When it comes to kitchen renovations Gold Coast investors need to beware of emotional spending and carefully consider whether the outlay for improving the property will generate a satisfactory return on investment.
Given the popularity of renovating shows like Channel 10’s new program ‘The Living Room’, it’s easy to see how people can get caught up in the thrill of making home improvements. The end results may look dazzling, but how much value do these makeovers really add? When considering kitchen renovations Gold Coast property owners should not make the mistake of assuming that buyers or tenants are actually prepared to pay a higher price for them.
While many of the properties featured on TV shows end up spending megabucks on their kitchen renovations Gold Coast renovators can take a much more savvy approach. Experts suggest that for every dollar spent, the improvements made should at least generate an additional two dollars return. With the latest HIA Kitchens and Bathrooms report for 2011/12 quoting an average cost of $19,000 for kitchen renovations Gold Coast investors would therefore need to see a return of at least $38,000 for capital expended on this aspect of the property. In a slumped property market, with both house sale prices and rental rates falling, this may not be so easy to achieve.
Affordable Kitchen Renovations Gold Coast Investors Can Bank On
For more profitable makeovers, investors can turn to kitchen resurfacing as a very cost-effective option for adding value to a rental property or an investment property they are wishing to sell. Whereas demolition and removal of existing fittings are the norm for traditional kitchen renovations Gold Coast business Renew Kitchen and Bathroom Resurfacing offers a smarter alternative through the professional application of a hardwearing, high-tech coating to existing benchtops, splashbacks and cabinets. The result is a sparkling kitchen that looks like new yet costs significantly less.
Although resurfacing has typically been a less familiar alternative in the arena of kitchen renovations Gold Coast real estate agents are starting to catch on to the benefits of this option for investors and homeowners who want to sell their property or attract a higher rental return. Steven Hayes, author of “How to Quickly and Easily Sell Your Home for Top Dollar” and real estate agent at Nerang First National, was quick to see the benefits of resurfacing for home sellers. When a recent investment property seller was in need of economical kitchen renovations Gold Coast buyers would find desirable, he suggested that the client try resurfacing as an alternative.
Instead of the tens of thousands this client would need to spend on traditional kitchen renovations Gold Coast resurfacing technicians were able to accomplish a fabulous makeover for less than $2,500! Old-fashioned yellow benchtops were resurfaced in a gleaming black stonefleck finish, while the ghastly tiles and dark brown cabinetry were ousted in favour of new white doors and resurfaced splashbacks. This affordable transformation has created a much more attractive space for potential buyers – a result that both owner and agent were delighted with.
For investors seeking cost-effective kitchen renovations Gold Coast business Renew Kitchen and Bathroom Resurfacing is happy to provide a free design consultation and quote on investment properties in the Gold Coast and Brisbane areas.