Renovating? Don’t overcapitalise if you’re planning to sell
- Written by
- Rachael Webber
Renovating aspects of your home can certainly add value for when the time comes to sell.
But you need to be careful of not overcapitalising – which is undertaking any work that won’t actually encourage people to pay more for the property. So here’s my top tips on making sure any changes you do make to your home will be worth it in the long run.
Know what buyers are looking for
And understand what they aren’t! It’s important to find out what people actually want in a new home – so you know if it is a change worth making. Otherwise, you may not get the investment return you were expecting.
Keep it simple & neutral
Don’t go all out adding lots of unique design touches, it really isn’t necessary. When buying a home, most people want a neutral space that they can add their own touches too, and if you’ve painted every room a different colour, they may find it difficult to imagine their personal furnishings in the house.
Extravagance doesn’t always equal added value
Depending on the location of your home, and its ‘vintage’, make sure that you don’t add expensive materials and fixtures just because you think it will make the property worth more. This isn’t always the case. In the right house, marble benchtops and a claw foot bath will certainly fit the bill, in other houses – not so much.
Stay away from bold ‘trends’
It can be risky to follow ‘what’s hot’ right now, because it could easily date in the next six months to a year. So, if you’re not selling immediately, be wary of buying into what’s ‘in’ right now.
Rachael Webber: Call 021 241 0061, or go online and visit tauporealestateagent.co.nz.
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