There are three key things to consider to maximise your return on investment when renovating.
Smart Renovation Tips: Where to Focus Your Budget and How to Plan for Success
If you’re gearing up for a renovation, having a clear budget and the right team is key. Here are some essential tips to help you focus your efforts, stick to your budget, and navigate any planning approvals smoothly.
Decide Where to Focus Your Renovation
When it comes to renovations, it’s best to focus on the spaces where people spend most of their time, as these areas have the most impact on liveability and resale value.
- Kitchens, Living, and Dining Areas: These are the heart of any home. Maximize natural light, improve the flow, and choose modern fixtures and finishes—these upgrades typically yield the highest returns.
- Flooring and Lighting: Flooring is a worthwhile investment that can transform the feel of a space, and good lighting makes a room feel larger and more inviting.
- Curb Appeal: Don’t overlook the façade and garden. A well-maintained exterior draws people in and creates an emotional connection, which can make all the difference when it’s time to sell.
Plan Your Renovation Budget Carefully
With building costs at an all-time high, careful budgeting is crucial.
- Get Multiple Quotes: Aim to get quotes from at least three different trades for each aspect of the work. This will give you a better sense of pricing and timelines and help you plan your budget realistically.
- Research Local Comparables: Look for examples of properties in your area that were purchased un-renovated and then sold as finished homes. This can give you a realistic idea of what your budget should look like to achieve similar results.
Navigating Planning Applications
The planning and approval process can be one of the trickiest parts of any renovation. Here’s how to make it smoother:
- Plan Ahead: The process can be slow and expensive, so giving yourself plenty of time is essential to avoid costly delays.
- Bring in the Experts: If you’re renovating a heritage property, consult a heritage architect for the right advice and permits. Working with specialists like architects, interior designers, and skilled trades ensures you get a design that not only looks great but also maximizes the property’s value.
- Get Professional Guidance: Using experts for design and planning will help you create a space that meets regulations, enhances functionality, and stays on schedule.
By following these tips, you can make the renovation process much smoother and more rewarding. If you’re looking for more guidance on getting started, we’re here to help make sure your project runs smoothly and achieves the best results for your property goals.
