Insights

Paul Bond, our director at Hodges Sandringham, was recently featured on Property Observer to advise homeowners on the choice to pre-sale renovate. Once you have come to the decision to sell your property, the idea of renovating to increase the value of your home becomes a pressing issue.

But will the property’s value actually increase enough to justify the time and effort of renovating?

To approach this question, Paul gave us six things to consider.

First, home renovators should know just how much they could afford to spend. The general rule of thumb is that if you can make $3 for every $1 you spend, it’s probably worthwhile.

Secondly, Paul points to an old, valuable idiom that should always be a point of reference for reno-ers: bathrooms and kitchens sell houses. Focus on these areas to get the most out of your renovations.

But homeowners don’t have to go the whole distance to freshen up your property.

Paul suggests that even if a large renovation is not possible, home-sellers should at least invest in doing the little, but important alterations. These include – but are not limited to – cleaning the windows, clearing gutters, painting where necessary and tending to the garden.

But its important to remain aware of the pitfalls of renovating pre-sale. Stick to neutral colours and clean lines to broaden your potential market and most importantly, hire a knowledgeable agent who has the experience in not only selling in your area, but mostly, in your suburb.

To read the full article, click here.