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Is it worth renovating your Bacchus Marsh home before you sell it?

3 Dec 2014 cathrynmcdonnell 0 Comment

tool-beltWe’re often asked whether it’s worth renovating a property before it gets put on the Bacchus Marsh real estate market.

Unfortunately there is no one size fits all answer when it comes to renovating, as every property will benefit differently. While one property may just need a new lick of paint and minor touch-ups, others might profit from a complete overhaul.

As a starting point, it is worth researching other properties in the local area and asking whether or not they are in similar condition to yours. If there are lots of newly renovated homes in the area then it could be worth upgrading yours so that it’s in line with others. On the other hand if you’re planning extravagant renovations that nobody else in the area has then you run the risk of overcapitalising.

If you have decided that you do want to renovate then prioritise what needs to be done. Safety and building issues should always be at the top of the agenda so make sure to fix any plumbing, electric or structural issues. Nobody wants to buy a home they see as unsafe.

To get the most bang for your buck you should also opt for renovations that will add the most value to your home. If there is an area in your home that really needs attention (for example out-dated paint colours or carpets) then look at tackling these first. Always keep it mind though that modern kitchens and bathrooms are what gets buyers’ attention.

Overall it’s important that you carry out a bit of research on your local area and do your sums! Overcapitalising is always a risk when renovating, but if you’re sensible and invest in the right improvements then you should come out ahead.

If you would like any advice about choosing the best renovations for selling your Bacchus Marsh home then please don’t hesitate to get in touch with one of the friendly team at Professionals Arbee Real Estate.

 

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