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Top 10 Tips on How to Renovate for Profit

Renovating your home can be both satisfying and financially rewarding. Such a cleverly planned venture can add great value to your home. If you’re looking to renovate your house for sale, consider these top 10 hints that will bring you a better price on auction day.

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1. Carefully Organise Your Renovation Plans

Creating and implementing a good plan will ensure you make the most value from your renovation. Consult with experts such as real estate agents - they know what is sought after in the market and can assist you with your ideas.

2. Include an Extra Bathroom in Your Renovation

No one will ever begrudge an extra bathroom. An additional toilet and/or shower go a long way in a family home with several bedrooms. If you’re short of space but have a large master bedroom (or adjacent hallway space), you could consider installing an ensuite instead.

3. Create Additional Storage Space in Your Home

Storage solutions are an often-neglected element of home design, but a relatively cost-effective way to add value. If you have wasted space under stairs or an extra-wide hallway, consider creating discrete cabinets or cupboards. Walk-in-robes are a great asset too.

4. Make versatile areas part of your design plan

Open plan designs are trendy for a good reason. They allow you to maximise what you’ve got and create a sense of space. If you have two pokey living rooms, think about knocking out a connecting wall to create a larger, brighter multipurpose space. You won’t regret it.

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5. Build and Buy Materials to Last

Homebuyers want to know that their investment will last. Using durable materials and choosing your appliances wisely will encourage people to up their offers. Respected brand name appliances will add value to the property as a whole. If you decide to invest in structural renovations, don’t scrimp. A good builder and materials will ensure the quality of your renovations.

6. Try to Integrate Energy Efficiency

With the spiraling cost of utilities, houses are becoming more energy efficient. Lowering your home’s energy footprint is a sensible investment. When looking at new appliances, consider the energy ratings. Don’t be afraid of the investment. For example, solar can seem pricey upfront, but pays itself back in the long run. You’ll not only decrease energy bills but also possibly start getting back credits. Installing LED lights will save you money in the long run too as they have an 80%+ energy saving and should never need to be changed.

7. Install Heating and Cooling Systems

Australia has a lot of different climates. Your home will be more appealing if you have heating or cooling appropriate for your area. Reverse cycle air conditioning is good for temperate regions such as Victoria. Insulation is also an important component that will help regulate temperature – try to make sure yours is up to scratch.

8. Utilise Unexpected Spaces

A clever floorplan and use of wasted space will result in additional rooms and extra value. Consider turning the attic area into an extra bedroom, or transform a weather-tight garage into a granny flat. This is often cheaper than constructing an extra room, and adds architectural interest to your home.

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9. Make Your House Child-Friendly

Young families are an important segment of the market. Making your house safe and secure will appeal to them. Ensure you have proper railings for stairs and balconies. You should also remember that fences are compulsory around swimming pools.

10. Stick to Your Renovation Budget

No matter how impressive your renovations are, if you go over-budget, it’ll eat into your profits. Be conscious of what you can afford and invest in features that maximise return. If you decide to undertake a very expensive improvement, take the time to calculate whether it’s really worth it.

Author Bio: For your upcoming renovation, contact the Temporary Fencing Shop. We can arrange and deliver all the fencing you need to keep your build site secure. Call us on 1300 119 998 or visit our website for information.

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