The Block 2018: How to renovate your home to suit the demographic of the area

At the start of The Block this season, we saw some couples struggle to renovate for the St Kilda market with the future buyer in mind.

As part of The Block’s buyers’ jury, I advise the contestants to quickly establish what the demographic in the area looks like, to make sure they don’t overcapitalise and spend too much in areas that won’t necessarily add any value to the home.

Before you start renovating your own property, here are a few things to consider:

Know your market

Resist the temptation of jumping straight into the renovations without fundamentally gaining a greater understanding of the area.

Research your demographic and surroundings. Who lives there and who do you see most likely being attracted to the area? Is it downsizers, families or young professionals? Would the potential buyer be an investor or owner-occupier?

In a family area, for example, a renovation should be approached with children in mind and focus on the kitchen, living rooms and backyard. Make sure these areas are well presented and that there is a nice flow between them.

Adapt to the area

Each suburb has different nuances and buyers in each area will have certain expectations in what they’re looking for.

For example, in a Brighton house many people expect a pool and are willing to pay for that, but further out in the suburbs were people don’t anticipate it, it might not add any value to the home.

Only two of the contestants have placed a study area in their apartment. These two apartments will especially attract young professionals with a flexible lifestyle of working more from home.

Related: View the five Gatwick apartments for sale

• Kerrie and Spence: 1/34 Fitzroy Street, St Kilda
• Hans and Courtney: 2/34 Fitzroy Street, St Kilda
• Sara and Hayden: 3/34 Fitzroy Street, St Kilda
• Norm and Jess: 4/34 Fitzroy Street, St Kilda
• Bianca and Carla: 5/34 Fitzroy Street, St Kilda

The all-important floor plan

The floor plan is the one key feature that impacts many people’s decision when it comes to finding a home, whether it’s to rent or buy.

We’re still seeing the increasing trend of people looking for an effortless flow between each room and the abundance of natural light throughout.

If possible, kitchens and living rooms should be facing north for maximum natural light, which automatically makes for inviting entertaining areas.

This season, Norm and Jess have executed a beautiful flow between their kitchen, dining and living room, with white, flowy curtains to make the most out of their 4 metre ceilings by maximising the natural light. This will appeal to many buyers.

Don’t waste your money

Again, consider your area and ensure you don’t overcapitalise based on the values of properties within your area.

Combining modern touches with the originality of the home gives it a unique, personalised feeling that’s appreciated by many buyers.

Kitchens and bathrooms are known to be important selling points, but I would also add that outdoor living areas should not be neglected.

Remember that many updates can be made to these spaces without blowing your budget, just make sure you plan your renovation well in advance to avoid unexpected costs.

Sometimes a fresh coat of white paint or new tapware and fixtures can make all the difference. Additionally, cost-effective updates could include polishing timber floors, updating light fixtures, replacing door and drawer handles.

Lastly, it’s important to have the exterior of the home well presented, as this is where the first impressions are made.

Even if you’re not anticipating selling or renting your home in the near future, these tips will improve the chances of getting a good return on your investment when you decide to lease it or put it on the market.

Greville Pabst is a buyers’ advocate and co-creator of PropertyDuo. He is also part of The Block buyers’ jury.