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Why it's important to know your suburb's selling points

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Factoring in what makes your area so desirable is crucial to the renovation process.

Keeping the budget in check when renovating your house to sell can be tricky.

It’s vital you only spend money that will add value to your home, but to do that you need to know your suburb’s selling points.

What makes where you live sought-after? In Sydney’s Inner West suburb of Petersham, parking comes at a premium.

Having off-street parking in this densely populated area is worth its weight in gold. It doesn’t really matter if it’s covered or not - it will still add value to your house.

Spending money on removing an old, unsightly carport in this Petersham home actually added value as it tidied up the space, giving greater street appeal while maintaining that all-important parking spot.

Something else that’s worth budgeting for is getting the bedroom to bathroom ratio right. What do buyers expect in your area? Do your research!

Previously, the Petersham house had five bedrooms and only one useable bathroom - not so much demand for that.

Transforming one of the smaller rooms into a bathroom cost a lot, but four bedrooms and two good sized bathrooms is a much more appealing floorplan.

Again, researching buyers in your area is crucial. Installing a swimming pool in Tasmania may not excite buyers, but in Queensland it would. Knowing where to spend will help you earn it back in the end.

 
 

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