Sunday, July 1, 2007

Renovation Tips

It may be high-time that your home needs a revamp. But before you give the go-ahead signal to your interior designer for an opulent classical theme or sign up for a big renovation loan, think strategically. Here are some renovation tips I would like to share with you.

Ask yourselves these: Do you intend to stay in this place through your twilight years? Or, do you intend to upgrade to a larger space quite soon? Plan your renovation based on your family's projected needs rather than any fanciful decor ideas or current wants.

Homes that are well renovated and maintained fetch higher prices in the resale market compared to un-renovated ones. This real estate maxim holds true whether you live in a flat or a semi-detached house. However, you may not get back what you spent on the renovation if you had splurged on pricey marble fittings or unusual extras like a sunken conversation pit.

While it may not be possible to determine exactly how much a good renovation will increase the value of your property, there are some general guidelines property pros swear by, one of the which is that a well-executed, thoughtful renovation can entice prospective buyers to pay more than they would otherwise have if they had seen your home in its original dingy state.

So even if you intend to sell on in a year or two, it can pay to do a renovation now. Besides, if it is a major renovation like adding a new bathroom, your family can enjoy it until your move.

  • Plan Your Budget
How much you should budget on your renovation really depends on the condition of the property. "In general, a renovation should cost between 10 to 15 percent of the property price. However, if your property is really old or in a bad condition, it might be necessary to spend more."

Think carefully before you sink serious money into fancy hi-fi equipment or designer kitchen cabinets.

  • The Right Reno's
Dark and cramped spaces obviously do not go down well with prospective home buyers. Instead, creating an illusion of spaciousness and abundant natural light is a good way to enhance the value of your property.

Bring more light into your home, especially if your floor area is small. Try to remove some non-structural walls and partitions and replace them with glass panels instead. Also, don't forget the importance of proportion. "Furnishings and fittings should be designed in proportion to the size of the home. For example, an extremely large sofa in a tiny living room would make the place appear smaller."

  • Save On These
As a general rule, avoid renovations that only appeal to those with niche tastes. No point of having designer bathroom fittings that may only appeal to buyers with exclusive tastes, but its significance may be lost on other potential buyers.

Using bathroom fittings of a moderate quality will do. Certain fittings like chandeliers, expensive marble flooring's or fancy curtains may also not make much of a difference to the value of your home.

With all these, remember, Renovate Smart!

Tips & Tricks for Making Your Home Beautiful from

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