25/4/2015Author: Geraldton Property Inspections

Top 7 Home Improvement Myths

If you’ve made the decision to Improve your home.

Your mind may already be racing with questions about how to increase its market value. In many cases, home improvement and renovations can lead to an increase of the eventual sale price of a property. Yet to maximise your net return, you’ll want to prioritise these tasks carefully. The right home improvements will be both financially viable and will add value to your property.

It’s also helpful to take a closer look at the common myths surrounding home improvement here are our top 7.

Myth 1: All renovations will add value to a property.

Some projects do add value to a home, but others may deter potential buyers. One example of this latter scenario would be if the owner knocks out a wall between two small bedrooms to create one larger bedroom instead. If you decided to put it on the market and the buyer was hoping for a property with more bedrooms, they would be disappointed with this supposed improvement. Renovations do not always equal added value.

Myth 2: More square metres automatically equates to more value.

Added space can definitely be a good thing, but the new space should be usable. If you have added space to the games room but it’s not up to the same standard as the rest of the home, it could stick out like a sore thumb and detract from the rest of your property.

Myth 3: Neutral, safe paint colour tones are the best choices.

There’s a common misconception that painting your walls a standard beige or off-white colour will always help you stage your home more effectively, this can be true for some. Consulting with a professional interior designer can be useful, because they can help you add some interesting colours and textures to an otherwise bland design. This could make your home look more unique and valuable.

Myth 4: External renovations should take a backseat to internal ones.

Before any person set foot into the interior, they will get a first impression of your home from its exterior. Because this is the first thing that people are going to see, it’s important to fix any areas that look like they are in neglect or disrepair, even if there’s nothing wrong with it. It’s helpful to discuss renovating strategies with an expert to determine where to start, but many will recommend beginning on the outside and working your way indoors.

Myth 5: A new paint job will hide other problems.

A fresh coat of paint can work wonders, but it shouldn’t be used to hide rotted wood, fungal damage, holes from leaks, or cracks in the walls from the ground settling. It’s usually best to fix these problems before you paint and get them fixed by a qualified trades person.

Myth 6: It’s better to turn your garage into a living space rather than use it for car space.

This is untrue in most cases. Garage space is important to many people, who don’t want to deal with street parking. A renovated garage can be seen as a waste of space unless it is of the same quality and size as the rest of your house. If you do decide to transform your garage, it’s better to do so on a temporary basis so that you can change it back to its original use, especially if you decide to put it on the market. And also make sure it is done by a qualified trades person.

Myth 7: You can always save money with Do-It-Yourself (DIY) jobs.

If you’re particularly handy or have some background in construction, you could certainly take on a few jobs around the house. Many of us can fix a leaking tap or change a light fixture. However, even these tasks can lead to disaster for others. If you try to take on more than your expertise provides, you may end up spending even more after you hire a professional to fix your mistakes. You’ll also need to take council laws into consideration before beginning any renovations. It’s a good idea to consult with a licensed professional before you take on any home improvements on your own. Renovations that don’t meet council approval could lead to a reduction in valuation for your biggest investment.

All the best the Geraldton Property Inspection Team.