Focus on small changes that make home attractive, renovation experts say

We’ve all seen the television shows; the home owner pours thousands of dollars into a renovation in hope of making a tidy profit. But how realistic are these goals? And what changes will potential buyers really want you to bother with?

Presentation is always key to selling a home, however a new $20,000 marble kitchen may not be to everyone’s taste. Instead, experts suggest focusing on making smaller changes that will brighten up your home, rather than break the bank.

LJ Hooker Dickson director Stephen Bunday says presentation is one of the major factors in maximising the property’s price and he likens it to selling a car.

If you were selling a car, he says, you would have it examined, you might get new tyres or extend the rego. You would make sure that it was clean, tidy and fresh for the new owners. The same goes for selling a home.

“Anything that you can do to dress the property and make it look its best is a good thing within reason,” Bunday says.

“I would advise vendors not to make major capital improvements because you don’t know if what you’re doing is to the next buyer’s taste. If a home is being sold as a renovator’s delight then leave that to the next person.”

A fresh coat of paint, new carpets and tidying up the garden are still highly recommended.

Sugar Designs founder and principal design consultant Helen Tadiello says overcapitalising can be a hurdle for renovators and a good rule of thumb is to spend only 10 to 25 per cent of the profit you expect to receive on the final selling price.

“It’s sometimes harder to stick to than you think, but you have to be strict with yourself so you don’t end up wasting your time,” she says.

“You have to also keep in mind all the other costs that come with selling a property after the renovation is finished so you make a profit at the end of the exercise.”

Avoid major structural changes unless you know that you will make a profit in the end, Tadiello says.

“Removing a wall can sometimes open up a can of worms, which may affect the electrical as one example and result in spending more money than you may have anticipated,” she says.

“No expensive appliances or fittings – this is not your dream-home project.”

Luton Properties Dickson agent Holly Komorowski says major changes should be tackled only if you’re going to get some enjoyment out of the process and after it is complete.

“Kitchens and bathrooms can be very costly, so you need to be confident that you can maximise the price of the home,” Komorowski says.

“I’d be hesitant to do the kitchen and bathroom if you’re not going to get any enjoyment out of the renovation. These are quite personal, intimate spaces and you want to feel confident that your renovation is going to appeal to the broader market.”

Simple renovations that are cost-effective have the strongest impact, Komorowski says.

“Paint and add new carpet,” she says.

“In the scheme of things it doesn’t cost very much and I definitely feel it maximises the sale price and minimises the time period in which the property is sold.”

Simple, effective and inexpensive upgrades

If you’re renovating for sale, there are some easy changes you can make around the home that will make a dramatic difference, says Sugar Designs’ Helen Tadiello says.

• Stay neutral – Tadiello says colour will evoke a different feeling from each person, so a neutral colour is the best way to appeal to the wider market. However, she warns against painting the whole house white, which could feel sterile. “A white colour with a tone in it will feel more homely,” she says.
• Eyes on the floor – Tadiello says replacing the flooring will create the biggest difference in a renovation. “Most old houses have a mixture of flooring finishes and replacing these with one main flooring finish with carpet in the bedrooms if required will create a continuous feel throughout the house and it will also give the illusion of the house feeling larger than it may possibly be.”
• Revive tiles and splashbacks – If you have dated, patterned tiles then Tadiello suggests spraying them white to look clean and fresh. The same goes for a splashback. “Or you can cover the old tiles with a new splashback like a mirror, or even new tiles if there is enough depth to your current benchtop to accommodate.”
• Hire a stylist – Once you’ve freshened up the house, a stylist can help complete the picture. “It’s a very good idea to pay a property stylist to give you a little advice as to the best way to style the rooms for the biggest impact – it will save your sanity later down the track when it all becomes overwhelming for you,” Tadiello says.

Updated for family life

Michael Wagstaff and his family of five have lived in their Ainslie home for six years and have beautifully updated the property for modern living.

However, the story of its original owners can still be found in the details. It’s the combination of modern amenity and historic features that make this four-bedroom property in Ainslie such a special home.

The property was once owned by Ric Throssell, a well-known Canberra writer, actor and playwright. His pencil notations can still be found on the joinery in the shed.

Michael left these details, along with features such as an open fireplace and timber sash windows, because they added a charming character to the home.

The family loves cooking and entertaining, so the kitchen is now the focal point of the home. Embraced by the living areas and large windows, it’s a wonderful space for family living.

“The original concept was not to over-capitalise,” Michael says.

“We wanted to make a modern, contemporary home while retaining its heritage.”

The expansive native grounds are another highlight of the home. Michael has worked on these over the years and incorporated Canberra red brick into the paving.

Michael, his wife, Lisa, and their three children, Angus, Nicholas and Julia, will be moving to Griffith to be closer to the kids’ school.

No. 44 Ebden Street, Ainslie, will be auctioned on Saturday, April 2 at 9am, on site. Phone Luton Properties Dickson agent Holly Komorowski on 0434 973 987. Price guide: $950,000+. EER: 0. Inspect: Saturday, 10.15-11am and Wednesday, noon-12.30pm.

Cover property

13 Waller Crescent, Campbell
$1.1-$1.2 million

This property offers all the benefits you would expect from an older Canberra home – a great location, a large block and, of course, plenty of character.

The home and its original owners, the Watsons, were featured in The Canberra Times in 1963. The notion of the qualities that make a house a home heavily influenced the design. As a result, careful consideration has been given to the layout.

Designed by noted architect Theo Bischoff and built in 1962, the home has been well maintained and modernised over the years, but there is still scope for the new owners to add their own personality.

A private courtyard at the front of the home leads the way to the entry. It is bathed in natural light, creating a welcoming atmosphere from the moment you step foot inside the home. The entry gives way to a formal lounge with high ceilings and a bright open-plan living area.

The modern kitchen is well placed for entertaining and everyday living, flowing onto the family room and dining room.

Three bedrooms on the upper floor are segregated from the living space alongside the main bathroom.

A rumpus room and fourth bedroom are situated on the lower level with a second bathroom. This space would lend itself to a variety of uses – a parents’ retreat, guest accommodation or a segregated living area for extended family.

The home has been freshly painted and other features include central heating, a double carport and a spacious backyard.

No. 13 Waller Crescent, Campbell, will be auctioned on Saturday, April 2, at 11am, onsite. Phone Peter Blackshaw Manuka agent Debbie Maddigan on 0413 621 131. Inspect: Tuesday and Thursday, 5-5.30pm. EER: 0.