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The Block is back on our televisions and it’s not the only home decorating/property series doing the rounds. When The Block first burst onto our screens several years ago it was during the time when the property market across the country, particularly in Sydney and Melbourne, was booming. (And for that matter, so was reality TV!)
Renovations can make good sense, and one reason for this is the impact of property taxes, such as stamp duty on the market. If you sell your house you pay commission, and if you buy a house you pay stamp duty. If you stay put and renovate, you pay nothing but the price of your architect, materials and builder; plus at the end of the day you get exactly what you want. No compromise between a fifth bedroom or a study, a second bathroom or a bigger laundry. When it’s your personal design you customise it to suit your needs and those of your family.
And if you plan your renovation properly and make sure you use professional services, you will add value to your home in the long term.
So what are the big trends in renovations so far in 2013? Karina May writes on realestate.com.au:
• Multi-purpose rooms: creating flexible spaces that can be adapted in future.
• Sprucing gardens: low maintenance exteriors and lawn alternatives such as paving keep yard work to a minimum.
• Modernising outdated kitchens: It’s no secret that kitchen remodels have one of the highest returns on investment. Small enhancements make a big difference (new cupboard handles, light fittings and paint etc).
• Adding colour and prints: Have some fun with your home’s interior. A neutral colour palette is a safer option for resale, but according to experts, beige walls are out and colour blocking is in. Experiment with features such as a bright splashback or a nostalgic wallpaper in a bedroom.