Thinking about renovating to add some value to your property? Read on for five renovation blunders that can do exactly the opposite.
Renovating without first fixing faults: If the house needs re-stumping, re-wiring or re-roofing do this first. Putting time and money into cosmetic improvements without first making sure the building is sound is like putting lipstick on a gorilla.
Not having a masterplan: Short-term thinking will come back to haunt you in a few years when you realise that the near-new kitchen or bathroom is in exactly the wrong location to suit a well-planned, well-functioning family home.
Not considering sustainable design: Panoramic views of the garden are lovely, but if the windows face west they need to be considered carefully to avoid the property becoming a hothouse.
Failing to obtain permits: Most renovations will need at least one permit prior to construction. Apart from being illegal, building without getting them can be a recipe for disaster when the time comes to sell.
Renovating without an eye to resale: A darkroom, a home theatre or a sound-proofed music room might sound great to you, but they may not appeal to anyone else when you list your home for sale. The classic? Converting the second bedroom of a three-bedroom home into a lavish en-suite and dressing room. Sounds lovely and looks great, but a house with two bedrooms and two bathrooms won’t suit many buyers.
Tips provided by Archicentre’s Victorian state manager David Hallet.
Visit the increasing property value section of our property investment forum to discuss reno tips with the property investment community.
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