The Rules of Reno To reno’, or not to reno, that is the question. And it’s a conundrum that burns at the heart of home sellers and property renovators the world over. Exorcising optimum return for each dollar spent, however, isn’t an exacting science, rather one that varies from project to project. This in mind, we’ve composed a hit list of pointers to help unlock the financial potential that lies within your home. It’s your biggest asset, after all, so read it and reap… The Ten Commandments It doesn’t matter what time of year - or, for that matter, the state of the economy - there’s always someone looking to buy a new home. That said, with the current climate favouring the buyer, it’s more important than ever to ensure your property is ‘market ready’, and that you’re tooled up as a confidant and successful salesperson. 1 - Know Your Market 2 - Watch your spend Check out similar listings in your ‘hood and take note of room ‘quality’. This will stop you splashing out on an expensive designer bathroom if the profit margin doesn’t allow for it. Everything, of course, is relative which means that a $30K bathroom reno’ may be inappropriate in a $200k condo. It may be that more modest renovations (that keep you safely within neighbourhood averages) will yield significantly higher, dollar for dollar, than mega-transformations. 3 - Spend Wisely Kitchens are an astute area in which to spend budget but, as with all home improvements, the trick is to balance outlay with visual and ergonomic return. It’s probably better to forgo that five thousand dollar hob and opt, instead, for new cabinetry, great door handles and a killer sink. Similarly, don’t splash out on genuine limestone if tradition shows that even the most expensive refurbishments reap only a few thousand dollars. Most DIY stores carry good quality ceramic ‘look alike’ tile so consider this route as a more cost effective alternative. 4 - Reach for the paintbrush 5 - Go With the Flow Endeavour to create visual continuity from room to room. Does your kitchen style relate to that of your connecting dining room? Do your hallway schematics compliment your lounge? If considering a major re jig, consult with your contractor to ensure potential alterations blend seamlessly with the rest of your home, adding, as they do, to accommodation and overall beauty. And remember: poorly matched additions can DECREASE market value, so please - no UPVC conservatories plonked onto Georgian town homes. 6 - Create Curb Appeal 7 - Balance Mass Appeal with Style Don’t be too individual if optimum marketability is your goal, but on the other hand don’t be too pedestrian. Good taste is worth more than no taste so avoid overt customisation to ensure potential buyers can picture your home suiting their needs. Sadly, this means your faithful recreation of The Palace of Versailles in Artex, which currently dominates your front room, is valueless. Yup, one man’s meat is another mans poison. Home selling FACT. 8 - Fresh is Best If you’d prefer to avoid lavish outlays (but still want to turn a profit) then the best you can do is clean, stand back… and then clean everything again. Spruced homes are interpreted as loved homes and potential buyers will shell out more for these. Eradicate all unpleasant smells such as pets, toilets and ashtrays, and replace them with fresh aromas. 9 - DFY versus DIY 10 - Spread your Spend Don't neglect the rest of the house just because you’ve spent up in the kitchen. Ok, so you may have made it beautiful but your labours will be compromised if other rooms have cracked plaster and dreadful 1970s shag carpeting. Make sure your entire home is updated to as good a level as possible by spreading your renovation budget accordingly. Wooden floors, for example, generally bring back their costs, as do quality carpet and tile. A dozen top tips, in a nutshell, to add value Parking – Some buyers simply won’t view if parking is a problem. This in mind, squeezing a car space from your garden will impact positively on value or, at the very least, make your home more sellable. Apply to the local council to ‘drop’ the pavement outside your home so a car can be driven onto previously decorative ground. We’ve facilitated this on several occasions and it always reaps rewards.Better kitchens equals better sales price. This is true in most cases but if it so happens your buyer hates glossy red cabinetry, then your advantage can become their disadvantage. A ‘difficult’ kitchen (in terms of style or condition) represents a two fold financial issue to buyers Gardens, patios and decks - max these up to max up price. Buyers, more than ever, crave these spaces. Even if you’ve only a tiny wee terrace it’s time to dress to impress. Clear the clutter - square footage, come sales time, means more dosh in the bank, so endeavour to create flexible, roomy environments. The same applies to storage – if it seems you’re busting out then the impression will be that you’ve outgrown your space or that storage is simply inadequate. Conservatories Lighten up - harnessing natural light and employing clever artificial illumination are both sure fire winners. It’s even worth tailoring viewing times so buyers see your home at its optimum. Central Heating and air con’ – having to install these is perceived as a major disadvantage so if you can meet the costs, then get busy. Better still, do this long before putting up sale signs so you also enjoy the benefits.Front doors Bear in mind that not everything you like will be perceived as a useful USP. A swimming pool, for example, that consumes your entire yard, will be off putting to buyers who want to indulge their love of horticulture but nevertheless tempting to those who’d rather exercise at home than join a gym.