Bringing Your Home and Garden Into the 21st Century

2 Vital Things To Understand When Renovating An Investment Property

Buying a run-down property to renovate is so popular in Australia that it could almost be considered a national pastime. There is something intrinsically appealing about taking something that has clearly seen better days and transforming it into a comfortable, contemporary and attractive home.

Renovations generally fall into two categories. Firstly, they're done by people who want to create a family home that they can stay in for many years to come. Secondly, they're done by investors who want to modernise and improve a home for profit. On the surface, both types of renovations might appear to require the same things, but there are some big differences that are vital to understand.

If you fall into the latter category and you're renovating for investment, then it's important to identify the key ideas to focus on. Whether you're renovating to 'fix and flip' or to rent out the property, here are two vital things to consider when planning your renovation.

1. Kitchens sell homes

Although this may be a cliche, it's still a reality when it comes to creating a saleable or rentable property. Of all the rooms in the home, you should ensure that your kitchen looks amazing and is a striking and modern space. However, it's also a mistake to over-capitalise and spend more than you need to.

Look for wholesale kitchen suppliers where you can buy good quality products for considerably less than the end of the line retailers. Sometimes, these may be last season's products, but if you're creating a neutral look with broad appeal, it's easy to spruce the room up with a few well-chosen accessories.

2. Create a blank canvas

Whether you're planning to sell or rent out your renovated property, it's important to remember that you're trying to appeal to as many prospective buyers or tenants as possible. This means putting your personal tastes in colour, design and materials on the back burner in favour of a neutral, timeless and universally-appealing style.

This rule applies to virtually every feature, from wall colour to kitchen countertops. While it may be tempting to add a bright red feature wall or an on-trend brass splashback, it's wiser to stick to a look that a future owner or tenant can inject their own personality into. Features like this will potentially alienate your future audience, and they'll also date rapidly as design trends change over the coming years.

For more information, contact a kitchen wholesale supplier.