Source: DANIEL BUTKOVICH ADVICE EDITOR, DOMAIN OCT 16, 2019
Presenting a dated home to the market can be problematic because buyers borrowing to their limits prefer properties that are liveable immediately.
In most cases, a pre-sale renovation that improves a home’s functionality, condition and appearance will add value.
But, budget-conscious sellers may forgo major improvements due to a lack of funds or fear of overcapitalisation, especially when it comes to kitchens and bathrooms, the most expensive rooms to renovate.
Vendors renovating on a budget will need to consider the most effective ways to use their cash on home improvements. Photo: Supplied
These rooms are often considered key selling points in homes, but fast-changing trends mean they also date a home the most.
If kitchens and bathrooms are tired but functional, focusing a pre-sale renovation on other parts of the property can spread the budget and address other potential deal-breakers.
The basics
If the last time a home was painted was five to 10 years ago, it probably needs repainting. Dirty, damaged or scuffed walls create the impression that a home hasn’t been cared for, and dated colour schemes can polarise buyers.
Spending thousands painting the entire property isn’t always necessary, according to professional renovator Naomi Findlay.
As a general rule of thumb, properties will need a fresh coat of paint every five to 10 years.
“It’s all about bang for your buck,” she said. “It can be quite a mammoth task, so you need to look really carefully at what you need to paint.”
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“It might be that you only really need to paint the facade because that’s where the first impression is. Painting the timber trim, eaves and fascias can lift the entire facade.”
Home owners should choose a crowd-pleasing colour scheme, according to Lisa Rickert, founder of paint brand Jolie Home.
Neutral tones are a safer bet than bright colours when painting your home for sale.
“Neutrals are going to be a much safer selection of colours when you don’t know who the buyer is,” she said.
“If you do not want to go with white, I would suggest a very light warm grey. It’s also going to work with whatever furniture people are going to bring into the home.”
With rooms cleared of clutter, floors can be refreshed. Findlay said having floorboards polished rather than refinished saves money, but worn carpets were a major turn-off and should be replaced.
Odd jobs
Putting your money into high-impact upgrades, such as skylights, is a savvy budgeting move.
Home owners shouldn’t fear a DIY approach, Findlay said. “If you’re willing to put in a bit of ‘sweat equity’ there are so many little jobs that cumulatively give the impression that a home is well presented and well cared for,” she said.
These include simple tasks such as replacing light bulbs with higher- wattage models to boost light levels or more time-consuming jobs such as replacing doorknobs or installing new window furnishings.
Skylights are a high-impact upgrade for dark homes, and basic off-the-shelf models can be purchased and installed for less than $1000. “Realistically, it should take a builder or a handyman no more than half a day,” Findlay said.
Exterior upgrades
A neatly-presented garden can help your property make a good first impression.
“The first impression is a lasting impression,” said Andrew Yaeger, director of pre-sale renovation company Fix Sell Pay. “When people turn up to your house or go on the internet to have a look at it, you’ve got to make a good impression.”
Exteriors are an opportunity to turn pain points into selling points. “Make sure the garden is neat and tidy,” said Tower Property Advisory director Robert Allanadale. “You certainly don’t want a jungle.”
Clean patios and lush lawns appeal to buyers seeking a low-maintenance alfresco lifestyle.
“It’s phenomenal what you can do outside your home with a pressure hose, loving the lawns and a bit of mulch,” Findlay said.
Tackle turn-offs
Something as simple as a re-tiled splash-back can have a powerful impact.
Avoiding kitchens and bathrooms altogether isn’t always the wisest approach, Findlay said.
“One of the troubles you might come into is you could do all this work on the rest of the property, and it then makes your kitchen and bathroom look even worse.”
Kitchens and bathrooms can be improved affordably by making high- impact updates to address deal-breakers. “It might be something as simple as re-tiling the splash-back, replacing the shower screen or painting the mouldy ceiling.”
Allanadale said the bathrooms and kitchens contributed to the overall feel of a property and usually required attention in high-end homes.
“You’ve got to make people relate to the house and want to live in it,” he said. “The more people you’ve got with that feeling, the better the price will be because it leads to competition.”