My local real estate agent, Jim, referred me to my latest project management client. The vendor Jeff had just accepted a new job in Sydney and had to relocate in 2 weeks.

Jeff’s problem – he needed to sell his home and he needed to sell it fast! Jeff’s biggest problem – his 1970’s house was still in its original condition and he didn’t have time to get it ready for market.

So I met with Jeff and told him how Houses to Impress could take care of his whole house renovation for him, eliminate the stress and leave him free to concentrate on the big move.   I assessed the property while I was there and gave Jeff my expert opinion on what needed to be done to bring his 1970’s home into the 21st century so we could attract some serious buyers in this very tough market.

Jeff was willing to invest some money in some home improvements as he hadn’t done any upgrades since he moved into the house in 1983. He was well aware that it would be very difficult to sell the house in its present condition, in the current slow market.  Jim, the real estate agent, appraised the house “as is” at $280,000 – $300,000. I did a quick calculation on the upgrades that were required and estimated that to fully renovate and style the house for sale would cost about $20,000 – $25,000. Jeff was prepared to spend that amount to ensure he could sell his home fast and for a higher price. I discussed my planned renovation ideas with Jim, the agent, and after doing some comparisons for the area we both agreed that the market price “after reno” would sit in the range of $330,000 to $350,000.

Jeff was happy with these estimated figures and gave me the go ahead to project manage the cosmetic renovation. I immediately got to work with a plan that would enable me to get the whole job done in 30 days.

Step 1 – Renovation Plan

Kitchen

• Remove old narrow style kitchen
• Get electrician to install new power points
• Install new kitchen
• Remove old freestanding stove and replace with new oven, cooktop and range hood
• Install new sink and modern flick mixer tap
• Install tile splash back

Bathroom

• Remove and replace old shower screen
• Remove old style vanity and replace with a new corner unit
• Resurface existing wall tiles
• Resurface existing floor tiles
• Get electrician to install new 3 in 1 heat/lamp/light and replace power points

Toilet

• Resurface existing floor tiles
• Replace cistern and toilet seat

Laundry

• Resurface existing floor tiles

Paintwork – Interior

• Repair minor cracks and gaps in cornices in most rooms
• Paint all ceilings
• Paint all walls
• Prime and paint wall paneling in main lounge room (same colour as walls)
• Paint all door and window trims

Paintwork – Exterior

• Spray Paint old galvanised fences
• Spray Paint shed
• Paint some areas of timber gables at front and rear of property where needed

Main bedroom

• Remove old doors from built-in robe
• Install new doors, frame and return on built-in robe

Bedroom 3

• Remove built in desk and bookcase to open up the space

Flooring

• Remove 70’s shagpile carpet from bedrooms, lounge/dining and hallway
• Replace with new Godfrey Hirst textured loop stainmaster
• Lay new vinyl (over top of old vinyl) in kitchen

Gardening and exterior improvements

• Remove weeds from old garden beds
• Place bamboo screening on one section of fence to hide ugly fence
• Add low maintenance plants to rear garden beds
• Add eco mulch to all garden beds over top of existing scoria
• Trim back all shrubs in front garden
• Repair small sections of wood rot in front windows and paint
• Remove amber glass from front courtyard area and replace with timber slats to match existing features in courtyard
• Paint letterbox

One of the main keys to success in project management is great planning and organisation. Next step will be gathering my dream team of tradies and coordinating the work to fit in with my home makeover schedule.

See some teaser photos below!!

All home sellers are concerned with justifying spending money on home improvements when they are just about to move. Some of my clients need a lot of convincing that you need to invest money to make money when it comes to maximising the return on your largest investment. So it is always a bonus when you can quantify the return on your home improvement investment.

I certainly measure all the results I get with my clients using “as is” appraisals before any renovation and home staging improvement begin. Then after the house is sold I compare the gain that has been made – usually in the tens of thousands!

I recently came across a survey that had been done by HomeGain.com that measures the average cost of a range of home improvements done pre-sale, the average increase in sales and finally the average return on investment for that particular home improvement. The survey demonstrates that you don’t need to spend a large sum of money on improvements to get some really great returns.

HomeGain 2009 Top 11 DIY Home Improvements For Sellers (National)

I was recently browsing the Australian Property Investor Magazine website and was heartened to find an article listing the Top 12 tips to Getting a Great Property Valuation.  Especially when I read that the Number 1 tip was Home Presentation.  It comfirms what I consistently preach to my clients (both home owners and property investors) that a combination of Home Staging and cosmetic Renovation are not only great tools to add value to a home before selling but  you can also squeeze extra equity out of your current home or investment property prior to refinancing.

Please find below the part of the API article written by  Michaela Ryan

It’s quite frustrating to have your home loan application knocked back or the loan amount reduced because the valuation came in too low. Here’s 12 ways to get a good one.

Investors periodically have their properties revalued in order to finance additional investments. For example, just say your property’s value has gone up by $50,000. Most lenders will let you borrow around 80 per cent of that value ($40,000) which you can use as a deposit for another property purchase. In order to work out exactly how much they’ll lend you, lenders will often send a property valuer around. So we’ve asked a couple of industry experts for the insider’s word on property valuations. How can investors get the highest figure possible?

Phillip Grahame from Herron Todd White says, “The main things in a valuation are the size and functionality of the dwelling and the size and location of the land.” So obviously the chances of a favourable valuation mainly come down to your choice of property in the first place. And of course, it also depends on what the property market in general is doing at the time. However, according to our experts, there are a number of things you can do to make sure you pull off the best valuation possible on the day.

1. Presentation

Grahame says presentation is the most important thing to take care of when you have an upcoming valuation.

“(Make sure) the gardens are looking nice and the clutter throughout the house is cleaned up and all that sort of thing. Because first impressions, even with property valuers, do count,” he says. “If it’s freshly painted and really neat and tidy and presents well, as it would to a buyer, then we’re going to be more positive on that particular property.”

Mark Ruttner from First Valuation Group agrees, “The owner should provide a property in a state of repair similar to an open for inspection. “There’s nothing worse than rolling up to value a house and all the clothes for the last two weeks are on the bedroom floor; the toilet seat is up; dishes for the last week are still sitting in the sink.” Ruttner suggests mowing the lawn and trimming the edges. He also says any external painting should be fully completed, as first impressions can be significantly dampened by incomplete paintwork.

to read the other 11 Tips    Click Here