Contracts – Prime Cost Items

Some new house building contracts will have ‘Prime Cost’ items.

These are used for fixtures, or fittings, which the Client requires, but have not been finally selected prior to signing the Contract.

An example would be they want a professional level cooking appliance. but have not decided on the actual unit.

So the total contract price reflects the cost of building the house the builder will put in an estimated cost of supplying the particular fitting or fixture.

This price will reflect the cost of the item only.

The builder is not allowed to add any profit, administration, or labour costs, to prime cost up to the amount stated.

These are considered to be included in the overall contract price.

If the price is exceeded he is able to add his overheads (normally 20%) on the additional amount.

You are entitled to see a copy of the invoice as proof of the price paid by the builder.

Example

You might want an expensive European oven that wasn’t currently available from the builders local supplier.

The builder would put in the contract schedule a prime cost item of say $3,000 for the oven.

Once the price of the oven, delivered to the builders store, become known the contract price can be adjusted.

In the example above if the final price of the oven to the builder, with normal builders discount*, is $2,500 the contract will be reduced by $500.

Alternatively if the price was $3,300 the final price will be increased by $360.

*If the builder got an additional cash discount he keeps the benefit of that as he has to cover the cost until he gets paid at the next progress payment!

Watch Out

You need to check that the prime cost amounts in any quotation are reasonable. (For instance if you are planning for expensive tiles make sure the prime cost amount for tiles is enough for the tiles you like)

In order for a builder to win work builders may underestimate the cost of prime cost items. They know the contract allows them to increase the cost to you if they ‘have made a mistake’ in their estimate.

The more Prime cost items in a contract, the greater the chance of cost overruns!

 

See the following link for another cost item you need to be aware of: Provisional Sums.

 

 

See similar posts in Contracts

 

How To Choose The Right Wardrobe For A Small Space

Guest Post by Lila Bennett

Wardrobe management can often feel like a strategic chess game, especially when space is a luxury you can’t afford.

Imagine trying to squeeze your unique fashion collection into a compact room.

It’s no easy feat. . . . . But fear not! . . . . Choosing a wardrobe that encapsulates your style and optimizes storage can turn the tide in this clutter war, making even the smallest spaces a haven for your treasured attire.

Here are some ways to select the ideal wardrobe for a confined space:

Understand Your Needs And Budget

When choosing the perfect wardrobe, it’s essential to assess your needs thoroughly.

Are your shoes taking up half your current storage?

Or do you own a variety of garments that require ample hanging space?

Possibly, a balance of shelves, drawers, and hanging areas is what you’re after.

Identifying your storage priorities is the first step toward making an informed choice.

It’s more than just about counting your shoes or clothing items.

Think about the variety of your belongings.

Do you have bulky winter coats, long dresses, or formal wear that need more vertical space?

Or are you a fan of neatly folded apparel that requires extra shelving?

Your wardrobe should not only store but also organize your items effectively, catering to your specific needs.

Lastly, considering your budget is crucial when hunting for the ideal wardrobe.

With the variety of options available, finding cheap wardrobes that don’t compromise quality or style is feasible.

Just remember, a wise decision balances cost, functionality, and aesthetics.

Get The Right Measurements

In a small space, every cm counts.

Therefore, it’s crucial to get the dimensions of the room and the proposed wardrobe spot on.

You’re not just fitting a piece of furniture but integrating it into your space.

But it’s not just about measuring the room and the wardrobe.

Consider also the doorways and staircases the wardrobe must pass through on its way to the room.

Remember, the goal is to make the wardrobe look like a natural part of your room, not an imposing intruder.

Getting the correct measurements ensures your chosen wardrobe enhances your room’s appeal.

Consider The Wardrobe’s Interior Layout

Don’t overlook the importance of the interior layout when picking out your wardrobe.

It’s not just a box to toss your clothes in; it’s your personal, organizational tool.

The layout dictates how easy it’ll be for you to store and find your items.

