20 January 2012
So you are thinking about selling your property and wonder if a renovation will add value to the property & get you more money at the end.
MyRate reviews this common situation and gives you a few tips on how to go about it.
1.It is a good idea to start evaluating market prices in the same area as your property.
Go to inspections of similar size properties and look at the difference in asking prices whether the property has undergone renovations or not.
If the difference in price is less than 20,000 or 30,000 dollars, undertaking a renovation is probably not worth your time & money.
2.Sometimes, changing small details can make a big impression: a new front door, new blinds, new carpet, newly polished floorboards, freshly painted bathroom or kitchen tiles that would have looked outdated otherwise.
Try to buy bulk paint or find items in clearance warehouses to save money.
3.Presentation on the day of inspection is also really important: de-clutter your house as much as you can in order to create the impression of space. Also think about adding a vase of flowers and table decoration which will add a nice feel.
