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Mike Flook’s 9 tips on renovating your home for sale

When making the decision to sell an investment property or the family home, it’s crucial to present it at its very best as you only get one chance to get a great sale result. We want you to get the best outcome for your home so we asked our knowledgeable agent, Mike Flook for his top tips on renovating for sale. Having renovated many properties in the past, Mike emphasises the importance of working with the right tradespeople, knowing where to spend your money and where not to spend. Read on to find out how to get the highest price for your property.

Updates such as a fresh coat of paint can greatly increase the price of your property when it comes to sale day. Pic via Three Birds Renovations.

The right people

Mike’s family spent the last 12 months renovating their own family home so he thoroughly understands the importance of getting it right first time around. He says that engaging the best tradespeople is so integral because if you hire individuals that are not reliable and knowledgeable, not only can you end up spending far more than you need to, it just isn’t safe. Below are a few of Mike’s tips that will help ensure you only invite the right people into your home,

  • Ask to see a licence- It’s even more important to verify your tradesperson’s licence than qualifications, because a licence can be revoked by the governing body in the event of a breach. That is something you want to be aware of before hiring.
  • Beware of cash jobs- Be wary of any tradespeople who insist on cash payments with a cheaper price tag that excludes GST, as this can be a huge risk for your insurance.
  • Insist on a written quote- It is entirely reasonable to ask for a written, itemised quote, no matter the value of the job. This gives you a backup if things go wrong.

Hiring the best tradespeople will ensure the job gets done right the first time. Pic via @danielmccullough.

Mike has a full catalogue of proven trades people and companies that he has used himself that he’d be happy to recommend to you if you are thinking of updating your home.

Where to spend?

Some projects will cost more than they will ever give you back. Mike recommends focusing on the following areas to ensure you get the best return come sales day;

  • Kitchen- buyers are attracted to homes that they can move into right away. This means that having a fresh, liveable kitchen will be a big drawcard. However, when setting aside a budget for updating your kitchen, it must be consistent with a good return. For example, it doesn’t make sense to fit a $5000 Miele Fridge and have DIY cupboards. There needs to be consistency across the renovation.

People spend a large portion of time in the kitchen, ensure it is liveable and fresh for a profitable return on your property. Pic via @byronbayluxuryhomes.

  • Repainting- you can instantly modernise and refresh a faded property with a coat of paint. Anything that can lift your street appeal is a beneficial update. If you’re not sure which colours are ‘in’, companies such as Dulux have colour consultancy services for around $200.
  • Outdoor areas- this is an emotional driver for buyers. If you can show your buyer a beautiful, peaceful outdoor area, they will imagine themselves using it and already they are sold on the lifestyle it offers.

Where not to spend?

Ensure you aren’t reducing your pool of potential buyers by making polarising changes to your home. Mike recommends staying away from,

  • Expensive fittings- gold taps or elaborate chandeliers cost a great deal but don’t add value to the house. Style and taste varies, so you may put buyers off.
  • Intense colours- do not help the selling process. Colour has a huge impact on the feel of a house, keep it neutral.
  • Adding a pool- while a new pool is a great investment if you plan on staying in your home for a few more years and would get ample use out of it, it is not smart to install one just before you move out. It may reduce your potential buyers because those who don’t want a pool will cross you off their list. Those who do can always build one themselves.

Mike wishes the best of luck to anyone out there renovating for sale! He urges you to remember that whatever changes you make, ensure you make a difference, consider potential buyers and appeal to a broad market.

It’s important to consider potential buyers when renovating and appealing to a broad market. Pic via @realestate.com.

Please do not hesitate to contact Mike if you would like any further tips on updating your home.

Warm regards,

The Robinson Team

 

 

 

Mike Flook

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