With summer back in full force, some of us are feeling the urge to get back into renovating our properties.
Once the renovations are done, many home owners are opting to sell due to demand for homes across the country.
In fact, Core Logic reports that flipping properties is becoming more popular in capital cities, with a 0.6 per cent rise in property flipped in less than a year and 0.2 rise in property flipped between one to two years compared to 2012 data. Regional areas saw rises of 0.2 and 0.5 per cent over the last five years.
The focus on spending money smartly and making practical enhancements has drawn buyers to slightly older homes. For those thinking about upgrading a property, keep in mind the trends regardless of whether it is going to be sold or not.
- Spare rooms are now multipurpose rooms – a crafts space, music recording, library and wine tasting are all popular ideas. The potential is endless and creates an interesting talking point about the home.
- Upgrade gardens as the summer barbeques begin. Easy maintenance gardens with pavers or pebbles and minimal grass are options gaining popularity.
- Replace plain timber outdoor table with modern and colour-themed outdoor lounges or day beds, overflowing with textured throw pillows in complementing colours.
- It’s no secret that kitchen remodels have one of the highest returns on investment, so getting rid of a dated splash back is still high on the trend list. Replacing colourful tiles and cupboards with clean, neutral finishes allows the home owner to accent with colour, rather than dominate.