In the best scenario, each item has its dedicated space, eliminating the time-consuming hunt for that one shirt or pair of jeans.

Seek out a wardrobe that offers diverse storage options.

Multiple compartments, adjustable shelves, and built-in drawers can make all the difference.

Such features allow you to tailor your wardrobe to your unique storage needs.

For small spaces, maximizing the usability of each square inch of your wardrobe is essential, ensuring a place for everything and everything in its place.

Select The Right Type And Style

Style and type are as critical as size and layout when choosing a wardrobe.

The ideal wardrobe doesn’t just store your items; it also complements your room’s aesthetics.

Consider the type and style that best aligns with your space and decor, whether modern, vintage, or eclectic.

Here are some popular types of wardrobes:

  • Free-Standing Wardrobes: These are the most common type of wardrobe. Their chief advantage is their versatility; they can be moved around your room or even to another room entirely. This makes them ideal for renters or those who regularly change their room layout. However, they can be bulky and might take up more space.
  • Built-In Wardrobes: These are tailored to fit your space, making them a fantastic option for optimizing storage in smaller rooms. They can be customized to meet your needs, whether extra hanging space, more drawers, or additional shelves. The downside is their permanence; they can’t be moved, and altering them after installation can be difficult and costly.
  • Walk-In Wardrobes: The ultimate luxury in wardrobe design, walk-in wardrobes provide ample storage space and often include various options for organizing clothing and accessories. They are ideal for those with extensive clothing, shoes, and accessories collections. However, they require a lot of space, making them less suitable for smaller living quarters.
  • Sliding Door Wardrobes: These wardrobes are designed with doors that slide horizontally, eliminating the need for extra space to open doors. This design is especially beneficial in small rooms where space is at a premium. The sliding doors also provide a sleek, modern look, making these wardrobes a stylish and practical choice.

Each wardrobe type serves a different purpose.

A sliding-door wardrobe might be your best bet if your room is tight on space.

A free-standing wardrobe might be your go-to if you’re all about flexibility.

With careful consideration of your room’s size and style, you’ll find the wardrobe type that not only fits your space but enhances it.

Opt For The Best Material

The material of your wardrobe significantly impacts its look, durability, and portability.

Wooden wardrobes exude a timeless charm, offering sturdiness but can be hefty and pricier.

Alternatively, metal and plastic wardrobes present a more cost-effective solution.

They balance style with practicality, with metal being durable and plastic being lightweight and generally cheaper.

However, remember to factor in the wardrobe’s location.

For moisture-prone areas, metal or plastic options trump wood.

Thus, when choosing, consider your specific needs, the decor of your room, and your budget to ensure the ideal fit for your compact space.

Conclusion

Venturing into the world of wardrobe selection isn’t just about picking a piece of furniture.

It’s a strategic balancing act between style, utility, and space optimization.

Let these guidelines steer your decision, leading you to that perfect wardrobe—your small space’s game-changer, injecting charm while optimizing storage.

Ready to revolutionize your compact living quarters?

 

Author Bio

Lila Bennett is a seasoned interior design enthusiast with a knack for optimizing small spaces. With years of experience in the field, Lila specializes in creating functional and stylish wardrobes for compact living areas. Her expertise lies in maximizing storage solutions, selecting space-saving furniture, and incorporating clever organizational systems. When she’s not designing, Lila enjoys practicing yoga, attending art exhibitions, and exploring local flea markets for unique decor finds.

Monochrome Majesty: How to Style a Grey Bathroom

Guest Post bt Hubert Dwight

You want your home to look and feel amazing.

After all, it’s where you spend the majority of your downtime.

That’s why it is worth putting some effort into your home design.

With some thought, care and attention, you can transform any room into a paradise in which you love to spend time.

Whether it’s your dining space, living room or bedroom – you want to feel at home, at ease and at peace. A, and interior design can achieve this with a few careful touches.

Bathroom interior design can sometimes get neglected, but this shouldn’t be the case.

