Don’t do it – renovations that make it harder to sell your home

Think a renovation will add value to your home? Think again.

According to property experts there are certain types of renovations that will actually make it harder to sell your home if you plan on listing it for sale within the next year or so.

Here’s how to know if your renovation will help or hamper your home sale.

WHAT BUYERS WANT

Whether or not a renovation will add value to your property really depends on what the buyers in that area are looking for, Peter Diamantidis of Ray White Diamantidis Group said.

A homeowner who converts a garage into a fourth bedroom before selling will have a challenging time finding a buyer if the people in that area prize secure parking as an important feature.

“You’ll lose all those types of buyers,” Mr Diamantidis said.

The same goes for a homeowner that takes up all the green space in their garden by building a large pergola, if the majority of buyers in that area have young kids and are looking for a home with a backyard.

He said it’s important to engage a local agent first to discuss your renovation plans if you think you will sell within the next few years.

RENOS THAT DETRACT VALUE

Cheap looking renovations or extensions added to a quality-built property can also affect the value of the home, McGrath Wahroonga agent Bronwyn Lipscombe said.

This is particularly so in suburbs where most of the buildings have a certain character or standard of quality, such as being double brick.

She said the same thing goes for pools.

“In some areas and price points they are almost mandatory, but in other parts of Australia and at other price points (adding a pool) would be a detraction,” she said.

Layout and function is another important point to consider, she said.

While partitioning a living space to add in an extra bedroom or study may add value if the living area remains spacious, on the flip side, it could hurt your chances of selling if the place feels cramped and dark despite the extra bedroom.

Another benefit of engaging a local agent before renovating is that they will often have a good idea of what buyers in that area like when it comes to kitchen and bathroom design, she said.

“It needs to suit the area and suit the target market,” she said.

STYLES TO AVOID

When renovating a home that you plan on selling in the not too distant future, it’s best to stick with neutral colours and let the furniture and artwork do the talking, principal stylist of Vault Interiors Property Styling Justine Wilson said.

“Avoid primary colours like red or yellow kitchens, or overly trendy interiors such as boho or too many arches,” she said.

While you may like bright colours, others may find them overwhelming. Specific styles could also limit your pool of interested buyers, she added.

She warned against feature walls and heavily patterned wall paper or curtains.

“The most paired back neutral option is always best if renovating to sell,” she said.

“Warm neutrals like beige, white and cream are great – so are cooler tones of grey, charcoal and black accents.”

HOME RENOVATIONS: TOP TIPS TO MAXIMISE VALUE

Professional stylist Justine Wilson from Vault Interiors said keeping things neutral is the best way to attract more buyers when selling a home.

She shares her top three tips for maximising value through a renovation.

Add practical function – this should be done in conjunction with making your home look great, a good example is adding a study nook in a dead area or under a stairwell

Add street appeal – first impressions count so make sure your home is looking spick and speck by washing or painting the facade and tidying up the garden

Ask an agent – avoid overcapitalising on a renovation by speaking with a real estate agent or stylist with local knowledge to find out which renos offer the most bang for buck in terms of adding value in your suburb.

Originally published as Don’t do it – renovations that make it harder to sell your home