Renovation revolution
Staying put could be your best move in a sluggish property market. Here’s a guide to taking on that nagging renovation project.
With the local housing market in something of a slow period, more people are choosing to stay put and channel their efforts into renovation rather than selling up. There are two main reasons for this. First, if the sluggish market has driven the decision to stick with your current house for a few more years, then installing a new kitchen or bathroom, getting new carpets, building a garden office, or other renovation, makes your home somewhere you love living in even more. Second, an intelligent renovation means you’re likely to get added resale value for your property when the market does move again. And it will. Given these factors, now could be the perfect time to consider renovating instead of selling. The big questions are, what do you do and how much do you spend?
High-impact renovations
- Kitchens and bathrooms: These are the big hitters of home renovation. Often costly and bringing the most upheaval, but also the most exciting, most transformative and likely to add the most value if or when you do sell up.
- Adding rooms: Converting unused spaces (garages, large hallways, lofts) into an extra bedroom, study, or bathroom (especially an ensuite), or building a home office in the garden, are all efforts that can significantly boost value and buyer pool.
- Outdoor living: Easy and elegant indoor-outdoor living is the dream. Consider enclosing a patio with decking and a barbecue, or adding sliding doors, to create versatile, year-round space.
Curb appeal and first impressions
- Paint: Fresh interior and exterior paint provide a major facelift, instantly modernising a home, and boosting buyer perception.
- Landscaping: Clear weeds, trim hedges, and add fruit trees, replace old guttering, repair pathways, and refresh the garage door.
- Entryway: A freshly painted front door and new hardware make a great first impression as do entry focal points like bold colour on the door or modern house numbers.
Comfort and efficiency
- Insulation: Upgrading insulation makes a home more comfortable and energy-efficient, a major draw for modern buyers.
- Fixtures: New light fittings, tapware, and modern light switches offer great impact for minimal cost.
Smart budget moves
- Declutter and clean up: So simple yet so effective. Make it your mission to gather and get rid of junk inside and out. All the things gathering dust in the garage or loft, the piles of old bricks, tiles, old paint pots, and wood lying about in the backyard, old trampolines and swing sets – if you do nothing else, a thorough clean-up will transform your property. Give away unused items that are taking up space on Facebook marketplace. Get your old paint tins to Resene’s takeback scheme, called Paintwise, or to one of the city’s EcoShop Resource Recovery Centres. For comprehensive clear-outs, your local EcoShop will come and collect your old items, get in touch at ecocentral.co.nz/contact.
- Cosmetic facelifts: Focus on new handles, modern finishes, paint, and clean carpets rather than full replacements in kitchens or bathrooms for cost savings.
Kitchen makeovers: Instead of pulling out your whole kitchen, or bathroom, give it a professional overhaul. Update your space by having cabinets and benchtops (laminate, wood, stone) refinished with durable, food-safe coatings, offering a new look and extended life for a fraction of a full remodel. - Curtains and carpets: Getting new flooring throughout and updating all curtains and blinds will massively update and transform a home.
Take it outside: Consider the details like getting broken pavers replaced, buy a stylish new mailbox, add porch décor like symmetrical planters, paint the fence, or add gravel/stone pathways.
Traps for young players
- Check local rules: See if your project needs building consent. A good starting place is the Christchurch City Council website: ccc.govt.nz/consents-and-licences/building-consents/before-you-build/building-and-renovation-projects
- Avoid overcapitalising: It’s easy to fall into this trap. If you sink $100,000 into a big renovation, that’s fine if you’re planning to stay put another 20 years but will you get that back if you sell in five years? Ensure your investment aligns with your local market, your future plans for selling, and comparable sales in your area.
- Live in the space first: Just bought? If possible, live in your home for a year to understand its quirks and needs before making drastic changes.
