To Reno or Not to Reno? Appreciate your feedback

[Guest]

We bought our house 16 years ago, and apart from the garden, re-roofing and some painting, have done very little to it (it didn't really need it). But it is a bit tired now (main extenstion including kitchen and bathrooms) was done in the early 1990's.

We are a couple of years away from retiring, and will be building a new luxury home down on the coast. I can pour my frustrated designer passions into that!

So do I let go of all the Reno dreams I've had for this current house and just sell up in a couple more years as it is, letting the next owners transform it?

Or do I spend $100 - $150K and bring it up to date, get to see my dreams come true and live in it for a couple of years, and hope I get not only my money back when we sell, but a bit more?

There is no crystal ball to know what the market will do, but for all of you who have the experience of renovating, what would you do?

Avoid the pain or embrace the dreams? We've never renovated or built before.

Appreciate your feedback.

[Jade]

All I would do is a fresh paint throughout & some new floor coverings... (perhaps change some door knobs/handles if they're tired).

Cosmetic makeovers are budget friendly & have the most impact!.

This in return will add value for re-sale & help you enjoy it for the next few years.

[Angela]

Given how difficult it is at the moment to get products and trades I wld sit on it. Unless you have trades in the family that is and can do some items cheaper?

[Bec]

In these current times I'd only be undertaking renos if I needed too. If you have time on your side, you could wait and see what happens with trades and supplies.

[Michelle]

Do you have an IKEA near you? If you do put in an IKEA kitchen. We spent under 8k for ours. Another option is try getting a 2nd hand kitchen on fb marketplace. I saw a really awesome one once for 4k

[Elsie]

I've renovated houses for many years and enjoy the process. But since covid that feeling is no longer there.

Difficulty getting trades, huge quotes, delayed starts. It's crazy.

I think you really want to put your ideas and love into this home before selling but in my opinion, just paint and tidy up small jobs, maybe like new handles and staging.

Save your energy, creative ideas and cash for your new life and home.

Good luck.

[Stephanie]

I would do a tidy up and spend minimum to update things. Depending on what’s needed eg. New doors on kitchen cupboards, if it’s a floor vanity replaced with wall hung etc. Spending $100-$150k is way too much if you are going to move out in 2 years. Personally I prefer to buy a house unrenovated as I can renovate according to my taste. I once ripped out a newish kitchen as the shelves were not adjustable, cupboard space unusable. The kitchen looked nice but not practical at all.

[Mwasi]

Renovating can be incredibly stressful and time consuming. If your the kind of person who would enjoy learning and appreciate the journey despite the pain then do it. Otherwise just do some cosmetic updates before you sell. I’m still struggling though my reno but would probably do it again as I’m kind of addicted now.

[Clare]

Get a realtor to come and have a look and see what worth doing? You may be surprised how much you could get if you just leave it and update before sale with updated accessories and furniture.

Otherwise new coat of paint can do wonders on its own.

Good luck

[Leonie]

When you go to sell chances are that you will have to at least cosmetically renovate your existing house. The agent will say, change the bench top & splash back, repaint, new flooring etc. so you may as well enjoy it. Buyers are time poor and by the time they purchase a house they don't have funds so they would prefer to purchase something with little work to be done. Ask for recommendations of trades and budget to either stay in air bnbs or go on mini breaks while you are without the essentials (showers, kitchen etc). Renovating is hard work but if it wasn't, everyone would do it.