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Make the most out of your renovations!

Attracting buyers in the lukewarm property market Sydney currently faces is a tough ask for many home owners looking to sell this season. Up until a couple of years ago, the answer to attracting the right crowd was to invest in a renovation; the kitchen, the bathroom, or both, being the most popular choices. But, as the die out of once high-rating home renovation shows and ‘house and garden’ magazines can tell us, many are now questioning whether the investment in home renovations really make a difference at the end of the day.

Dollar for dollar, what is your investment doing?

Can you really risk several thousands of dollars on a kitchen or bathroom renovation without guaranteed returns?

Time is also an issue.

How much time can you afford to the renovation, to find the right people for the job, the renovation itself and the clean-up for inspections once finished? Can you really afford the financial and time commitments a significant internal renovation demands?

The obvious answer, no not really.

The market has changed. If you really want to add value to your property renovations is probably still the way to go, but, the renovations you choose to invest in have to be cluey. Be smart and plan ahead; who is the targeted demographic, why, and be realistic about your expected investment v. your likely returns.

There are some tactics that don’t change regardless of the market. The consensus is that best way to add value to your property is to add another bedroom, clear out the study and advertise it as a three-bedroom house as opposed to a two-bedder. You’ll be surprised at the turnout as long as the pricing is realistic. But this isn’t a real renovation; you aren’t changing anything significant in your home and guess what—everyoneis doing this.
So how do you stand out from the crowd?

External renovations have become a popular choice in recent years because, quite frankly, it’s a way to spruce up your home without the pain of being displaced while strangers lumber away under your roof. And when I say external, I don’t mean new gardens or water features. Practical additions like new fences, solar panels and roof renovations have become popular (and less intrusive) renovations that can really leave a lasting impression on buyers.

The addition of slate roof tiles, while pricey, will likely gain you better returns than if you’d invested in a kitchen or bathroom. Why? In a practical economy, practical features sell. Slate roof tiles, installed properly with high quality slate tiles, have a lifespan of one hundred plus years. What’s more, a slate tile roof is something the buyer can talk up when they sell the house on as well. And finally, unlike a kitchen renovation, slate tiles don’t have to be maintained for twenty odd years and re-renovated when the buyers are ready to sell. Slate roof tiles are a high yield investment because the qualities they bring to a home won’t tarnish with age.

Another big game changer to how property sells has been the move to online advertising. Buyers have a larger pool of homes to choose from. Differentiating your home from competitors is about standing out in a profile picture that buyers spend seconds scrolling though. Slate tiles can help enhance that first impression, not just at the door step, but at computer screen, where 100% of real estate advertising is now directed.

So be smart with renovations, make an investment that will likely outlive you, with slate tiles for your home!