How to spend money on renovation before selling
So the time has come to put your house on the market.
Maybe you have outgrown the family home and it’s time to upsize, or maybe you’re relocating to a new suburb a stone’s throw from your current neighbourhood, or maybe you’ve decided to sell up so you can travel the world.
Whatever your circumstances or reasons might be for selling your house, a typical dilemma that homeowners face at this juncture of their lives is deciding whether or not they should renovate their home before selling.
After all, an effective renovation might lift the value of your home and increase your profit margin when it finally goes under the hammer. And let’s face it, a little extra cash wouldn’t go astray as you transition into this new phase of your life, would it?
If you’re one of those people, you can stop agonising, because the suffering is over. We have a solution to your problem.
In this article, we share five simple, cost-effective tips to spruce up key areas in your house, so you can achieve the highest sale price with the least amount of expenditure.
1. The kitchen
The trick to getting the most out of your kitchen is to revamp rather than to replace.
If you’re limited by a really tight budget, there are affordable ways to give your kitchen a new, revarnished look.
For example, at a cost of no more than a few hundred dollars you can resurface the cabinetry in your kitchen with laminate paint, which will add a much-needed shine to an otherwise outdated and lacklustre storage space.
However, if you can stretch your budget up to several thousand dollars, you can make your kitchen feel as if it has undergone an entire reconstruction.
Remove cabinet doors as well as visible end panels and replace these with new ones to create a modern, transformative look that is sure to please the eye.
On top of this, you can resurface the benchtop and install new tapware and handles. These small modifications are sure to add some sparkle to your kitchen and make a much stronger impression on potential homebuyers, without you having to go full-reno-mode on it.
2. The Bathroom
Again, it isn’t an overly difficult task to make your bathroom sparkle like new.
The trick is to create the illusion of newness through making small cosmetic changes, rather than going all out with a demolition team and wrecking ball.
For example, if your bathroom tiles remind you a little too much of Nanna’s house, you can resurface them with a bit of tile paint rather than replacing the tiles themselves.
You can slap this paint on yourself, but for the best results you’re probably better off hiring a specialist so it comes up squeaky clean and with the best possible finish.
If you are determined to retile and you have the money to do so, don’t be deterred, but beware that should you choose to move forward with this plan, you will need to get the bathroom re-waterproofed, which can be a costly exercise.
Furthermore, if you’re going to update tapware and handles, make sure you select consistent shapes and styles that complement the overall design to give the bathroom a sense of uniformity and a modern visual appeal.
3. Your Home’s Exterior
The first thing potential homebuyers will see when they pull up outside your house is its outward facing façade.
This is why it’s super important to make a good first impression.
The way to achieve this is to apply a fresh coat of paint to your home’s exterior and paint trimmings such as eaves and gutters with colours that either contrast gently with or complement the home’s primary colour scheme.
Other simple, cost-effective things you can do to liven up your front yard is to replace the door knob, tidy up any garden beds, mow the lawns, and replace the letterbox.
You could even purchase a cute outdoor setting to place on the front patio so that potential homebuyers can imagine themselves sitting there long into the afternoon on a warm summer’s day (don’t worry you get to take the setting with you when you move one!)
4. Blinds or curtains
One of the simplest ways to update your home is to get rid of those heavy, antique drapes hanging over your windows.
Replace them instead with white office blinds fitted to the size and shape of the window or, if you can afford it, timber venetians.
These most definitely create a feeling of expansiveness within rooms and add a more modern quality to its exterior.
A bonus to this option is that you can whack them in yourself in almost no time at all and with very little fuss.
However, if you’re feeling as though you’re not up to the job, we advise that you hire a professional or get in contact with a handy friend to achieve the best possible outcome in fitting your blinds or curtains.
5. Replace or update your floors
There are hundreds of homes on the housing market that are begging for their floors to be replaced.
Whether that is because their floors are in a poor condition, or they have simply aged and lost their style over time, the floors need to be replaced if you want to attract a potential homebuyer.
Natural stone and timber floors look exquisite and are sure to add value to your home, but can also have enormous price tags attached to them.
However, this doesn’t mean you can’t update your floors. There are affordable options out there such as laminate flooring that deliver a high performance at a fraction of the cost.
The Swiss Krono Laminate Floor and Swiss Krono AquaStop ranges, for example, give the illusion of natural hardwood floors, minus the wood and therefore the price tag. In addition to this, they have endearing qualities such as scuff and water resistant outer layers that are sure to please even the pickiest homebuyers.
Whatever you choose to do, it’s recommended that you install the same style of flooring throughout your entire house to create a look of uniformity.
Poor flooring can be a limiting factor in achieving the highest possible price for the sale of your home.
If you can afford it, do yourself a favour and restore your floors to full health by swapping out any floors in need of repair with newer, more welcoming ones.
When we think of the word ‘renovate’ images of demolition, sledge hammers, wrecking balls and hard hats immediately comes to mind.
But this does not have to be the case.
Of course, there are times when the old most definitely needs to be replaced by the new, but rather than adopting an all-out, gung-ho, all-or-nothing attitude towards our homes, we can instead choose the milder (and sometimes wiser) option of redecorating and resurfacing instead.
It is a common fear when preparing to sell your house that the risk you take in renovating your home may not translate into rewards or profits.
However, if you take a well-planned and gentle approach by utilising the tips we’ve recommended above, you can most definitely achieve the best possible outcome for your bank account, as well as getting the house into shape for its new owners.
Now go forth and make your decision, and good luck with the renovations!