If you are considering selling your home and you are looking to get top dollar – there are two key areas that will put you ahead of the competition.
Regardless of the size of your property – apartment, townhouse or family home – the two rooms that will make all the difference are the kitchen and the bathroom. These are the everyday rooms that a lick of paint and new flooring won’t fix if they are in shabby condition. Bedrooms and living rooms can easily redecorated at little expense – these rooms are bought to life by your furniture, rugs, paintings and bookshelves etc.
Kitchens and bathrooms have very permanent fixtures that are costly to adjust or replace so a well-appointed and up to date renovation on either or both of these rooms will help make your property more attractive.
As buyers strive to get the best property for their budget, they are often pushing the limits of their borrowings and have less and less to spend on costly ‘rip-out-and-re-do” type renovations. They will be tempted to spend a little more on a property that requires no major updates for 5 to 10 years than on a property that needs extensive work.
Three tips for renovating your kitchen and bathroom:
1: Update without overstepping
Renovating can be a lot of fun. There are so many options, new products and decisions to make. But the most important question you need to ask yourself is this: Does it fit with the rest of the house? Keep the renovation within the overall ‘feel’ of the house, and avoid going for broke (pun intended) on a best in class showcase kitchen or bathroom – the risk is that the rest of the house suddenly looks dated. Anything you do should enhance the overall effect of the home, not stand out.
2: Who is your ideal buyer?
If you can picture the person you would most like to see buying your house, you can make sure your decisions are in line with what they would like to see. For example: if you are downsizing and are selling the family home, you might imagine a family of four with young children. Is the bathroom safe for children, do you need to add a bath? Are you accommodating for a large fridge in the kitchen? If you are ticking boxes for your ideal buyer, then when they do walk through the door, they may be prepared to spend a little bit more because there is less for them to do.
3: Shop around
The amount of money you can spend on tapware is astounding, however clever selection at discount warehouses and general hardware outlets can get the same aesthetic results at a fraction of the cost. You may not want to go to the extent of designing your entire bathroom around the ubiquitous brass garden tap (which has been done very successfully) however by choosing elements with good basic design you can keep your capital outlay to a minimum, thus increasing your profit at sale time.
Buyers agents are able to help put suitable buyers into your house – they have the information needed to match your property with the right purchaser. They are also able to advise on budget expectation, helping you sell your property to the right buyer at a good price.