Perth Home Renovations That Can Give You A Return On Investment
If you’re planning on remodelling your kitchen, adding a second storey addition, or undertaking a re-sell project in the perth home renovations market then check out our latest guide published on Real Estate View that uncovers Perth’s Renovation ROI potential and the hidden capital growth market.
Real estate view reached out to us recently to provide some insight into the Perth home renovations market uncovering the areas that are primed to become a potential gold mine for capital growth and the types of renovation projects that can give you the best return if you’re on the move. Take a look at the full article here and get the full scoop on how to get the most out of your reno dollar when it comes to taking on a home renovation project or second storey addition in Perth’s current market.
Home Renovation – Kitchen, Mosman Park, Perth
Key Considerations Before Taking On A Home Renovation Project
Whether you’re renovating your home to sell or you’re wanting to stay put and upgrade your home, it’s important to know that not all home improvements are designed to give you a return on your investment.
We love designing and building stunning renovations and exquisite second storey additions that transform houses into ‘never want to leave homes’ for families across Perth. But after 20 years in the Perth home renovation industry and helping scores of homeowners renovate, refurbish and expand their homes, we know that the money that you put into a reno isn’t always a 1:1 investment in your home’s profit potential and value.
Through all of these projects, I’ve learned many rules about how to stay on track with a home renovation and how to help people get the most value out of their reno dollar. In fact, it’s one of the driving factors that pushed me to design a modular second storey addition process aimed to cut down construction times by up to one-third and eliminate unnecessary blow-out costs.
Market Conditions and Areas Primed For Perth Home Renovations
The property market is much like a rubrics cube so it’s important to understand each side of the cube before you embark on any home renovation project. In Perth’s current climate and its looming growth cycle, many home owners are finding it more profitable to stay in their existing home, especially if they are situated in areas that have a higher median house price which are set to benefit from the low interest rates and an increase in supply and demand.
Whilst the emotional appeal of a home renovation may be a big driver for you, it’s equally important to know how to set a reno budget so that you aren’t over-capitalising, understand the demand in your area and what renovation projects can produce the greatest impact on your home’s market value.
For example, if you live on a small block close to the city, investing in a second storey addition to gain extra space may be a very cost-effective solution for you. Plus, if your family needs room to grow, an amazing second storey addition that adds an extra bedroom, in the right area, has the potential to bump your home value quite significantly whilst elevating your home living lifestyle.
Before and After Second Storey Addition in Mount Hawthorn, Perth
Whether your renovating your home for living or re-sale there are lots of factors to consider, the biggest one being longevity for you and other potential home buyers (if you’re planning on selling).
You can easily fritter away money on home improvements that actually do very little to move the value of your property upwards. So, if you’re new to the home renovation game it pays to get sound advice from experts who know how to tailor your dreams and ideas into improvements that will add value to your home.
If you’re looking for more room to grow with a second storey addition or you’re not sure what type of home renovations will rate with potential buyers, then go here to book a free design consultation and I’ll set aside some time to personally talk through your design ideas, and what it will cost you to ensure you’re set up to get the most out of your investment.