Home renovation guide for 2021 - Family Homes Vs Investment properties

Are you looking at adding comfort and convenience to your home? Or renovating for an investment property?

Intention or motive is a key factor when planning your home renovation.  It will determine your budget, the type of suppliers, raw materials, design and time-frame of your renovation. When you are renovating with the intention of renting it out or selling then your budget can be more limited as you do not have to make the house luxurious.

As long as it is functional and aesthetically pleasing with everything working well then you can look at getting more medium range supplies. However, if you are going to be living in the house then you might want to splurge more on design and luxury along with making it more functional.

In this article we will discuss the following:

We will discuss there broad intentions for renovating a home in Auckland. This guide will provide a comprehensive guide for planning your renovation based on 3 broad categories. It will talk about budget, types of materials that we recommend for the three types of renovations based on your intention to renovate in Auckland.

1. Renovations for when you want to rent your house in Auckland
   
2. When you want to add value to your home to sell in Future
   
3. Home Renovations for a family home - to increase functionality and comfort
   

1. Intention of renting your property

When you are renting your property your two aims should be aesthetics and functionality. When it comes to aesthetics you want to renovate your kitchen and bathroom with a medium range budget. Tenants are looking for a place which is modern and with minimal wear and tear. They also look for homes that are functional so they face the least amount of inconvenience.

Kitchen is one of those places that should always look and feel clean and hygienic. Old Auckland kitchens usually have a dated look about them which make them look aesthetically unappealing. No matter how any times you clean them they always appear slightly worn out and yellow. Hence, giving your kitchen a makeover greatly increases its chances of being rented at a good price. An easy way to renovate old kitchens is to replace the flooring, counter tops and work benches.

You can use mid-range materials for counter tops which will look nice and are durable but will not break your bank. Materials such as laminate, Engineered stone and glass counter-tops could be a great option for the kitchen if you are looking at renting the house out. They look great and will instantly make the home look much more appealing to the tenants. Laminate flooring is also a good option for such kitchens as they look great, are good for the budget and are durable.

' If you are looking at renovating an investment property then read our recent article on 10 ways to increase rental yield through renovations and upgrades '

If your bathroom is looking grimy then it is best to get it renovated before renting it out. An average bathroom renovation costs about 15K if you are replacing the shower, toilet, adding a vanity and replacing the floors. You can use Vinyl floors or simple tiles for the bathroom at a very reasonable cost. Basic showers and toilets can also be found at a reasonable price. If you are not changing the pluming around then bathroom renovation costs can be done at a very minimal cost.

One of the tricks for getting most out of your rental property is to make larger rooms into two different rooms. If you have a two bedroom home then it would be rented for about $550 on an average in most Auckland suburbs. But if your lounge is very spacious, you could erect a wall making a small study out of the lounge. This would give you a third bedroom or study. This would effectively let you increase the rent of your place. The added wall would cost you as much and is almost always possible because there is no structural change if the wall is added inside the house.

' Our clients renovated their investment property which was an old house in Hillsborough so they could get more rental return, hence increasing their return on investment. See their case study here '

If your home has started looking worn down then a good paint job throughout the house can also prove to be a good investment. The important thing is getting it done by a professional. A good paint job will make all the difference to your home and overall aesthetics of your rental property.

2. Intention of reselling or adding value to your property

If you are thinking of selling your house in the future then you should renovate with the intention of adding value to your home. Adding value does not mean that you have to spend a lot of money to ‘add value’. The perceived value of your home is the buyer’s perception of your home.

They want the foundation and structure of your home to be sound as they do not want to buy something that they will have to put more money into ‘fixing up’. Some of the key elements of the house like kitchen, and bathroom also need to be in good condition so that they do not have to spend money in maintenance like fixing leakages etc or even renovating.

When trying to sell your home you want to make sure that your bathroom has no plumbing issues, leakage or damage. That is the first thing that you should fix. You do not have to install the latest fixtures or accessories if your present toilet and shower are still in good shape. If they are however dated then it would be a good idea to pull the old bathtub out and install a new shower. The idea is to make the buyer have a higher perceived value of the home.

The kitchen is another aspect of the house that should be looked into before selling your home. If your kitchen is very outdated and has started to look shabby then a change is in order. Change the flooring and pull down the old cabinets to give your kitchen a fresh new look. There is no need for customisation; simply use the most basic cabinets and counter-tops to make it look modern.

' Todd Chandler - He renovated his home to add value by renovating old leaky bathrooms, getting his decks consented and painting the interiors. This ensured that he could add enough value to the home to get a return on investment. See his full case study here. '

Stay away from themes

When selling your home it is good to stay away from modelling your rooms after certain themes. This might actually become detrimental to the sales process as your personal themes might not appeal to the buyer. If you are going for classic themes then it would be okay as classic timeless themes do appeal to most people. We would however not recommend renovating your home keeping a theme in mind as the return on investment for a project like that would not be great.

Adding a fresh coat of paint to the exterior and interior of your home can also add considerable value to your home in the minds of the buyers. Again, we would advise you to paint in neutral colours as opposed to bold colours. Buyers will be willing to buy a house at a higher price if the house is well painted and looks striking.

Add a deck to the house to instantly increase the value of your home. If you do not have a deck but do have the space on the outside of your home then we would recommend you to add a deck. The return on investment for building a deck is exponential as buyers would pay much higher for a home which provides them outdoor living.

3. Intention of giving your Family home to add comfort

When it comes to doing your own home renovation, then the options are unlimited. You can renovate your home based on your priority and needs of your family. If modernising your home is a priority then kitchen and bathroom would be the first few things to consider renovating. If you want a stylish makeover then you have plenty of options based on your budget, trends and personal preference for your home renovation.

" Full Kitchen transformation for an old house in Blockhouse Bay to make it an open plan living space for the family. See full case study here '

If you want more functionality then consider changing the interior of your cabinets to the current shelf storage system trend. These cabinets have custom built shelves in cabinets for different types of appliances. This saves space and adds functionality to your kitchen. There are also numerous styles and designs available for designer kitchens if you want to add a touch of luxury to your home. Most renovation companies have an in-house designer that can help you with the design process and source supplies to complement the style of kitchen you are after.

' Lynette and Henry renovated their Bucklands Beach Kitchen to add an artistic flair and to make it more functional for their style of living. See their full case study here '

You could renovate your bathroom based on the needs of your family. If you are a growing family then you could convert your en-suite into a separate bathroom and toilet. Or you could convert the bathroom and toilet to make a luxurious en-suite. This type of renovation will really depend on your budget and your needs.

You could add or pull down walls to either add rooms or make your current rooms more spacious depending on what you want out of your house renovation.

When doing your own home renovation, you should first ask yourself what you want and how much are you willing to spend. When you have a limited budget then drawing up a priority list is a must. If you have any problem areas like leakage then it is best to tackle that first as opposed to giving your home a makeover. If next on your list is the kitchen due to limited functionality then the best way to go forward would be to increase functionality rather than getting a makeover in terms of design.

' Amber and Craig from Hillsborough renovated their entire house to be able to make it a more comfortable family home. See their journey here. '

When doing your home renovation we recommend using premium materials and supplies even if it means doing your renovation in stages. For example use granite or marble or solid wood for your kitchen counter-tops rather than laminate as you want to be able to enjoy the luxury of your home.

' Guru and Neeta's full kitchen renovation in Massey to add luxury,comfort, convenience and an entertainment space. See full case study here '