Renovating a home is quite straight forward. Renovating a home and making a profit on the sale is not so. Many amateur property developers have taken on what looks to be an easy project, thanks to the renovation television programs over the last two decades, only to discover that they make huge losses when the house is sold.
If you are thinking about renovating your home, whether it is to go up for sale or not, there are some secrets you need to know if you are not to lose out financially. Even then, if financial profit is your motive, it is always a risky undertaking. The best renovations are when you seek to profit by the improvement in your standard of living when the job is complete.
Here are a few ideas to inspire you.
Do Most Of The Work Yourself
Even for a complete novice, this idea isn’t as crazy as you may think. Much of the work is laboring, and anyone can do it. Clearing the house and lifting carpets is easy, buy would you consider learning to plaster? It is worth a try. Employ a plasterer where an entire wall must be covered, but practice smaller repair jobs yourself. After a while, you will see that you can do the work to a reasonable standard. The same goes for electrical work; you would be a fool to make any connections yourself, but there is nothing to stop you installing all of the cables to the electricians specifications. Domestic plumbing systems are quite easy to understand, and you can install the pipework yourself too. All of the work you do is saving on the money paid out to other people.
Look for contractors who are certified, have been trading for many years, and have recommendations where necessary. Choosing the wrong contractor can prove costly if all of their work is of a poor standard and must be redone. And don’t forget the clean up operation. That can be quite costly too, but a quick search online will help you identify builders cleaning services like this one in Perth.
Maybe you have some friends who are professionals in the construction industry. Ask a favour of them and try to get their services for free. Even if that is not possible, have you ever heard of ‘mates rates’? They will probably lower the cost of the work just as you would to help them out if they were in a tight spot.
Tour reclamation yards to find used materials for less cost than new. These outlets have become very attractive since people realised how much money they can save by shopping there.
Add Some Bedrooms
The more bedrooms a home has, the higher the asking price. Consider increasing the number of bedrooms in your home by converting the loft. Loft conversions are cheaper to do than full home extensions, and they give you several extra rooms if you so desire. Use the smallest existing bedroom for a staircase so that you have suitable access in accordance with safety and building regulations.
Target The Renovation Wisely
Spend your money on the things that matter. When people are viewing a potential home, they pay close attention to the kitchen and bathroom. You must outfit those rooms with high quality fixtures and fittings, and the workmanship must be to class. A new kitchen and bathroom are likely to be expensive, but remember, you can do most of the work yourself.
Any home undergoing a complete overhaul should be rewired for the sake of safety. As mentioned earlier, consult with your chosen electrician and install much of the wiring yourself to their specifications. They can test and inspect your work before powering it up. The installation of gas pipes is probably best left to qualified engineers. No part of the gas installation in a home is suitable for DIY; it isn’t worth the risk.
Work In Sympathy With The Building Style
Make sure that nothing you do compromises the style of the home. If a building as a thatched roof, for example, do not replace it with a modern tiled one. The biggest mistake people make is to replace beautiful old window frames with modern uPVC replacements that have nothing in common with the old style.
Emphasise The Entrance
People form their first opinions of the home before they reach the front door, so give them something amazing to look at as they approach it. A door is an important feature, so hang a top quality, high gloss unit with heavy door furniture. You must let people know at an early stage that there has been no compromise on quality here.
If your home is to appear welcoming, don’t neglect the garden. Consider the garden overhaul to be part of the renovation. The house needs to stand in pleasant surroundings, to show it at its best. You do not need to go overboard with landscaping because people enjoy doing that themselves. Just provide a tidy lawn and flower beds. Pay attention to the entrance to the garden, maybe by framing it with pillars, and the driveway. Gravel is the cheapest material for the drive, and it may be ideal if you mean to sell the house. If you intend to live there, look at better materials such as printed and coloured concrete that comes with a very long guarantee.
If you do not have an eye for interior decor or furnishing schemes, ask a keen amateur for advice. Most people know someone with an artistic outlook, who will be happy to come in and advise you of the best way to decorate your home. Think about floor coverings, window dressings, colour schemes, and furniture. They all work to add to the overall design.
Renovating your home is very satisfying when all goes well. There are always hiccups, however so it is important that you keep focussed on the outcome, even when you are under pressure. By approaching the project logically and wisely, you could make a lot of money on it too. That is the icing on the cake.