Renovating A Home for Profit? Here Are 3 Tips

Man painting wall

Many Australians think about renovating their home before they put it on the market – in fact, the Australian home remodelling market is estimated to be worth over $32 billion, with Australians spending over $7 billion on renovations annually.

There are many upgrades that a home owner can make to their property. Painting the home might make it look good but it won’t necessarily significantly increase its value. Tiling, on the other hand, can improve a home’s value as it adds not only to the aesthetic of the home but to its functional appeal, as well.

Many Australians looking to upgrade their home consider these three options:

1. Waterproofing

Nobody will purchase a home if there are signs of water damage. Waterproofing is a home owner’s best bet to prevent water damage. It not only helps maintain a home’s aesthetic appeal but also helps avert structural damage from water seeping into the property. As such, waterproofing could definitely improve a home’s structural integrity. In return, the property will likely score higher in an appraisal.

2. Flooring

A new floor will improve the aesthetic value of a home and make it look modern, luxurious and clean. On the other hand, an old floor might make a home look worn out and structurally weak. Tiles made of stone and hardwood floors instead of carpets are good value-adding options to any home, as buyers love floors that are durable and easy to clean. So, those involved in the tile industry may want to leverage this trend by working with trusted tiling tool suppliers to achieve a polished, perfect finish to their materials.

3. Kitchen

A home with an updated kitchen is likely to sell faster than one that requires a kitchen remodel. Many homebuyers gravitate towards remodelled kitchens with updated appliances. A kitchen remodel might cost a lot, but it is definitely worth it. If budget constraints prevent a full remodel, simple remodels such as replacing fixtures, counter tops, cupboards and important electronics are a good place to start.

Home improvements can be costly and time-consuming. However, when selling a home at a profit, the investment will be well worth it.