Planning on Renovating?
Renovating can be a great alternative to selling!
When selling a house and buying a new one, the amount of money that you will spend on real estate agent fees, stamp duty, moving costs will usually be well in excess of $40,000 and this is if you are moving into a house of equal value (not upgrading and increasing your loan or investment).
If you add to that the cost of unforseen expenses that the new property may require, it is a VERY expensive process. Sometimes it makes better financial sense to invest in renovating your existing house.
Renovation ideas that can give your current home new life, more space and increase the value of your home:
- Re-modelling a kitchen
- Remove some interior walls to open up living areas and give a more spacious feel
- Remove those 1970’s arches!
- Open up bathrooms to your outside areas with large windows
- Install larger windows in order to capitalise on views
- Install bi-fold doors from living areas onto outdoor decks
- Rendering outdated brick work
- Create an office nook in rooms that have the space
- Replacing tired floor coverings, vanities and basins
The added benefit of renovating an existing house is that you can save money if you are prepared to do a bit of DIY. Always leave electrical, plumbing and gas modifications to a licensed professional.
If the thought of renovating doesn’t appeal to you and you are determined to sell and buy another house, then contact Steve from Perth Property Inspections when you are ready to book a building inspection.
