Wanting to renovate your home for luxury and comfort but also add value to your property?
Renovations are something that many homeowners undertake when they want to upgrade and modernise their home, but also add value and ensure their renovation is a good investment.
The main reason to look at options that increase the value of your home is to create a better position for when it comes to selling your home. However, knowing what to do and where to start can be tricky.
We are going to cover the common questions homeowners ask when it comes to increasing property value through renovations and give you some of our top renovation ideas to add value to your home.
How much can renovations increase your home value by?
The increase of property value through home renovations can depend on several things:
How much of your property are you going to renovate?
How much are you planning on investing in your property?
Are you going to take out a loan or mortgage for your renovations or pay from your pocket?
Therefore it is essential to get clear on what your budget is!
Budgeting for your renovation
Your budget for your renovation must be realistic, and you don’t need to spend hundreds of thousands of dollars to boost the value of your property. Get a plan together of what you want to do and calculate your expenses.
Here are a couple of ethical rules to follow when planning out your renovation and budget.
- When renovating rooms such as the kitchen and bathroom, try to pay no more than 2% of the property value.
- Aim for a $2 return for every dollar spent.
- Compare your quotes
- Allocate a reasonable amount of time for each room you plan to renovate
- Research what buyers are looking for in a property.
What are homebuyers looking for?
As of the last couple of years, there have been several aspects of a house that new homebuyers look for when buying a new home.
- Modern bathrooms and kitchens
- Increased storage: this could be in the form of larger wardrobe spaces, sleek hidden storage cupboards
- Multifunctional spaces: think shared kitchen and dining areas
- Outdoor entertaining spaces and gardens: incorporating natural elements (grass, wood, plants) help create an oasis within the home
- Energy efficient aspects and smart technology
- Open floor planning: create a pleasant and relaxed flow throughout the home
How to choose the best home renovations to increase property value?
It’s best to look at the current trends and statistics on what buyers are wanting. You ultimately want to make sure that you’re filtering your attention into the rooms and parts of the house that require repair and are high traffic areas.
Once you have an idea of your renovation plans and you’re ready to go ahead get in contact with CMR, we are your Gold Coast renovation builders with the best renovation advice for your home.
Here are our top renovation ideas for adding value to your home!
Several rooms throughout the house should be at the top of the list when you’re planning your renovation.
- Kitchen: the heart of the home, the kitchen is where you will almost always gather with your friends and family to chat, cook and spend time. It’s worth investing in giving your kitchen a new look. Upgrading cabinets, a coat of paint, modern fittings and upgraded electricals are just some ways you can improve your kitchen to help increase the value of your property.
If you wish to create an open-plan space with your kitchen and dining room, get in contact with your builder to assess and remove the walls for you. - Bathrooms: giving your bathrooms a paint job, replacing old tiles, mirrors, fittings and upgrading the cabinets are just a few ways you can easily breathe some new life into them. Going for a modern feel with a clean and bright look is going to help create the luxurious aspect many homebuyers are willing to pay top dollar to have.
- Curb Appeal: in this case, first impressions matter! The first thing potential buyers see is the front of your house, and the attractiveness of your home is going to be what helps bring them in. A couple of things you can do to increase curb appeal is to give your house a new paint job, tidy the garden and possibly put in some new plants, update the house letters and letterbox.
- Smart Technology: we live in a modern world where technology is a massive part of our lives. Incorporating smart technology throughout the home is an excellent way of increasing property value; staying up to date with the latest technology while still keeping a luxury feel.
There are many possible ways for you to increase the value of your property with renovations, but it’s best to keep it simple.
Having a clean and sleek look throughout the property ch2an visually create the look of luxury and high class without you having to break the bank. Less is more.
The massive home renovation project we completed in Mermaid Waters, Gold Coast:
One of our latest projects was to renovate a property in Mermaid Waters, Gold Coast. The goal of the Mermaid Waters home renovation was to provide a clean, modern design with a breathtaking view over the lake.
To achieve this, we worked with the shell of the house, knocking down half to modify the roof and create an open living plan that could perfectly house the whole family.
CMR Constructions: Your Home Renovation Builders on the Gold Coast
Here at CMR Constructions, we do renovations, builds and rebuilds for large and small homes. It’s our job to provide you with a stress-free, professional experience and deliver high-end results.
Get in touch today for a free consultation by filling out our Project Enquiry Form, or phone us on 07 5527 3333 or 0411 320 024.
Your vision + our expertise and history of excellence = your dream home, completed on time and on budget.
