In this market where property prices have softened a little, and where the buyers are back in the driving seat (I can attest to this having just purchased and seeing so many properties being passed in at auction), it’s hard to know whether you should stay or sell right?!
Think about what’s driving you to a move. Is it that your home is in need of updating, or maybe there just isn’t enough space for your growing family, or is it simply a lifestyle change that you’re after? Depending on the reasons, perhaps there are things that you can do to your home right now that could make it more appealing to stay. And in the process of doing this work you may be making your home more appealing for when you do come to sell.
I’m a big believer in keeping your home up to date. If you keep regularly investing in your property when it comes to selling you will appeal to a larger market, and you will achieve a better sale price. There’s no doubt about it, in my renovations for sale I’ve proven time and time again that this is the case. So for me when I’m thinking of either staying or moving on, doing a small renovation/extension or update whilst I decide is never a waste of time, money or energy. You will get a good return.
So what areas should you look at keeping up to date with? And what is possible when there are drivers pushing you to look at new properties? Think about this:
Keeping things fresh
I’m not talking re-modelling your bathroom or kitchen here. I’m focusing on those surfaces where you see wear soonest. That’s your floors, walls, timberwork, and your soft furnishings (window coverings, rugs etc).
I advise clients to repaint every 7-8 years, especially if you have children and pets. A new paint job both inside and out is the cheapest and quickest update for your home. Get a colour consultant in to help you choose the right colours for your home for an even better outcome.
I do like to pair a paint job with updating flooring. That might be sanding and staining your current timber floors, replacing older carpet for new or perhaps think about engineered timber as an option instead of carpets. You’ll find that if you choose a harder material for your flooring it will last you until you come to sell. Then add some fresh rugs and maybe address those old curtains and blinds and all of a sudden your home feels new again.
Remodelling for a better life
You don’t always have to move on to make your home more functional for you and your family. Think about engaging a designer and draftsman/architect to help you navigate a small extension, it could be either extending out, up or both if space permits. A good team will assist you to design your new space and navigate the council approvals required to start your build.
I’ve worked on several homes recently who were either adding a 1st floor extension for more bedrooms and bathrooms, or pushing out into the back garden to create a larger open plan living space (kitchen, family room and dining area). It’s amazing the difference a larger room or extra rooms can make to relieve the pressure for a family. Plus, you get invest what would have been the moving costs into your existing home, easily $100k+ in Sydney!
If this all feels a bit daunting and you’re looking for some advice don’t hesitate to call me for a chat about what’s possible in your home. You can find my details on the contact page of this website, or click here.
NOTE: Images used under Fair Use, and the above commentary is a personal view and not commercial in nature, and were sourced from a variety of online sources and personal archives.