What Renovations are Worth Your Time?

Your renovation wish list may be limitless but your bank account isn’t. Here's some tips to help you make the tough choices between purse strings and heart strings.

Cost is normally the deciding factor when determining a plan of attack for your home reno. To make your budget stretch as far as possible there should be some sort of order to your renovation madness. But where do you start?

For the best return on your renovation spend, you should be selective in your choices, especially if you’re looking to increase your property’s value.

Some common value-adding renovation projects include highly-trafficked rooms like the kitchen or bathroom - although even these rooms aren’t definite money makers.

It's a common misconception that any improvements you make to these rooms will reflect in an increased resale value. In reality, poorly planned works often add little value, with some even having a detrimental effect on a home’s value.

Here’s a quick guide on how you should spend your cash:

Kitchen

Average size: 8 square metres

Average renovation cost: $12,000-$16,000



DO

• Install a canopy rangehood and dishwasher
• Use stone for surfaces
• Keep the design open-plan

 

DON’T

• Purchase expensive fixtures and fittings
• Compromise bench and storage space
• Use an unusual colour palette

 

Bathroom

Average size: 6 square metres

Average renovation cost: $9,000-$12,000



DO

• Install a frameless glass shower
• Lay floor-to-ceiling tiles
• Include a double vanity (if there’s room)

 

DON’T

• Make extensive changes to the plumbing
• Replace a combined bathtub/tub with a shower only
• Overuse mosaic tiling

 

Any renovations that will increase your home’s space are also bound to be worth your time – think extra bedrooms or new patios/alfresco areas.

 

If you don’t want to splash out on major overhauls, there are plenty of other low-cost improvements that could make a huge difference to the value of your property. A fresh lick of paint, some new light fittings or fresh grout in the bathroom can also go a long way.

 

Although you might not be able to do it all, if you take your time to select the areas of your home that would benefit most from a revamp, you stand to boost your standard of living – and bank balance.

by Karina May, Editor of ServiceSeeking.com.au


Read More: http://discover.realestate.com.au