There’s no reason your bathroom can’t look fantastic and have you feeling wonderful while bathing or getting ready for a night out.

In this helpful article, we’ll share all about monochrome majesty and how you can style a grey bathroom.

Read on to discover more.

Grey Tiles for a Neutral Palette

Opting for grey bathroom tiles will make sense if you’re going for a monochromatic, neutral feeling in your bathroom.

Grey is a surprisingly versatile colour, with lots of shades available.

Light grey can provide an impression of airy light and a delicate, soft feeling, whereas charcoal or dark grey can provide a more sombre yet gorgeous feeling.

If you’re doing a complete bathroom remodel, it’s worth spending some time to choose what shade of grey you want.

Visit some showrooms or browse online to get inspired.

Consider Wallpaper

While it is not traditionally used in modern bathrooms, some grey-toned wallpaper can add depth, texture and a gorgeous character to an otherwise bland bathroom.

You can opt for a bold, repeating pattern that can create the impression of space in a small bathroom.

If you don’t want a busy aesthetic, limit the wallpaper to a single wall, which you can then complement with paint or tiles on the other three walls.

Create Contrast with Versatile Colours

When using a neutral colour palette, such as grey, you can use accent colours in your other decoration choices to create a bold contrast.

This is particularly useful in a bathroom where you want to create a feeling of warmth and cleanliness.

One excellent way to achieve this contrast is to layer highlighting colours and pretty accessories that will uplift the overall palette.

For instance, having flashes of pink or deep reds, such as a toothbrush holder, plant pots or pieces of art on the wall, is a great choice.

Pair Grey with Natural Wood Tones

The cool grey shades pair excellently with a bathroom’s beauty, warmth and depth of natural timber.

Use wood tones to introduce textured layers, such as with panelled wood walls, a wooden cabinet, a wooden shower mat outside your shower or a timber tissue box on the vanity.

Go Bold with A Dark Grey Feature Wall

One way to make a strong statement in your bathroom is to paint a feature wall a dark charcoal grey or another dark grey tone.

This will create a bold impression and perfectly contrast with the lighter grey or other neutral tones in the room’s palette.

Other colours will appear striking and bright against this dark backdrop.

Bring a Splash of Green with Houseplants

Another excellent design choice for your bathroom is to offset the grey tones with splashes of green provided by house plants.

Some plants thrive in a damp, moist environment such as the bathroom.

Indoor ferns are a great choice, as are bromeliads, spider plants, mother-in-law’s tongue and Rhipsalis.

In addition to looking fabulous, the plants will scrub the air of impurities and generate oxygen in your bathroom.

Use Navy for Strong Contrasting Vibes

A deep, rich navy will spruce up a neutral grey colour scheme.

This will work perfectly if you’re going for a period home aesthetic.

can opt for a navy feature wall or paint some wood panels in a rich navy colour.

Use Mosaic Patterned Tiles

One awesome bathroom design hack for grey-toned rooms is to use grey mosaic tiles for the flooring.

These patterned tiles will look fantastic and provide depth and space to your bathroom.

You can flip this idea with plain grey tiles for your flooring and mosaic-tiled walls.

Use Your Towels to Contrast

Finally, another design hack you can use for grey bathrooms is to choose brightly coloured hand and body towels to introduce splashes of colour.

Rich reds, bright, vibrant yellows, oranges and even forest green can achieve this vibe.

Make sure you stock up on these, so while the used towels are in the wash, you can replace them with fresh, bright, clean ones.

A Grey Bathroom Summary

This helpful article has shared about monochrome majesty and how to style a grey bathroom.

Use this article for inspiration when planning your bathroom remodel or redesign, and prepare to be awed by your sleek new space.

Solar Power – Reasons for Low Output

For each kw of installed capacity of solar panels on average you can expect to generate 3.5kwhrs per day.

This can however vary considerably for a variety of reasons.

Monthly Variation

On a peak summer day you may be able to generate 6 or 7kw hrs per day.

