Recently, we caught up for a coffee with Jane Slack-Smith, the founder of Your Property Success. It was an amazing opportunity for us to tap into her wealth of knowledge, when it comes to small budget renovations in particular, bathroom renovations.
“There’s no doubt that a strategic renovation or makeover can really add a lot a value to a property – but that doesn’t mean that you have to spend a fortune. Spending just a few thousand dollars in the right places can potentially generate tens of thousands of dollars in value.” Notes Jane.
However, Jane was also quick to note that before the fun begins, there just needs to be a word of caution.
“Renovating to add value and drive resale profits is different from a normal renovation. It’s all about renovating to the tastes of your potential buyer or renter and not your own personal tastes. This is an area where so many people have difficulty, but the important thing to remember here is that you are not your buyer. You need to cater to what the majority of buyers in your area are looking for and to the broadest possible tastes.”
Most people wouldn't be surprised to read that, like kitchens, bathroom improvements can offer high returns when done properly.
“Avoid completely gutting the bathroom and starting from scratch, because this can be very expensive. Look into low-cost options that get you the clean and tidy look you are after. For example, keeping the drains where they were, will be a lower cost option.” commented Jane.
Jobs like painting walls and/or painting ceilings is the least expensive way to improve your bathroom. “You can even paint over tiles or use a special substance to paint baths,” remarked Jane.
It may seem very obvious but even something as simple as adding a new colourful shower curtain and a new toilet seat can make a difference when attracting interested buyers.
“Consider using replica designer tapware: It looks great, is inexpensive and be sure that it conforms to AS standard.” suggested Jane.
Many retailers in the bathroom and kitchen industry have seen the demand for shopping online and, over the last 5 years, the industry online has expanded. This means, items like tapware and door handles can be easily purchased online, which can help with savings, as well as convenience.
“Replacing the showerhead in the bathroom with something quite sleek, long and silver with several water flow options can also help it seem more luxurious and expensive.” Cleverly notes Jane.
So, when we asked Jane to suggest a dozen small jobs one could do themselves to improve the appeal, and hopefully in turn the sale value, of their bathroom – what would she suggest?
- Paint linen cupboards & update handles
- Replace bathroom mirror
- Replace vanity
- Replace handles
- Replace towel rails and toilet holder
- Replace shower screen
- Paint or replace tiles
- Resurface the bath
- Install new shower curtain
- Replace the toilet seat
- Make it light and bright
- Add a bit of luxury with dual showerheads
Jane also notes that when it comes to selecting your new bathroom colour scheme, it’s best to “choose only a few colours and keep them neutral. Remember, it’s not about what you like; it’s about appealing to the broadest possible buyers’ market,” in order to increase your possibility of maximum potential return when it comes to sale day.
“Renovation has been very kind to me. It’s been central to the property investment strategy that I have used to build a multimillion dollar property portfolio. But for me it’s definitely not a case of just renovate and hope for the best, there are a strict set of rules that I follow and it’s these rules that make it possible for me to make consistent profits in any market,” Jane noted.
And, given the results Jane has achieved over the years, clearly she is onto a winning formula!
The Team at House of Home would like to thank Jane Slack-Smith, Your Property Success for her time and valuable advice on tips for small bathroom renovations that can add value to your property
Need to improve your bathroom? We've got thousands of bathroom products to choose from. If you need some help choosing tiles for your renovation, then make sure you read our Expert Tile Advice.