How to unlock your home's value with a renovation

Renovations and extensions are proven pathways toward unlocking value or bringing older dwellings bang up to date – and making them highly prized by buyers as turnkey homes.

However, building projects are not for the faint-hearted in a post-pandemic world shaped by increasing costs, supply-chain pinch points and financing uncertainties.

Jake Battenally of Ray White Canberra, who lists this week’s Fraser feature property, says the fully renovated home shows that the risks can be worth the journey.

“The owners loved the location, but also wanted additional space for a growing family,” he says.

“For me, the main attraction is the open-plan kitchen and living area, the beautiful four-metre raked ceilings [and] the cosy fireplace.”

Battenally says renovations like this one strike a chord with buyers.

“A home you can move straight into is a big drawcard with build costs and timelines blowing out,” he says.

Jess Smith of Stone Gungahlin says home owners considering renovations and extensions should concentrate on meeting their lifestyle needs, but some areas should get special attention.

“Kitchens are the showpieces in most homes, not only for practical reasons but also because of their role as focal points,” she says.

“They are where the family comes together and usually where guests gather during entertaining.”

Smith says renovatons and extensions should also feature multipurpose spaces for working from home, and incorporate plenty of storage.

“And en suites and bathrooms should be generous in space and very high spec – give yourself some luxuries,” she adds.

Change things up

Add real value

The stratospheric rise of home prices has opened the option for renovations and extensions to maximise value. It’s an opportunity to future-proof a home as a solid investment.

Expand the footprint

A big driver is often the need to create more space for a family or to create work-from-home spaces. Perhaps a covered outdoor entertaining area. Maybe the lot.

Latest features

A renovation and/or an extension is an opportunity to incorporate the latest in fixtures, fittings and finishes. Upgrade your level of luxury and lifestyle. Go on — you deserve it!

Feature property

There’s a level of pleasure that comes from taking something old and making it new again. And not only new – even better.

That’s no doubt what the vendors of this Fraser home feel about the new lease of life given to this stylish entertainer.

The dwelling, which sits on a commanding 941-square-metre corner block, demanded a fresh start.

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Quite a bit was packed into this big renovation, and it now delivers four bedrooms, two bathrooms and generous garaging for four vehicles.

There’s just over 200 square metres of open-plan living that receives an abundance of natural light through full-height, double-glazed windows.

The floor plan is simple, but effective: three bedrooms in one wing and the main bedroom in another, along with a central kitchen-dining-family area that offers easy access to an outdoor space and backyard.

Highlights include spotted gum timber-look flooring, high ceilings and a Lopi gas fireplace – a welcome inclusion at this time of year.

The benchmark of any home’s quality is often the kitchen, and this one gets a big tick.

It has custom cabinetry, a central stone-topped island and integrated appliances, including a Fisher & Paykel fridge and plenty of Bosch bling.

The main-bedroom suite is highlighted by four-metre raked ceilings, a luxury en suite and separate study nook.

Outdoor entertaining happens under a generous covered patio, while the garden is low maintenance with a grassed play area and fire pit.

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