June 16th, 2016 in

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Why Bother Doing a Home Renovation?

If you live in Australia you’ll know that Sydneysiders are real estate crazy and absolutely love a good home renovation challenge. So it’s no surprise that they’re always on the lookout for great ways to improve the look, feel and function of their homes.

For most people, it’s very important to have a home that’s not only comfortable but fulfills all their family’s needs. It has to be both a roof over your head as well as deliver incredible value for money. And of course, don’t forget – it has to be simply beautiful!
 

How to Create the Best Home Renovation Possible

 
However, in order to achieve these lofty aims it means you may have to update that drab interior or weather beaten exterior into something more modern and appealing.

But the good news is that if you do undertake a home renovation you’ll most certainly reap the rewards. Not only will your property rise in value, your sense of achievement and pride will skyrocket.

To complete the home renovation you’ll need to deal with contractors, plans and software, all of which can make the process see quite challenging at times.

Although there are some methods you can use in order to eliminate the hassle and make the process more tolerable.
 
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Don’t Forget to Have Proper House Renovation Plans

 
If you have the right planner or plan, you will definitely see that results start to show over time. But without one, it’s highly likely that you will flounder and end up paying much more than you expected. So you do need to have realistic expectations in regards to your renovations.

And remember that not all renovations are easy to perform – so check with your architect and planner first. Otherwise you may find out the hard way that what you’re asking for is going to end up more of a nightmare than a breeze.

It’s best to come up with a solid, achievable idea and guide it to completion. Don’t chop and change throughout or you may end up sorry you started renovating in the first place.
 

Understand Why You Want to Renovate Your Home

 
Some people prefer to opt for an exterior renovation only, whilst others are more focused on the interior area. Then there are people that are highly motivated by the need for more space, while others just want to restore a home to it’s former glory.

And then on the other hand, investors are very focused on the idea of renovating the property so they can get more profits out of the sale. As you can see, there is no end of reasons why someone would want to renovate their home.

It may take a bit of time to figure out what your real reasons are for undertaking a home renovation, but it’s worth it. Otherwise it can be a costly exercise to do for the wrong reasons.

Here are some reasons to help you understand why a home renovation can indeed be a necessity.
 

6 Reasons Why You Should Do a Home Renovation

 

1. You Avoid Moving Costs

 
Moving house is not only expensive, but it can be one of the most stressful things you can do.

Instead of having to move and therefore deal with some pretty hefty costs, renovating allows you to fix up your older home so that it looks just like a new one. Plus, you avoid stamp duty, legal fees, real estate commissions and all those costs associated with selling and moving house.

Not only can you avoid these costs, you can plough them directly into a home renovation instead. Obviously, you’ll need to make sure that all these renovations will be performed to the highest standards with good planning and materials.
 

2. You Boost the ROI of Your Property

 
If you’re thinking about selling or even renting your Sydney property in the near future, renovating might be a very good option.

By making your property more appealing for the market you’ll be able to gain the interest of more potential buyers and tenants (if you plan on renting it out).

Nowadays, it’s a pretty competitive market and sellers can demand higher prices for properties that have that ‘fresh’ look.

Renting your home out can be a great way to make some money – but this depends on your financial situation and whether or not you have somewhere else to live.

Another fabulous option is having your home, or a room, for rent on AirBnB. This has really taken off in the last few years and is well worth looking into. Of course, people expect a lot more than just staying in someone’s unused room. So be prepared to make the space extra special. This is a great reason to do a home renovation.
 
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3. Your Property Will Increase in Value Over Time

 
A properly executed home renovation can boost your property value quite a lot. And even if the property market is dwindling or stagnant, in the long run your home will be worth more.
Of course, it’s a good idea to talk with real estate agents first. They’ll be able to offer you some idea of what property values are like in the area and what return you might expect from your investment. This is an important consideration especially if you want to sell your home sooner rather than later.
 

4. You Raise the Sale Price of Your Property

 
A home renovation makes your property a lot easier to sell.

Of course, if you do want to sell your home after the renovation, keep in mind that other people have very different tastes to you. Neutral colour schemes and a design with a much broader appeal would be what you need to opt for here.

In case you’re in doubt, get some guidance from a real estate professional. They’ll be able to offer you the advice you need. And try and avoid complex renovations especially if you plan on selling the house. Only renovate the things that will allow you to recoup your costs easily.
 

5. Restore Your Home’s Character & Charm

 
Many un-renovated older homes can be very profitable when done up. They also tend to offer a stellar return on investment, particularly if you’ve chosen an up and coming area of Sydney that has a lot of Federation or bungalow style homes.

You’ll just need to study up on their history and ensure that you keep all the original features and maintain their appeal. But at the same time, you should add some modern touches and appliances. Keep in mind that old homes are often harder to renovate and the overall expenses can be higher.
 

6. Making the Property Eco-friendly

 
Green homes are always easier to sell. Thankfully, you can make some green modifications with relative ease these days.

Talk to your local council about potential subsidies or grants for homeowners who make changes that are environmentally friendly. Always keep costs in mind though, especially if you want to opt for energy-efficient models. Some can get very expensive.

There are always plenty of reasons to opt for a home renovation. Just find the right contractors and come up with some good ideas according to your budget. The results will definitely pay off if you do it right!

Enjoy your renovation.

All the best,

James Mason

CHECK OUT THIS BLOG POST FOR MORE: Handy Guide to House Extensions: What You Need to Know Before You Start

 


 

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