the kitchen often forms the all-important first impression. If your kitchen needs some sparkle, replace the cabinet doors, drawers and their handles. If the layout is good, you may not need to rip-and-replace.
- Kitchen covered? Then double-down on the bathroom. At a minimum, it must be clean and functional. Storage is a big plus in a smaller home. Consider updating the taps and showerhead to give it a modern feel. A vanity is easy to replace and not expensive. Work gets a little more serious if you want new tiles, bath and toilet, but it will likely pay dividends. Quality bathrooms are red-hot with buyers right now.
- Consider a dedicated work area. The home office is now an essential element of any home because of the pandemic. You might be able to add a wall and install a sliding door to create a quiet area if space allows. Alternatively, install a work station that you can screen off. Buyers will get the same effect, and you don’t have to break the bank to get it done.