If you’re one of the many homeowners wondering whether to capitalise on the current property price boom, you’ll probably be weighing the benefits of maximising your property’s value with a renovation.
You wouldn’t be the only one. In these Covid-times, home renovation has risen 5% this year with an average spend of $21,000.
Most of the money was poured into kitchens, according to a survey commissioned by the website Houzz. Respondents say they renovated because they had more time at home or felt it was a better option than moving house.
As a popular agency in your area, we’re seeing many owners deciding to move because after an intense period of time indoors, they realise their home is no longer fit for purpose. Some move up the property with larger families, while others seek a home office or downsize for lifestyle reasons.
Hot buyer buttons right now are the kitchen and bathroom. There’s no doubt that when these are newly renovated, buyer interest rises dramatically and can create keen price competition, especially at auction.
All renovations set you the challenge of prioritising your budget. For kitchens, consider a quality benchtop first, followed by new appliances, then cabinets with smart storage solutions, and finally flooring.
Here’s a quick guide:
- Island paradise: No renovation is complete without a kitchen island. They command a premium among buyers who appreciate the extra countertop space and additional storage, power outlets and USB ports. Add stools to an island, and your kitchen becomes a social centre of your home.
- Be light, bright: Make sure your benchtops are light and bright. Darker stone and formica are very 80s.
- Get stoned: Buyers want benchtops made of natural stone, such as granite, marble and quartzite.
- It’s a ‘steel’: If you’re seeking a great return on investment, buy the best-quality appliances you can afford. Opt for a stainless steel finish.
- Let there be light: Don’t forget the importance of lighting. Pendant lights over a benchtop are super-hot right now.
- Big ‘drawer card’: Designs that integrate smooth not sharp edges and soft-close drawers are winners. Make these elements a priority at the outset of your remodeling plans.
- Make a splash: Whatever you do, don’t skip installing a splashback. Always opt for glass ahead of tiles as grout catches grease.
- Handling error: When selecting handles and knobs for the doors and drawers, be conservative. Oversized handles will wreck the aesthetic.