FAQs
Can I renovate on a budget?
Yes of course! Simple changes that adds the most value are
* Decluttering
* Paint – inside and outside in light and neutral colours
* New carpets and polish floor boards
* Repair before you replace
* Create a new room if possible
* Garden maintenance
How much should I spend on renovating?
For cosmetic renovations it is suggested to spend up to 10% of the current property value. For example $50,000 on a $500,000 property. Of this 10%, it would be ideally spread –
2-3% Kitchen
2-3% Bathroom
2-3% Other (paint, carpet, blinds etc)
2-3% Landscaping / Frontage
What is ROI?
ROI is an acronym for Return On Investment. It is calculated by dividing the equity created by the cost. For example a $9,000 profit divided by $3,000 in costs equals 3:1. To make any renovation worthwhile of your time and risk, you need a minimum ROI of 2:1 or more
When selling is property staging really worth it?
Yes I believe it is. Statistically properties that have been professionally staged will increase the estimated sales price of a vacant property by 7%-10% and sell 50% faster. Property staging incorporates styling, maintenance and marketing presentation of the property (photo & videos)
What’s the difference between an interior designer and a property stylist?
An interior designer creates cosmetic renovation design concepts, layouts and selected finishes for the home owners’ wants and needs. They often work with builders and trades to project manage the work.
A property stylist prepares a property for sale with an understanding of the current property market, design principles and the ideal buyer buyer in mind (not the vendor’s tastes)
When is the best time to sell?
Now! Most likely you will be selling and buying a property in the same “market”. So in a buyers market you may not attract a high offer, but likewise you have the opportunity to buy a better property at a discount. It’s all relative.
When contemplating days and seasons, different homes will present better when considering –
Weather
Light
Temperature
Garden