Cosmetic Renovations are the fastest, most cost-effective renovations that you can do even if you haven’t had much experience!
I am going to discuss what a cosmetic renovation is, what you need to know about cosmetic renovations and… how to do them properly!!
Fist up…What is a cosmetic renovation?
The use of the word cosmetic when used in the renovation industry is very similar to how it is used in the beauty industry!
Simply put… it is surface work only… NO SURGERY!!
Usual works that you would likely do in a cosmetic renovation are; painting (inside and out), flooring, tile spraying, cleaning (don’t underestimate the power of bleach), re surfacing, new blinds and swapping light fixtures. Staging also goes a long way with a cosmetic renovation (food for thought). Landscaping and what I call curb appeal, is definitely in the category of cosmetic renovations too.
Be aware here that you are looking for a “bang for buck theory”… spend where you can see it and where it is currently under preforming! Also, be aware that your works list should have been created prior to your renovation and it should have been based on your purpose for your renovation and the budget that this information dictates.
About Cosmetic Renovations
Cosmetic renovations are typically quick and inexpensive. They are used more as a rejuvenation rather than a renovation as such. Typically, they cost $30,000 or less right down to $5,000 but done right, should return around double or more of what has been invested. Done well and to the right property, for the right, reason is the key here! I have done works for $30,000 that have returned the owners $75,000. Although, the answer to how much work to do and where to do it will be area specific and property specific. This will be determined by knowing your area and what like properties are selling for in your area once renovated.
What you need to consider when doing a cosmetic Renovation
You need to be creative… quite often, these renovations will lend themselves to a fair amount of DIY should you choose to get handy! For those of you who have followed me for a while on Face book at Perth Renovation Projex, you would know my thoughts on being honest about the time and ability you either do, or don’t have to DIY, so get that straight now! Things like roller lawn, plants, letter boxes, paint, and demolition in cosmetic renovations, are worth doing yourself and saving on your budget. When it comes to spraying tiles or resurfacing kitchens, electricians or even staging, this is where you can spend the money allocated and spend it on a professional.
As much as it should be low in cost…WARNING… DON’T BE TOO TIGHT!
Just because these renovations are usually on the cheap side does not mean you can get away with cheap workmanship and finishes… There is nothing more annoying than seeing office carpet in bedrooms in a residential home… like seriously… it is not acceptable! It looks cheap, it looks bad and it is not inviting. The upgrade to a normal carpet is not much more expensive and will return you financially… Just because a bedroom has carpet, does not guarantee your financial return! If your budget doesn’t allow for carpet then DON’T PUT IT IN! People can use rugs or carpet after they purchase! People pay for the property to be visually appealing and demonstrate clever attention to detail!
Think about it…
Just be reasonable and understanding of your potential buyer or tenant!
WHO IS BUYING OR RENTING THIS PROPERTY?
I always go on about this as it is literally one of THE most important things to consider when doing a renovation! Think about this answer on every decision you make and you will have more chance of a return on your investment! Whilst this is more related to a major renovation it is worth using the bath as an example…If it’s a family home that is a 3 x 1, make sure the bathroom has a bath and if you can’t comfortably fit a bath, then be clever with the shower and give it a hub so they can have a roman shower. Even make it bigger than 900 x 900 so they can fit two kids in there… if you have removed an old bath, then you should have the space if your design is right!
COLOUR CHOICE WILL BE KEY!
When it comes to paint colours… just because you like pink… DON’T DO IT! Just because you like black… DON’T DO IT!! Can you use pink pillows or candles? Sure! Can you use black furniture to stage or Black art? Sure! Unless you are good at design and how to work colours with light and space… stay neutral and dress it up with colour! Note, when I say neutral, DON’T BE BORING!! Being boring and bland will do as much harm as being too heavy handed with your colours. If you are not sure, keep playing with colour boards until you are ready… you will know because you will get excited and so will others you show it to.
Main takeaways to remember:
1) Low in cost but NOT CHEAP!
2) Set and adhere to your budget!
3) Spend only where your buyer or tenant can see it!
4) Be creative to make the budget go further!
5) Know your reason and goal First!
6) Stick to the plan Stan!
7) Know your buyer and market value!
8) Research Research Research!
9) Your work will reflect your results!!
I am so excited for you to do your Cosmetic Renovation. If this is all a little over whelming and you have been over to Perth Renovation Projex…
and studied the 5 day mini course and still don’t feel confident to execute your renovation. Then book a call to discuss your options for us to work together. Perth Renovation Projex can handle your whole renovation OR, I can consult you through your renovation and you can still complete your renovation by yourself and learn to reno like a pro!