4 Ways To A Profitable Home Renovation

Make Your Renovation Valuable

A successful planned renovation can add great value to your property. And if you are planning to sell that property, also a nice profit.

We list 4 ways to ensure your renovation project becomes a profitable one.

1. Plan a renovation before you sell

If you are planning to sell your home, a quality renovation can add tens of thousands of dollars to the value of your property.

This is something you need to plan several months before you put the property on the market to allow enough time to renovate it and get it to market at the right time.

Understand your target buyers to know how best to renovate to appeal to that audience.

2. Focus on improvements that add “value”

Do not renovate a home just because you think a few touch ups can make it look more appealing. Try to “rehabilitate” the property so prospective clients can see the incremental value and appeal.

This requires careful planning with your builder and trade professionals to know which spaces are worth renovating. It may simply be changing the floor from carpet to floorboard or refreshing the kitchen or bathroom that can help achieve greater value.

3. Avoid DIY

If you’re looking to renovate and profit, especially through a sale, be weary of going down the DIY route. Poor DIY jobs can reduce the value of your property and profits.

Professionals like builders and designers can help transform your house into something marketable and highly valuable.

Also make sure you draw up a budget for every job needed. This will help you control your costs and calculate the expected profits.

4. Think of function and space

Home buyers these days look for more function and space within a home and not just aesthetics. Is the house great for couples with kids? Is there loads of storage space? Thinking of these things can give your house and renovation the competitive edge.

Find trusted tradesmen right here!

If you are looking for tradesmen for your home repairs or renovations, why not give our team a call and find out about the recommended businesses in our trusted network.

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