TO RENOVATE OR NOT TO RENOVATE BEFORE SELLING YOUR HOUSE IN PERTH?
It’s important to consider the pros and cons of house renovation in Perth before selling your house.
The cost/benefit question starts with can you afford house improvement to bolster the sale price of your house? If not the following house renovation questions don’t apply except if you can borrow money to make improvements before you sell.
If you plan to renovate your house on a big block of land you might want to consider a land subdivision in Perth before house renovations. That way the sale of land can fund the renovation of your dreams. Alternatively, you could build a new house on the extra block and use the sale of the house you were going to renovate to pay a big deposit of the newly built home.
Benefits of House Renovation
There are a few benefits of house renovations in Perth if done properly.
- Your property value and therefore house selling price should improve.
- If your house does not sell, at least you get to live in a better home until it is sold.
- House renovations can halt the deterioration of your house. Eg water inundation, termites and other pest animals, asbestos fibres coming of replaced Perth roofs and fences.
Cons of House Renovation
There are a few house renovation problems.
- Failing to get a good return on your Perth house renovation investment. This can happen if:
- the amount of money you invest in house reovation far exceeds property values in your Perth suburb.
- a builder/house renovator does a shoddy job or goes broke while renovating.
- the style of renovation is not liked by most buyers. To be able to sell your house quickly at a lower price, less costly renovation might be better than expensive renovations. Letting a quick buyer decide what renovations they like rather than you deceiding what buyers like might be a better strategy. For example if you spend repainting yellow and purple walls, you might only attract buyers who like yellow and purple walls. Repelling most buyer is not a good house renovation idea.
- There’s a considerable amount of local government red tape with house renovations in Perth. Fortunately good house renovators like DAN (phone number , can submit house renovation plans to your local government for approval.
- When there’s a building boom, supply and demand dictates there’s a shortage of builders and building materials. Supply prices are up but if you and when you sell in a boom a benefit will be a good sale price.