In winter it can be quite different. typical reasons include:

  • Shorter Days – The panels may only get around 6 hours of sunlight.
  • Weather – For most of us winter means more clouds and rain which reduce the sunlight.
  • Less than Optimum Angle With the sun low in the sky you won’t have the panel fully facing the sun unless you can change the angle.

Partial Shading

One of the things that most people don’t realise is that solar panels are ‘team players’.

The power that each panel in a string(circuit) generates is limited by the performance of the worst performing panel in the string.

This means that if one 200w panel in a string of 6 is shaded by as little as 10% the loss can be 120w.

That’s 10% of the total string 6 x the 20w of the single panel)

To minimise this problem you need to ensure:

  • All obstructions are minimised. Even a TV aerial, or toilet vent pipe can make a difference.
  • If you have panels on different areas ( for example on each on a different roof) they should be on different ‘strings’ with separate inverter inputs.

Dirt

Any dirt on the panels will reduce the effectiveness so a regular clean will help retain efficiency.

It’s also worth thinking about keeping birds from perching on the top edge and crapping on the panels. (You can get some plastic spikes to fasten to the panels)

Heat

Typically panels are at their highest efficiency at a panel temperature of 25degees C.

In the middle of summer the panel temperature can be 80 degrees.

If you panel is mounted to allow better air movement around the panel this will help keep the temperature down,  and help efficiency.

 

See Solar Electricity for more posts

 

The Role of Preserved Flowers in Biophilic Design for Homes

Guest Post by John Guevara

Photo by Raul Petri on Unsplash

As we spend more time indoors, it’s becoming increasingly important to incorporate elements of nature in our homes.

Biophilic design, a design approach that integrates natural elements into the built environment, has been gaining popularity in recent years for its ability to improve our physical and mental well-being.

One simple way to bring the beauty of nature into your home is through the use of preserved flowers.

These long-lasting flowers offer all the benefits of live plants without maintenance, making them an excellent option for busy homeowners.

In this article, we’ll explore the role of preserved flowers in biophilic design for homes and provide tips on incorporating them into your home decor.

Bringing Home a Floral Aesthetic with Preserved Flowers

Biophilic homes are getting a lot of attention for all the right reasons.

It has beauty, nature, and all the goodness it brings. Preserved flowers offer a unique way to bring the beauty of nature into our homes, and they can play an essential role in biophilic design.

Unlike fresh flowers, preserved flowers have been treated with a unique solution that helps to maintain their shape, colour, and texture over time.

This means that they can last for months or even years, making them a great option for homeowners who want to enjoy the benefits of biophilic design without the hassle of maintaining living plants.

Benefits of Using Preserved Flowers in Biophilic Designs

Using preserved flowers comes with many benefits too.

One of the main benefits of using preserved flowers in home design is their ability to create a calming and relaxing atmosphere.

Research has shown that exposure to natural elements such as plants and flowers can help reduce stress and improve our overall sense of well-being.

Incorporating preserved flowers into a biophilic design is a simple and effective way to bring natural elements into our homes.

There are various ways to incorporate preserved flowers into the biophilic design, depending on the homeowner’s style and the space’s specific needs.

 

One approach is to create a centrepiece using a vase of preserved flowers.

This can be a beautiful addition to a dining table, coffee table, or any other space in the home.

The colours and textures of the preserved flowers can be chosen to complement the existing decor and bring a touch of nature into the space.

 

Another way to incorporate preserved flowers into the biophilic design is to create a wall installation.

This can be done by arranging preserved flowers in a frame or using a pre-made wall panel.

The result is a stunning piece of art that can add colour and texture to any room.

 

If you are fond of smaller pieces, a small vase of preserved flowers in a vase next to the bedside table can help create a sense of calm and bring a bit of nature into your daily life.

Final Words

When incorporating preserved flowers into the biophilic design, choosing high-quality preserved flowers that will last for a long time is important.

Consider only the best Sydney florist when selecting your flowers.

