Read this before you renovate!
It is officially the Summer season (not that you would know it so far), and, if you haven’t already, it’s generally a good time to begin some of those renovations you have been thinking about.
Considering areas outside of Wellington, such as our fair city, Porirua and the Kapiti Coast, are becoming more and more appealing to investors and out of town buyers, now could be a good time to consider sprucing up your house to sell.
HERE ARE some important points to consider if you are seriously thinking of renovating
The first and most important is money! It can cost a bit of money to check the feasibility of your project. My suggestion is to have the property appraised by a trusted real estate agent, I gather Steve Slicker is pretty good. What’s the house worth now, what will it be worth with the work is done?
Make sure you have your finance sorted and understand how the process works from a financing perspective. It’s not as simple as the banks giving you access to all the funds needed for the project, they will want to see plans, valuations and builders fixed price contracts covering all the work. Funds may have to be progressively advanced.
So then do you want to renovate the property to live in or do you want to sell for a tidy profit?
This all depends on what outcome you are hoping to achieve from renovating. Everyone’s situation is different. Whatever you want to achieve, make sure you explore all options. What is the cost of trading up in the same area, compared with the cost of renovating and extending what you have?
Top areas to renovate that will add value:
Kitchen, bathrooms and think of your street appeal, what is your garden looking like? You could also consider adding another room
If you are thinking of selling your home, would like an appraisal, or want more information on the Upper Hutt property market please call me on the numbers below or contact me via email firstname.lastname@example.org alternately fill in your details here on my website.
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