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 | Renovate? Move? Too Hard To Decide? | |
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Australians are expected to spend about $18.5
billion on home renovation this year, according to the Australian Bureau
of Statistics.
 This
statistic could give you an idea about what most people are considering
to increase the value of their homes. Looking for a new home could be as
stressful or even expensive as renovating an existent home.
With the housing market in most states undergoing some readjustments,
many people are deciding to stay put and invest in up-grading their
existing home. This is not only easy but will also automatically add
significant value to your existing home.
Whether it’s pre-wiring for home entertainment systems or kitchen
islands with granite bench tops, more and more people expect renovated
homes to include these high-end finishes and are willing to pay a better
price for older homes with new looks.
Here are some pointers to make the renovation process simpler if you
have chosen to renovate your old home.
Renovation simplified
- Visit renovated homes in your area. Visit homes that are open
for inspection and look at the renovations. Compare their sale value
with unrenovated homes in the same area. This will help you
understand the value that your planned renovation is likely to add
to your home, and what potential buyers like and don’t like.
-
 Plan
renovations that are in keeping with your home’s original structure
and design. If you have, for example, a classical terrace or
Federation home ensure a new extension maintains an appropriate flow
and look. Avoid ultra-modern or box-like additions, and pay
attention to issues such as the height of ceilings, exterior
roofline, windows and cornices.
- Incorporate energy-efficiency into your design. While dual-flush
toilets and water-saving shower faucets are now standard, it is
worth speaking with your architect and builder about incorporating
energy-saving measures into the design of the house. With more
people becoming environmentally aware, “waterwise” gardens and
landscapes and energy-efficient heating and cooling can add value to
a property.
-
 Inject
as much quality as you can afford. Depending on your style of home
and location, stainless steel kitchen devices, quality cabinetry and
woodwork, granite bench tops, security, quality fencing, a range of
lighting options, and carefully planned wiring to accommodate
multiple computers, entertainment systems and internet access are
the types of details people notice and, increasingly, expect.
- Avoid “gimmicks”. Avoid installing an oversize spa bath in a
small bathroom where a modern shower recess or a claw foot bath
would be more appropriate and stylish, or over-investing in a
children’s bathroom. Keep design and fittings clean, sleek and
simple and your renovation will be timeless.
- Work with professionals. A DIY renovation is not as simple as TV
makes it seem, and will not add as much value as something that is
carefully planned with the input of experts.
If you can work with the house you have to incorporate spacious new
living and sleeping areas in a way that will add real value and comfort
to the home, then renovation can be very worthwhile and rewarding.
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