Kitchens and Bathrooms Renovations Sell Houses

May 30, 2012

Renovate to Sell

A Property’s value is closely linked to the state of the kitchen and bathroom. Renovating the kitchen and bathroom adds value and appeal to any property. For many investors, Property Investment NZ is all about adding value through renovation.

When potential buyers view a home they head to the kitchen first. The bathroom’s impact comes later and if the bathroom is unpleasant this will put off a buyer faster than anything else.

Whatever the renovations, experts believe the kitchen renovation bill must stay under 5% of the total value of the house and the spend on bathrooms up to 1.5% of the pre-renovated budget.

How to add value to Kitchens and Bathrooms

  • Fix your budget – Always keep in mind that over-capitilising means less profit. A kitchen renovation cost should not exceed 5% of the value of the house and a bathroom should come in around 1.5% or pre-renovated value. Find a balance between quality, looks and expense.
  • Recycle what is in good condition– Always reuse what you can or sell it on. Keeping some older fitting can add appeal and character and save you money.
  • Use Classic colour schemes – Select lighter and brighter colours – it is always better to appeal to the wider tastes and light bright colours mean the spaces appear fresh and clean.
  • Details – Always be aware that the a top finish will stand above an amateur finish. Shortcuts in bathrooms and kitchens are not recommended. Use professionals in areas that there are renovation restrictions, see build it right for details.
  • Storage – If you can add some storage in the kitchen this will add value.
  • Higher price for property – new kitchens and bathrooms give the impression that the home is modern and fresh and will not only add value but make the property more sale-able.

Without a doubt Bathroom and Kitchen renovations add value to the property being sold. Everyone wants a functional modern kitchen, and a bright, fresh and clean bathroom.

For further reading on Property Investment NZ, click on the articles below:

Setting Goals for Financial Independence – click here

Tips for Becoming a Property Expert – click here

Buying Rules for Property Investment – click here

5 Tips to Add Value through Renovation – click here

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