In the second of our special articles with Frank Valentic from Advantage Property Consulting, a regular face on Channel Nine’s The Block, we discuss how a professional renovation can add real value to a property…
Why do you think the bathroom and kitchen matter so much?
The wet rooms of the house are really important. The rest of the house you can get away with renovating in other ways, but the kitchens and bathrooms you really can’t hide. Particularly the kitchen – it’s the engine of the house. The wet rooms are the rooms that sell a house. They’re areas that people shouldn’t skimp on, whether you’re renovating to sell or to live in your home.
Can you tell us just what is the value of adding a second bathroom to a home?
In my opinion, adding a second bathroom can add $100k+ to a home. There are examples of it adding up to $200k in some areas. But I think that renovating an existing bathroom can add $100k+ in value as well. And by updating a current bathroom you’re not over-capitalising. For example, if you’re spending $30k-$35k you could increase the value of that property by about $100k.
What are your tips for adding an extra bathroom?
Functionality-wise there are some decisions to be made there that can add even more value. Ideally, if you’re adding a bathroom, you want to put it close to where the master bedroom is. There’s no use adding a bathroom upstairs if all the bedrooms are downstairs, for example.
The other thing I always say to clients is to make sure that you have a bath in one of the bathrooms because if the tenants or the buyers have children, they’re going to want to be able to bath them. Having that in the layout of a bathroom is really important. It’s a crucial mistake some people make to add a second bathroom and not make sure one of them has a bath.
To speak with one of our experts about installing or renovating a bathroom, or to request a free in-home consultation, simply get in touch. Call us today on 1300 662 838.