With a little bit of creativity and attention to detail, preserved flowers can play an important role in creating a biophilic home design that is both beautiful and functional.

Building On Clay Soils

Clay is a fairly common soil type.

Although it is quite suitable for building one issue is that some types of clays (‘Reactive’ or ‘Desicated’ clay) that shrink or swell depending on the level of moisture.

This can lead to the following problems:

Subsidence

Subsidence or settlement is when the building foundation drops, caused by the loss of support of the site beneath the foundations.

This is usually caused by shrinkage of the clay due to it becoming drier.

Typically this is due to tree roots spreading under the building and taking the moisture out of the clay.

Prolonged drought can also cause soil shrinkage beneath a building.

Soil Heave

Heave is the expansion of the ground beneath part or all of the building.

Expansion pushes the foundations, and thus the building upwards.

This is a photo of a boundary wall with inadequate foundations.

Due to soil heave the right side of the wall has lifted by over 100mm causing cracking of the mortar joints, and a brick.

Although the mortar joints have recently been repointed you can see they are no longer straight.

The most common cause of soil heave is building is when the clay becomes wetter and starts to expand.

Common reasons for the clay to become wetter are:

  • Water seeping down the side of the house (In areas of reactive soil a normal requirement is to have a 1m wide footpath round the house)
  • Poor site drainage (No drainage, blocked drains, or leaking water pipes)
  • Removal of trees (This means the drying effect of the roots has been removed)

A couple of danger signs of future soil heave issues for a new house build are:

  1. If building after several years of drought the soil may be excessively dry and therefore more likely to become wetter when the drought breaks.
  2. Removal of trees immediately before building.

Summary

There is no reason why you shouldn’t build on clay soils but you need to ensure that;

  • You have chosen an appropriate construction method (Brick Veneer is usually better than double brick)
  • There will be minimal soil moisture change when the house is built. (see this link:  Protecting Your Slab)
  • If you need concrete piers see the following link: Building on Fill.

To find out more about the soil on your block click on this link: Soil Classification

 

 Lots more information in the anewhouse at this link: Guide to Buying a Block

To find out what soil is on your block see this link: Site Investigation

 

7 Ways To Make Your Home Loan Work For You

Guest Post by Hubert Dwight

Homeownership is a dream for many Aussies and families.

Obtaining a home loan is often a critical step in making that dream a reality.

However, simply securing one of the many home loans on offer is not enough.

It’s important to make your home loan work for you in order to maximise its benefits and minimise the associated costs.

If you are looking to get the most out of a new or existing home loan, look no further. Here are 7 ways to make your home loan work for you.

Shop Around For The Best Deal

If you have yet to decide on a home loan, it is always a good idea to spend some time shopping around.

This is because interest rates and loan terms can vary significantly among different lenders, and comparing offers from multiple lenders will help you ensure you’re getting the best possible deal.

Additionally, different lenders may offer special loan programs or incentives, such as first-time homebuyer programs, low down payment options, or other benefits.

By shopping around, you can explore these offerings and potentially find a lender that provides additional advantages that can save you money or make the home-buying process more affordable.

When in doubt, shop around!

Choose Your Loan Type Wisely

When it comes to choosing the right type of loan that works for you, be sure to proceed with caution.

There are several types of home loans available, including fixed-rate loans, variable-rate loans, and government-backed loans.investopedia.com/…s/07/fixed-variable.asp

Each type of loan comes with its own set of pros and cons, so it’s essential to carefully consider your financial situation and long-term goals to select the right loan type that suits your needs.

For example, if you plan to stay in your home for a long time, a fixed-rate loan may be more suitable, as it offers stable monthly payments, whereas an adjustable-rate loan may be better if you plan to sell or refinance your home in the near future.

Maintain A Good Credit Score 

When it comes to making your home loan work for you, your credit score plays an important role in determining your interest rate and loan eligibility.

Lenders use credit scores, which are numerical representations of an individual’s creditworthiness, to assess the risk associated with lending money.

