Reality renos – styling for sale or self-indulgence?
Another week, another reality renovation program, showing how easy it is to sell under the hammer for large profits. So what can we take from their results, and how much of it actually translates to property profit for the average Joe or Jane?
Daily, we ride the emotional highs and lows of programs like The Block, House Rules and Selling Houses Australia.
Though they provide great entertainment, there may be more effective ways to get more bang for your renovating buck. Renovation programs are a good rough guide to making profit through renovating property, but following the blueprint of these programs may result in over-capitalising.
It is often said that kitchens and bathrooms sell homes, and this is true to a point.
We see a lot of high-end kitchens and bathrooms with luxurious extras such as Caeser Stone bench-tops and European fixtures on television – but does this actually equal a higher return?
The time, effort and money put into a brand new kitchen or bathroom does not necessarily equate to more money in your pocket, so decide wisely and do your research carefully before embarking on this investment.
For those with a building or trade background, it may be a good path to go down, but if quick turnover is what you are after, consider investing elsewhere.
Arguably, the quickest and most effective ways to add value to a property are through painting and flooring. Both of these are relatively inexpensive and you will see an instant return. Inexpensive light fixtures and blinds can also turn the dated and dull into modern contemporary.
Dressing for success is crucial when selling a home. Property stylists (also known as home stagers) are becoming commonplace and electing to sell a home vacant or unstyled could result in being behind the eight ball.
Many of the decisions made on reality shows are personal, whereas property stylists cater for the largest audience possible.
Contrary to popular belief, property stylists are not interior designers – they are experts in the real estate market and what furniture and decor will appeal to the widest audience.
Many of the decisions made on reality shows are very personal, whereas property stylists cater for the largest audience possible. They mix advertising and marketing nous with design know how to help deliver you the right result for your property in the current market.
Comparing sales prices on renovation programs to a traditional Saturday auction can be like comparing apples and oranges. This is largely due to the sheer weight of marketing power the television stations have at their disposal.
So do reality renovation programs have all the answers when selling your home?
Do they have a place?
Anything that gets people talking about the value of interior design, property styling and renovating is a good thing in my books. Just know where to draw the line between fact and fiction.