Home Renovation Pros and Cons Before Selling Your House

09 March 2022

During 2021, homeowners in Australia spent upwards of $430 billion on home improvements and maintenance. If these owners could be certain of regaining this amount when putting their homes on the market for sale, these expenditures would be rewarding financially. Yet there is no guarantee that home sellers will recoup these costs when selling their homes.

When you seek expert advice from trusted real estate agents and property investors in your area, you can determine the best home renovations to make before selling your home property. By choosing the ideal renovation projects, you can increase the market value of your home significantly.

Based on reliable survey results from leading real estate brokers, approximately 80 percent of Australian home shoppers prefer turnkey home properties to those that need renovating today.

Major Advantages and Disadvantages of Renovating Your Home Before Selling It

The main pros and cons of renovating your home property before placing it on the market for sale include the following:

Kitchen Renovations

Pros

• Painting or refinishing your kitchen cabinets can upgrade the appearance of your kitchen.

• Replacing your outdated kitchen appliances with middle cost-range new ones can increase your home’s market value and attractiveness to buyers.

• Discarding your old and worn laminate or Formica benchtop and kitchen counters and replacing them with stunning granite, marble or quartzite will definitely raise your property value and buyers’ interest.

Cons

• Replacing your current kitchen cabinets can prove to be a costly and unnecessary improvement before placing your home on the market.

• Buying new upscale kitchen appliances before selling your home is not necessary and will lower your overall ROI.

• Redesigning your kitchen counter layout before replacing your countertops is an expensive project that is not needed before selling your home at a good price.

Bathroom Renovations

Pros

• Install a double vanity since the majority of home buyers favour bathroom designs that include this vanity style.

• Replace older tapware and accessories with attractive and functional new designs in chrome, brass, satin nickel or stainless steel.

• Swap older tile vanity tops for stunning quartz, marble or granite.

• Add a basic walk-in shower with a rainforest showerhead.

Cons

• Refrain from installing costly wall cabinetry and shelving that matches your new vanity since this will reduce your overall renovation ROI.

• Avoid buying high-priced tapware and accessories since medium-range prices in these items offer pleasing style and functionality.

• Do not attempt to enhance your new stone vanity with expensive stone wall panelling since this costly upgrade is not needed to attract home buyers.

• Decline all salespersons’ advice that you should install a high-end walk-in shower since lower-price designs will provide the necessary bathroom upgrade.

When you consult our experts at Olympia Homes located in Alexandria, NSW, in the South Sydney area, you will receive excellent advice about the ideal updates to perform before selling your home. Our professionals will work closely with you to determine the best reasonably priced renovations for attracting good home buyers.

Our experienced team will guide you in selecting smart and savvy updates that will reduce your renovating costs while increasing your home’s market value and attractiveness to buyers.

 

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