A higher credit score indicates a lower risk borrower, while a lower credit score suggests a higher risk borrower.

With this in mind, borrowers should always aim to maintain a good credit score by paying your bills on time, keeping your credit card balances low, and avoiding unnecessary credit inquiries.

Be Discerning With Your Home Equity 

Have you heard of home equity?

As you pay down your home loan, you build equity in your home, aka the difference between the market value of your home and the remaining balance on your loan.

Many people choose to use their home equity to their advantage by tapping into it for various purposes, such as home improvements, education expenses, or even debt consolidation.

However, it’s essential to use your home equity wisely and consider the long-term implications, as borrowing against your home equity can increase your debt and potentially put your home at risk if you’re unable to repay the borrowed amount.

If you are considering using your home equity, be sure to seek advice from a professional mortgage broker or financial advisor to ensure that you are setting yourself up for success, rather than failure.

Refinance To Take Advantage Of Lower Interest Rates 

It is no secret that interest rates can fluctuate over time, and if you notice that rates have dropped significantly since you obtained your home loan, it may be worth considering refinancing.

Home loan refinancing involves taking out a new loan to pay off your existing loan, and it can potentially lower your monthly payments and save you money on interest costs.

However, refinancing also comes with costs, such as closing fees, so it’s important to carefully evaluate the overall savings before deciding to refinance.

Before considering a home loan refinance, assess your current financial situation — review your credit score, income, expenses, and overall financial goals to determine if refinancing is a viable option for you.

Create A Realistic Budget 

If you’re looking to really make your home loan work for you, you simply cannot go wrong with realistic budgeting.

It’s important to remember that your home loan requires monthly payments, including principal, interest, taxes, and insurance.

Budgeting helps you plan for these payments and ensures that you have the necessary funds available each month to make your mortgage payments on time, avoiding potential late fees or penalties.

Create a budget that includes your monthly mortgage payments along with other housing-related expenses, such as property taxes, insurance, and maintenance costs.

Stick to your budget to ensure that you can comfortably afford your mortgage payments without compromising your other financial goals.

Seek Professional Advice

Last but not least, it’s certainly no secret that home loans can be complex, and it’s not always easy for the average person to understand all the intricacies and implications.

When in doubt, always seek professional advice from qualified financial advisors or mortgage brokers.

With years of experience under their belts, these professionals can help you understand the terms and conditions of your loan, evaluate or reevaluate refinancing options, and provide guidance on how to make your home loan work for you in the most beneficial way.

______________

And there you have it — 7 simple yet effective ways to make your home loan work for you, and not the other way round.

At the end of the day, a home loan is a significant financial commitment, and it’s essential to make it work for you in the best possible way.

If you have any questions, do not hesitate to leave them in the comments section below!

Roof Space – Access

One of the things that frequently gets forgotten is the hatch that gives access to the roof space.

Location

A usual location is in acorridor close to the secondary bedrooms.

It doesn’t seem that important but when you need the heating serviced, electrical alterations, plumbing alterations, etc, you are going to get tradies coming through the house.

Alternative Locations

When they have gone I often find dirty fingerprints on the hatch. . . which means I then need to get a ladder to clean the hatch.

It’s worth thinking about where you put this hatch.

If you have a single storey house the garage is probably the most convenient location followed by the laundry.

If you have got a 2 storey house an unobtrusive location may be a bit harder to find. . . . but make sure you think about it otherwise Sod’s Law says it will finish up in the worst spot.

Type and Size

If you are the sort of person who can’t throw anything away you might want some extra space for storage.

In that case perhaps you should think about a larger hatch fitted with a ladder. (The ladder in the photo is a product of the ATTIC Group which is going to cost over $1,000)

Finally

Don’t put anything heavy in the attic as the roof trusses aren’t designed for heavy loads.

