House flipping increases in popularity every year. With high rating renovation shows like The Block, many are choosing to renovate for resale and making a bucket load in the process. If you’re looking at giving your property an uplift, there are a few key factors you should consider.
Firstly, you need to know your demographic.
There is no point building a 5 bedroom family home in an area that supports predominately young professional couples!
The floor plan is extremely important, it needs to be functional and support modern living. That means bathrooms in the centre of the house close to bedrooms and Kitchen/ Meals and Living areas toward the rear. Hopefully , enjoying that north facing backyard.
Having a budget and sticking to it is critical. When renovating it is so easy to go overs and sometimes that money may not be recaptured. You don’t want to overcapitalise!
Want to know more about renovating for resale? Read the full article here.