A 2016 Finder survey found that even the smallest flaws can turn buyers off. In fact, 87 per cent said they’d change their mind on a home if they spotted mould, 84 per cent would be put off by structural decay and 83 per cent by dampness. Even peeling paint and signs of indoor smoking will cause around half of potential buyers to look elsewhere.
Before you make a single renovation, fixing little problems such as those should be your priority. Clean the entire home thoroughly, being extra careful to remove any signs of mould, decay or damp. If paint’s peeling, consider adding a lick to the affected rooms, and use odour killing sprays to get rid of any unpleasant smells. Replace or fix whatever’s broken and do all you can to get cover or improve any visual blemishes you find.
After you’ve taken care of the little things in and around your home, take a good hard look at your front yard. It’s the first thing prospective buyers will see and it can play a big part in making a good first impression. In fact, the aforementioned Finder survey found almost half of buyers have made up their minds about a home by time time they walk in the door.
Get rid of mess like overgrown weeds, children’s toys, old hose reels and scruffy plant life then take a few hours to fix any unsightly problems with your fences, driveway or entryway. You don’t have to hire a team of landscapers to make a difference – a little DIY could be all that’s required to really improve your property’s look.
If you’re in an area populated by professionals and established families a brand new kitchen could seal the deal.
The above renovations and changes should be a priority for anyone selling their home. A full scale kitchen update, on the other hand, can be extremely expensive so it may not be the right course of action for everyone.
Consider who’s likely to buy or rent your home in the area to help you make this decision. If, for example, your suburbs occupied by mainly students and young home buyers, a new kitchen and the associated higher price tag may not be appealing. However, if you’re in an area populated by professionals and established families a brand new kitchen could seal the deal and secure a higher sale price.
Archicentre estimates that a full kitchen fit out will cost you between $12,000 and $30,000. Consider these numbers when renovating as well – generally, higher specification kitchens that cost towards $30,000 will generally only be worthwhile installing in affluent neighbourhoods. To surmise: always renovate with the end user in mind and avoid overcapatalising.
Much like kitchen updates, bathroom renovations can show solid return on investment if you know what you’re doing. Archicentre’s data shows that a new bathroom will set you back around $10,000