 

For similar posts see Selection

 

The Role of Marketing in Increasing the Value of Your Home Improvement Projects 

Guest Post By Arnold Rogers

Photo by Tima Miroshnichenko @ www.pexels.com

The key is to use some simple marketing principles to choose which home improvement projects to undertake, and how to sell these features to prospective buyers.

One great way to do that is with digital marketing, including ads.

This page has everything you need to know, whether you are selling your improved home or selling home improvement products to homeowners.

1. Understand The Market

Owning a home is a personal thing.

When it comes to selling a house, you need to understand what people are looking for.

Although you might love stained glass windows, if they turn off potential buyers, they can lower the value of your home.

To understand the market better, take a look at local real estate listings – especially those in your suburb or neighborhood.

Which listings sell quickly? . . . . Which stays up for years without selling?

What you’ll discover is that some homes fit an average person’s needs better than others.

The more your home suits the needs of the people who are shopping for houses in your area, the quicker it will sell and the higher you can price it.

What kind of home improvement projects are people looking for in your area?

What kind of home improvements or features do you see in listings that sell quickly?

2. Turn Your Home Into a Brand

If you understand what people like most about your home, you can build an identity around it.

For example, a house with a beautiful backyard, swimming pool, and games room is likely to attract a family that loves play and the outdoors.

A minimalistic house in an artsy style might be more attractive to couples without children, or art lovers.

Imagine the kind of person who looks at your house and says “it’s what I’ve always wanted.” This is the person you should try to appeal to.

When deciding on home improvements, ask yourself if it fits with your home’s brand.

Installing a basketball court might be a good decision for a family fun house, but a poor one for a minimalist artsy villa.

Likewise, adding a wine cellar might increase the value of a small upscale home, but might not be a selling point for families.

3. Use Visuals

When it’s time to sell your home, visuals express more than words can.

The improvements you make to your home won’t increase its value unless you can show potential buyers what they look like.

Professional photography and videography can make a big difference.

However, you don’t necessarily need a big budget to use visuals effectively in your listings, especially if you have a good eye for photos.

All you need is a basic camera or even a decent smartphone.

Ensure that all photos are clear and bright, and that video isn’t too shaky or noisy.

Ask other people for feedback on which photos look best in the listing.

4. Fix What’s Broken

Renovating parts of your home that are functional is usually a bad investment.

It might create a better living space, but the cost will outweigh the increase in value.

Instead, focus on renovating or improving the weak points in your home – the areas that turn off potential buyers.

Unfinished areas, exposed insulation or wiring, or stained or damaged areas are prime candidates for renovations.

If you restore these areas, you get a double benefit. You eliminate a drawback and add a benefit.

This can also help you avoid a critical mistake that many home renovators make: pricing themselves out of the market.

If you spend so much on renovating your home that you need to raise the sale price above what most people are willing to pay, you may end up waiting longer to sell or lowering the price and losing money.

5. Use Multiple Marketing Channels

These days, buyers are more discerning than ever and they often need more than a couple of “nudges” to take action on a great deal.

You can reach more potential buyers and give out more “nudges” by being on multiple platforms.

Use every form of marketing at your disposal to sell your home, from social media and word of mouth to real estate listing sites and brokers.

Smart marketers never rely on just one source of traffic.

Tell everyone you know that you’re selling your home, and if some time passes – remind them!

Don’t be afraid to pick up the phone or send an email to someone you think might be interested, especially if you know they are in the market and they appreciate the kind of renovations you have done.

Make Money Improving Your Home

You can undertake home renovations and pass most of the costs along to the next buyer – but only if you know how to market your home effectively.

Following some simple marketing principles can put you ahead of 80% of other sellers on the market.

    • Renovate your home to fit what buyers are looking for
    • Understand your home’s “brand” and selling points
    • Use good photos and videos that illustrate your home’s renovations
    • Renovate your home’s weak points – don’t spend too much improving what already works
    • Use social media, word of mouth, and every platform possible to spread the word

With these tips and the help of digital marketing professionals and realtors, you can leverage home renovations to sell your house faster, and at a higher price.

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