fbpx
1300 416 700
Home Loan Types The Team Calculators Learning Our Difference Get in Touch
Mortgage Basics
Purchasing
Refinancing

What to consider when renovating!

When renovating to add value (versus renovating for passion) it’s important to understand the market and expectations of potential buyers. There are a number of things to consider including the location of your home and the expectations of potential buyers. It’s important to always make sure that any renovations undertaken with the intention to add value have a reasonable chance of raising the sale price of your house.

1. Location, location.

Renovating

Ensure that the features you’re adding to the home are consistent with the landscape of the suburb.

An example of a renovation that would add value based on location to an inner-city Sydney suburb could be a car space as parking is difficult in that area.

Master the Sydney property market with leading industry insights and market trends straight to your inbox

Helpful Tools

Choosing a home loan is one of life's big decisions. We get it.

Start planning your next move using one of our handy calculators.

2. Demographics.

Make sure you think about the who you’re selling to and their expectations. If you’re selling to families they might expect facilities like a pool, lots of outdoor space or a secure fence/gate.

These features may mean they will pay more for the property when it comes down to it. These features might not be the expectations of a single individual or young couple.

When renovating

3. Risk and Reward.

repainting

It’s easy to get distracted when renovating so keep your goals clear and focus on why you are making the improvements. Make sure you understand that you are not renovating for yourself and personal taste and preferences shouldn’t play a leading part in the decision-making process.

Learning

Related Articles

News
Refinancing

Refinancing Your Mortgage for Home Renovations

21 Jun 2021
Mortgage Basics

Which Home Loans Have No LMI?

21 Jun 2021
Purchasing

Checklist of Home Loan Docs

28 Apr 2021
Purchasing

Why Do Home Loans Get Rejected?

14 Apr 2021
Mortgage Basics

How Much Income Should You Spend On Your Mortgage?

16 Mar 2021
Purchasing

Everything You Need To Know About Buying A Strata Property

16 Mar 2021
Investing
Purchasing

House Auctions 101: How to Prepare Ahead & Increase Your Chance of ...

16 Feb 2021
First Home Buyers
Purchasing

When will be the Best Time to Buy this Year?

20 Jan 2021
Mortgage Basics
News

Home Loan Subsidies: What is out there Currently and are ...

20 Jan 2021
Mortgage Basics
Refinancing

What Improves and Damages Borrowing Power?

19 Jan 2021
Mortgage Basics

Mortgage Insights from International Markets

16 Dec 2020
Mortgage Basics

How To Choose A Mortgage Broker

16 Dec 2020
Refinancing

The Real Reason Why You Should Switch to Fortnightly Repayments

14 Dec 2020
Purchasing

Australia Sees a Return of Buyers

19 Nov 2020
Purchasing
Refinancing

How Is A Property Valuation Done?

19 Nov 2020