How To Renovate For Profit
Tip 1: Focus On The Right Areas
While you might love the idea of a basement wine cellar, not everyone will. So, focus on the main areas of the home that are going to add value.
Traditionally these are the kitchen, bathrooms, living spaces and outdoor areas. These are the spaces that people spend the most time in, while at home. They are also the spaces that catch people’s eye when they are finished well… or turn them away if they are rundown!
Dedicate your budget to key areas of the home that are going to show you a good return.
Tip 2: Have a Budget… And Stick To It
It can be very easy to get carried away when you are renovating. Reign yourself in by setting a realistic budget for the project. Plan out what you want to achieve and how much it is going to cost you to complete each aspect.
Remember that it is all well and good to have a budget. But, you then need to stick to that budget to make it effective!
Think practically about each purchasing decision you make to ensure you don’t overcapitalise and can make a good return on your investment.
Tip 3: Shop Wisely
Hand-cut antique stone might be an attractive feature, but it is going to cost you more than you can ever expect to get back. Whereas tiles, laminate flooring, glass splashbacks or good old carpet are much more budget-friendly.
You don’t need to be overly frugal and buy the cheapest option for everything as you still need to consider quality. But, make wise choices that aren’t going to break the bank at the same time.
Tip 4: Plan For The Future
Technology is advancing every day and mindsets are shifting when it comes to how we treat our planet. Make sure you future proof your renovations with these considerations:
Sustainability: Make green decisions that will ensure your home is energy efficient. That includes plenty of insulation, double glazing, home ventilation systems, solar panels and more.
Technology: A couple of little tweaks now can ensure you offer a home of the future. Run your cabling within the walls, consider electrical vehicle charging and the plumbing for an installed fridge.
Storage: As a race, humans seem to be accumulating more and more “stuff”. We also want a tidy home we can be proud of. Therefore, clever storage solutions are always welcomed and needed!
Tip 5: Get Expert Advice
You may have tackled a couple of renovation projects in your lifetime. Here at Maintain to Profit, we tackle a couple of renovation projects every week!
That means we have hundreds of inspirational profit-driven ideas and tactics that we are all too happy to share with you. With more than 20 years of experience in project management and renovations, we certainly know a thing or two about the process.
By having Maintain to Profit join your renovation team, we make the process easier. Not only do we manage the entire project for you, but you get to benefit from our skill and expertise also. This is what Tasula Pervolianakis (one of our recent clients) had to say about working with us:
“A huge thank you to Ramin and his team for the 5-star job they have just done with our bathroom renovation, Ramin took all the hard work out of our hands and completed the job within budget and the time frame given, communication and advice given during the project was such a big help when decisions needed to be made.
All the tradesmen who came were very professional and work has been completed to a high standard.”
So, if you are ready to renovate for profit, get in touch with the team here at Maintain to Profit today. We can have an obligation-free chat about your upcoming project and how we can help you achieve a great return on your investment.