The 3 Most Popular Home Renovations
Home renovations increase the resale value of your residential property with the right planning and execution.
In this blog, we’ll discuss the three most popular renovations that add the most value:
- Kitchen renovations
- Bathroom renovations
- Granny flats
If you plan to build another room or a granny flat, any kind of expansion project can significantly boost your home’s resale price.
Be aware that renovations in North Brisbane, which include granny flats, must comply with city council rules.
Here are three common home renovations and how they improve a home’s resale value:
3 Popular Home Renovations With The Best Value For Money
1. Kitchens Remain The Most Popular Home Renovations
Property experts believe that homeowners can recover up to 120% of their investment in kitchen renovations. This may explain why people instantly think of their kitchen space when planning their renovation.
While there is a high percentage of return, expenditure on fixtures and materials doesn’t need to break the budget. A cosmetic renovation can be a good alternative sometimes to modernising your kitchen. These cosmetic changes can be as simple as new paint on walls or replacing light fixtures.
The primary rule for cosmetic changes: the renovation generally doesn’t change the kitchen’s size or structural elements. In other words, a kitchen extension or installing new flooring won’t be classified as cosmetic renovations.
2. An Expanded Bathroom Does Wonders
Home renovations for the bathroom will be more lucrative if you add a shower to a half bath. Even a half-bath addition to a guest room can raise a home’s resale value, especially if you only have one bathroom.
The actual cost of renovating a bathroom depends on your plan. Some of the common ways to upgrade it include:
- New plumbing and tiling
- Installation of bath and toilet
- Lighting replacements
- Resurfacing and waterproofing
Cosmetic changes for a bathroom can just involve resurfacing the floors and wall, replacing the vanity, or painting the tiles.
When choosing a contractor for home renovations in North Brisbane, a boutique builder can be a better choice for you. Boutique firms deliver the same, if not better, quality of residential services.
3. Granny Flats Improve Resale Value But Laws Exist For Home Renovations
Brisbane enforces strict rules for building granny flats as part of home renovations. The city defines these structures as secondary dwellings for family members.
You can’t build one that’s larger than 80 square metres without development approval. Homeowners also need permission to build flats if they plan to rent it out. Additions that are within 20 metres of the main property may not require approval.
CoreLogic estimates a 30% increase in home values after adding granny flats. If you already have a rental property, a granny flat can increase it by approximately 27%.
The initial investment for granny flats ranges from $110,000 to $200,000.
Find a Boutique Builder For Personalised Service
Home renovations can only add the most value if you find a qualified and licensed builder for the project. For this reason, it’s important to entrust the plan into the care of a boutique contractor.
A professional who can offer personalised service also becomes more necessary for luxury home renovations. Before engaging a contractor, it’s a good idea to request a portfolio or read their online reviews to make sure they have a strong reputation for delivering projects on time and on budget.
To discuss your project requirements