What renovations offer the best return on investment?

Dan Grantham • May 02, 2024

There are three key things to consider to maximise your return on investment when renovating.

Have your renovation budget planned out, and make sure you hire the right experts to help with the costs, timeframe and development applications needed. Lastly, focus your budget on areas where people spend most of their time.


Decide Where to Focus on Your Renovation


  • Typically we spend the majority of our time in the kitchen, living and dining areas. By spending most of your budget on maximising natural light, flow and modern fixtures and finishes in these areas will yield the best results.
  • Flooring is a consideration that should be included, lighting throughout makes the space feel larger and more inviting.
  • Lastly, the façade of the property and surrounding garden will make the property more inviting and pull at heartstrings for people to become emotionally invested in the property


Plan Your Renovation Budget


  • Building costs are at an all-time high, diligence in this step is the key to succeeding in renovations
  • Make sure you get 3x different quotes from specific trades to get an idea of pricing & timeframe for completion
  • Use examples of properties that were purchased un-renovated in your area and then re-sold as a finished product, it will help you to set a realistic budget


Navigating Planning Applications


  • The planning process can be lengthy and expensive, by planning ahead of time you can save yourself a lot of headaches.
  • Use experts in their field, if you’re renovating a heritage home consult a heritage architect to get the correct advice.
  • Consulting architects, interior designers and renovation tradesmen will mean you get the design correct that will maximise the value of the property and the time that it takes for the work to be completed.
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