4 Renovation Mistakes That Ruin the Property Value

by Jessica Alicey on

Okay, if something forces you to sell your house and move to a new place, you probably think about it this way: sell it, get the money, and move to a new place, but is it really that easy?

Moving can be considered as a point of change for your family which is very crucial. Selling a house also means you are ready to undo all the events that occur in the house. This case might be easy for some people, but not for everyone. However, you should not get that 5 years later feeling of missing the opportunity to sell it.

Whatever the reason for your decision to sell the house, there are some things you should look for so that you can avoid the unnecessary mistakes. This mistake can result in a not optimal selling price, the house is not sold, or probably you have trouble to move from it for sentimental reasons.

If you intend to sell a house or apartment, usually people make various improvements so that the selling price is higher. However, not every renovation work could add to the selling price.

Some of the renovation may get your house even harder to sell. So, what should you choose to make up your house? Keep everything to the basic, repaint the rooms, fix the plumbing, and everything that should be done regularly.

If you have asbestos materials in your house, you should keep in mind to remove it first. This is because the presence of asbestos will decrease your house value in an instant. You definitely can find many reliable asbestos experts here in NSW. So, have an asbestos removal Port Macquarie service by a professional removalist right away.

Let’s examine what kind of common errors people do when fixing the house before selling it:

1. Renovation mistake for being too luxurious

When going to buy a house or apartment, there are three main factors you need to consider. First of all is the price, only then is the environment and third is the location.

Price is the main consideration because it determines the size of the installment. For middle-class buyers, the property does not have to be fancy, decent origins and low prices will be an option.

So if you’re targeting middle-class buyers, there’s no need for fancy renovations. For example, urban people might replace with marble floors, using teak and others. This makes the cost of the renovation explodes.

As a result, the renovation of luxury becomes increasingly useless if its location is in the middle or a lower-class neighbourhood. Instead of profits, you even become confused because it is offered at a low price.

2. Increase the number of rooms

The number of rooms and bathrooms is a common standard in determining value. No matter how big the house is, if there is only one room, then it will be considered as a small house.

Houses or apartments with three rooms and two bathrooms are usually having the higher price and reserved for middle and above classes buyers.

So if the property you want to sell has only one room, you can renovate it by adding a room. The width is not necessary, 3×3 meter size is sometimes quite enough.

3. Placing a luxurious kitchen set

The taste and style of the kitchen set for each family is not always the same. Maybe you intend to renovate the kitchen and hope that the selling price is higher.

Especially, to renovate the kitchen set with luxury furniture, at least you need funds more than $ 10,000. But what if the buyer is still bargaining to get the cheap price?

It turns out that fancy kitchen set that cause you a mountain will not make buyers feel the need to raise their bargaining prices. So do not waste your money. If the kitchen set should be renovated, fix them as reasonable as possible.

4. Eliminate the garage

Owners of houses or apartments that own a car must find a parking space and may have to spend extra money to pay for parking fees.

If the property you want to sell is on the road by car, do not lose the presence of the garage. You should create a simple garage to add the value of your house. It is important to attract buyers who have cars.

Now you know some points to avoid in a house renovation, you should plan the reconstruction thoroughly. Everything must be planned in detail to avoid any regrets in the future. Thus, get your notes and start working it correctly.

Whether your house is big or small, you should get the most out of the selling price. Therefore, try to have a consultation with everyone you know including your families, relatives, friends and experts. This way you will get more insight to guide your steps.

Written by: Jessica Alicey

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