Thinking of renovating - here are some things to consider

Not all renovations are created equal; some will send a property’s value sky-rocketing, while others can do little or nothing to increase the value.

Renovation guru, Renovating for Profit’s Cherie Barber, explains which renos may not add value or can even lower a property’s value. “If you can’t see the work that has been done, then it’s not going to add the same value as say a freshly-renovated bathroom or kitchen,” she says.

Barber recommends focusing on ‘work you can see’, like paint, which is one of the cheapest ways to make a radical difference.

“Rather than putting in a new driveway, I’d consider using paving paint to spruce up an old concrete driveway. You can tint it to any colour, spending $100 a tin versus a few thousand for a new driveway,” she says.

“For an old bathroom, you may get away with painting the tiles, bath and vanity using specialty paints. If you go splashing around money on things like a new roof, rewiring the whole place or needlessly moving around plumbing when you’re renovating a bathroom… these are costs you are unlikely to see any real return for.”

Fancy fittings and fixtures

“You don’t need to spend on things like fancy tapware, light fittings and window dressings. These are all items you can buy cheaply and they’ll look great,” Barber advises. 

Immaculate landscapes

Barber says expensive landscaping is unnecessary when renovating. “Just aim for neat and tidy,” she says.

So, what is likely to add value?

Barber says there are three key areas to consider when looking at ways to add value to property: renovating the bathroom or adding an extra bathroom, renovating the kitchen, and creating an open plan layout. If a property has more than two bedrooms, people usually expect two bathrooms – the main bathroom and an ensuite. 

“And establishing a connection with the outside is really important too, whether it’s building a deck or creating a beautiful courtyard or patio,” Barber says.

“You want it to feel like an extension of the inside. To keep costs down, you can go for simple French or sliding doors, rather than stacking glass doors.”

This article was originally published on realestate.com.au as ‘The renos that will decrease or do nothing for your property value’