The Interiors Addict: Where Renovation Spending Returns Value

Greville Pabst spoke with The Interiors Addict about renovating for value, in an article built around the WBP Renovator's Guide to Property.

The discussion covers how to decide where renovation money should go, beginning with the principle that every property needs to be assessed individually on its location, style and size.

Greville explains the importance of understanding the target buyer and the characteristics of the suburb, noting that people living in outer suburbs prioritise different features from those in higher density inner city areas.

He identifies the improvements that reliably add value, among them additional bedrooms, bathrooms and a modern kitchen, and cautions against overcapitalising by spending more than the work returns.

Landscaping and the addition of a garage are also discussed, with the potential to contribute up to $100,000 in value.

The article closes with the steps Greville recommends before any work begins, engaging an architect for guidance, obtaining quotes from builders, and seeking independent property advice to establish market value before and after the proposed renovation.

Read the full article.