Renovations are a great way to improve your house, add or enhance important features and add additional resale value to your property. At Duncan Thompson Extensions, clients often ask us exactly which room of the house they should focus on with their renovation budget. Our answer is usually the same: Start with your kitchen or bathroom if you’re serious about improving your lifestyle, while also increasing the value of your home.
According to a 2017 report byAustralia’ Housing Industry Association, kitchen and bathroom installations continue to be popular areas for renovation. It correlates to the fact that more homeowners purchase older properties that require modern updates. Historically, Australia experienced a surge in new home construction between the mid-1980s to mid-1990s. As a result, many Australian homes built during this time will have kitchens and bathrooms that are functional but cramped, lacking space for modern amenities or feature outdated décor styles. Both these areas of your home see frequent foot traffic, which can also cause them to show signs of wear and tear earlier than other rooms of the house, adding to the need for renovation.
A bathroom in need of renovation will often lack cabinets or other types of storage space like countertops and vanity areas. Tiled areas might have mould due to poor waterproofing or insulation, and outdated toilets and showers often use more water than necessary. There’s often also cracks, stains and leaks from the bathroom’s faucets, sinks and tubs that need some TLC.
Similarly, an outdated kitchen will often lack storage space; have worn, unattractive countertops and flooring; and outdated, built-in appliances. It can also have a poor layout, inefficient use of space, or lack adequate lighting for cooking and eating.
As local demand for living spaces increases and interest rates for existing borrowers stagnate, there has never been a more affordable time for you to take on some home renovations. In fact, Australia’s Housing Industry Association expects to see the demand for bathroom renovation jobs increase to over 222,000 between 2017 and 2018, with the demand for kitchen renovations rising to 148,000 in the same projected period.
If your kitchen or bathroom is in need of any renovations, contact Duncan Thompson Extensions to get access to our expert help as soon as possible!