Originally published by view.com.au & written by Sonia Taylor
Having a home that feels tailored to your wants and needs is the dream for many property owners, but certain upgrades and renovations aren’t necessarily worth the investment.
“Renovating really comes down to what you’re trying to get out of it,” says Ray White agent and house flipper, Rosanna Perry.
“If you’re planning to stay in the house for the long haul and just want to enjoy the space, then go ahead, splurge big on your dream kitchen. If it makes you happy and you’re going to be living there, why not make it exactly how you want?
“But if the goal is to boost the value and sell quickly, then you’ve got to be a bit more strategic.”
The best home improvements are those that increase both a home’s current liveability and overall resale value.
So before you settle on that aqua paint colour or customised kitchen fitout, let’s explore some of the major culprits that can spell money down the drain.
Trying to avoid making something too nice may sound a little strange, but over-renovating and splurging on all the bells and whistles could hurt your saleability.
“It just depends on your plan. If it’s for you, go big. If it’s ultimately to sell, play it smart; keep renovations simple and neutral to appeal to as many buyers as possible,” says Ms Perry.
And while we often hear that kitchens sell homes, that doesn’t always mean you’ll make your investment back – especially if you favour bold design choices.
“Kitchens and bathrooms sound like smart upgrades, but they actually don’t have the best return, usually around 50 to 75 per cent,” says Ms Perry.
“So if you go all-out with high-end finishes and fancy design, you might only get half of that back when you sell.
“In some cases, you could lose money. Bold or trendy renovations can even turn off potential buyers.”
It’s always good to do comp (competitor) research before embarking on any updates. That is, check what the standard is in your area as a yardstick to help find the right balance.
“Simple updates in kitchens can make a big difference without overdoing it,” says Ms Perry.
“If the cabinets are still in good shape but just look a bit tired, you don’t need to rip them out. A fresh coat of paint, some new handles, or even restaining can make them look completely new.
“Things like splashbacks and countertops are also easy wins – they don’t have to cost a fortune but can massively improve the overall space.”
The bathroom also benefits from this simplified approach.
“You can update the vanity, swap out the tapware, replace old mirrors, change the lighting, and give it a fresh coat of paint. It’s all about giving the space a clean, modern feel without going overboard,” says Ms Perry.
Depending on the property, reducing the bedroom count might not be the smartest move as it can reduce your property’s value or deter buyers.
“Generally speaking, bedrooms add more value than studies or dressing rooms,” says Ms Perry.
“More bedrooms usually means a higher resale price. For example, a three-bed property can often sell for 10 to 20 per cent more than a similar two-bed. So, if you’re thinking of converting a bedroom, you have to weigh that against what you’re gaining.”
Two major pieces of this puzzle are the layout and number of existing bedrooms in your home.
“Just cramming in extra bedrooms can mess up the layout and make the house feel awkward. Functionality matters too,” says Ms Perry.
“If you’re in a higher-end or luxury market and already have enough bedrooms, then turning one into a really well-done dressing room off the primary can actually add appeal.
Buyers at that level are often looking for lifestyle upgrades, not just room count.
“But if you’re not in that market, or you’re going from three down to two bedrooms, you probably want to think twice.”
Ms Perry believes a good compromise is turning a spare bedroom into a multi-purpose room, like a study that can also function as a guest room.
“That way, you keep the flexibility and don’t lose value down the line.”
You may think that removing a window to add storage is a smart decision, but natural light is highly valued by buyers.
When considering additions or renovations, be careful not to inadvertently block natural light, as this can directly impact (and lower) your property’s value.
“Many buyers are turned off by a lack of natural light in a property. Aim to bring the light in, rather than reducing it,” says Ms Perry.
Keeping your design consistent and timeless creates cohesion throughout a home and has mass appeal.
“Not everything has to be matchy-matchy, but it should flow,” says Ms Perry.
“When you switch between gold taps in one room and black in another, or have totally different flooring from room to room, it can start to feel a bit disjointed.
“Keeping a consistent aesthetic – same general style, colour palette, and materials – really helps the space feel more polished and put together.”
This also goes for one-off aesthetic updates, especially if you have an older home.
Updating one area and not continuing that elsewhere will only highlight the areas that are dated.
Pools can be a controversial choice. For some, they are a highly coveted asset, but others will just see the dollar signs of ongoing maintenance.
Ms Perry says deciding whether or not the addition of a pool is a financial pitfall will depend on how soon you plan to sell.
“If you want a pool and you’re not selling soon, then why not enjoy it?
“But if you’re thinking of selling, it’s a different story,” she says.
“In a luxury market where most homes have pools, it’s warm year-round, or every home in the area has a pool, then sure, it could make sense.
“But keep in mind: pools often have a poor ROI, typically less than 50 per cent, and many buyers actually avoid homes with pools due to maintenance, safety, or lack of use.”
Ms Perry says to boost outdoor appeal without the cost and hassle, consider a new deck, alfresco area, fencing, landscaping, or even just a fresh coat of exterior paint.
It’s fun to imagine fully opening up a space, but reality hits when asking yourself two questions: what period is the home, and are any of the walls load-bearing?
If walls are load-bearing, then reconfiguring a floor plan can become expensive very quickly.
And that’s even before factoring in the cost of moving the plumbing and electrical.
“It’s also important not to lose the originality and character of a property,” says Ms Perry.
Of course, like all updates, there are certain scenarios where it will be worth the spend and others where it’s a total waste.
“Moving walls and changing the layout can be great, if it actually improves the space. [Otherwise], simple updates can make a bigger impact rather than full-blown structural changes,” says Ms Perry.
“Older homes tend to have more separate, defined rooms, whereas newer builds are often more open plan. Both have their pros and cons, and it comes down to personal preference.
“But if it’s not absolutely necessary, then why do it? I’m more of a ‘less is more’ person when it comes to renovating.
“There’s no point spending time, money, and energy on big changes that don’t really add value or improve how the home functions.”
Read the original article here.
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