Renovating can add value to your property, but experts warn against costly missteps. Ray White Annandale agent Tina O’Connor cites an example of a homeowner who spent $30,000 on a kitchen renovation that didn’t boost the sale price, proving that even big-budget upgrades can be ineffective if unnecessary. Poorly executed DIY work or hiring unqualified tradespeople can also hurt a home’s appeal, with sloppy finishes deterring buyers.
Instead, focus on budget-friendly updates like changing light fixtures, refreshing cabinetry, and enhancing landscaping. Vault Interiors’ Justine Wilson recommends high-impact improvements, such as repainting kitchen cabinets or adding new handles, to achieve maximum impact at minimal cost.
For areas to splurge, experts agree that maintaining the home’s structural integrity is essential. Investing in quality renovations for kitchens and bathrooms, along with professional painting, can also deliver strong returns. However, in some cases, selling a property as a “blank canvas” may be more practical, particularly if the required updates outweigh the potential value increase.