SERVICES
HOME VISION CONSULTATION
If you’re thinking about renovating, a Home Vision Consultation is a way to learn how to achieve the best outcome to add value and function of your property. This is whether you are just looking to update your home to live in, invest or preparing to sell. I will do a full walk through your property including the outdoors. I will give feedback on ideas to make better use of space (eg rearranging furniture) or suggestions on affordable changes that should add value to the property (eg new kitchen, paint, landscaping) and estimated budgets.
Alternatively, if you are unable to attend the appointment (eg you’re interstate), we can connect by video and do a live walk through.
BUYING ON THE GOLD COAST
Are you wanting to buy a property on the northern Gold Coast but can't inspect it yourself at open homes? Not a problem. Let me do it for you with our Open to Inspect service. This quick 30 minute inspection gives you an opportunity to do a video walk through the property prior to submitting any offers. I provide feedback on any visible repairs and maintenance needed as well as cosmetic renovations. This does not omit the need for a build and pest inspection! Rather than engaging a full buyers agent, this service allows us to inspect multiple properties whilst you maintain control over what you buy and negotiations with sales agents.
RENOVATING
types of renovations
When considering whether it is worthwhile undertaking a cosmetic or structural renovation, you need to ask yourself first -Why? What is your strategy?1. Own property to sell - add value to your home, repairs and maintenance, buyer appeal, sell faster
2. Own property to live - modernise, create more space, repair and add value to your home to suit your lifestyle3. Investments - add value to an investment property for equity to refinance or increase rental returns and attract better tenants4. Business - strategic planning to buy, renovate and sell for the purpose of creating a profit in a short period. Otherwise known as "flipping"
10 STEPS TO RENOVATE FOR PROFIT
Renovating involves a strategic transformation of a property that will create a better lifestyle and street appeal to a potential buyer or to create equity in your home. Before starting any renovation, location, planning, knowledge, time and budget are all integral to a successful renoavation.
- Find a property - Location, location, location. Know your market (national, city, suburb, street)
- Quality - asses the condition of the home. A building report by a licenced builder will give you the information you need as to whether money can be made based on its condition
- Who is you ideal buyer - owner occupier or investors? Singles or families? Any renovation should be done with the ideal buyer in mind to maximise appeal
- Know your numbers - add the purchase price, an estimate on the work involved (labour and finishes), buying, selling and holding costs. What is the estimated sale price of renovated properties in the area? Talk to local agents
- Quotes - obtain 3 quotes for all work required, ask for referrals. Be aware you get what you pay for (poor workmanship results in delays, extra costs to make good or turn off buyers). Beware of asbestos.
- Timeline - plan your renovation with a scope of works, all the trades, tasks and timeline required. You need the project to be on time and on budget
- Manage the project - are you going to do the renovations yourself, project manage trades or outsource to a builder? Check you State regulations and licensing restrictions
- Budget - with all the quotes in, add a 10% buffer, add all the purchasing, holding and selling costs and then double it. You should have a minimum of 2:1 ROI to make the renovation worthwhile
- Style to sell - staging a property increases the sale price of an unfurnished property by an average of 5-10% and sell in the fastest time ideally under 4 weeks
- Selling - invest in an experienced and reliable real estate agent who can negotiate well. Invest in quality photos and marketing. Know your current market price. An overpriced property that doesn't sell quickly will cost you money
FAQ
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% Kitchen2-3% Bathroom2-3% Other (paint, carpet, blinds etc)2-3% Landscaping / Frontage
What is ROI?
ROI is an acronym for Return On Investment. It is calulated 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 a 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 principals and the ideal buyer buyer in mind (not the vendor's tastes)
A property stylist prepares a property for sale with an understanding of the current property market, design principals 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