Whether you’re selling Mudgee real estate, a car or a toaster, there’s a general rule of thumb when it comes to adding value. It probably goes without saying but the better something is, the easier it will be to sell and the more attractive the eventual sale price will be.
When relating this rule to the sale of Mudgee real estate, there are two rooms that when finished off well will typically add the biggest impact on buyers – the kitchen and bathroom. A kitchen or bathroom in need of repairs or modernising will generally be perceived as requiring costly renovations. When an owner has left an area unloved buyers will often think the renovation must have been too much of a hassle or too expensive for the seller to take on. It also doesn’t give a great impression if the owner has ‘let things go’. Buyers viewing a property that’s exuding neglect will likely assume there are more issues than simple cosmetic ones and put it in the too hard basket.
Buyers will often make ultra conservative guess-timations about the cost of repairs and renovations before making their offer on a home, and their offer is adjusted down according to what they believe they may need to spend. Whether you’re considering large renovations or updating a room or two, it can be worthwhile doing the job yourself. If you’ve ever seen an episode of Selling Houses Australia you would no doubt have been blown away by how little it can actually cost owners to revamp and style their homes to great affect, and how dramatically this can influence what buyers are willing to pay.
At the end of the day, a house with a well presented kitchen and bathroom has the ability to create the impression of luxury and ‘WOW’ potential buyers. So the equation is fairly simple; if you’re looking for ways to improve the value and saleability of your Mudgee home, and your finances permit, consider a bathroom and kitchen renovation. This will be beneficial whether it be for the possible future sale of your Mudgee property, or to simply improve the bank’s view of the value of your home to help with financing the purchase of an investment property.
If you’d like to know more about optimising your home’s potential before putting it on the market, please contact us at Professionals Mudgee Real Estate.