Building, designing and renovating your own home is incredibly exciting, but it’s also difficult. This is especially true if you are doing it for investment purposes; perhaps you want to sell on at a profit, or you may even be thinking about renting it out to tenants.
You need to ensure that any renovations that you do actually add value to your home, and are aligned with your investment purposes.
Flooring is one of the major aspects of any home, and what material you use and how you invest in your flooring could have a big impact on the value of your property.
Neutral is nice
When it comes to putting flooring into a home that you want to resell or rent out, then the best choice is to keep it simple. Don’t go for bold and bright, because what could be your cup of tea could be awful to potential tenants and buyers.
Try and appeal to a broader audience by using neutral colours that won’t be too much of a contrast.
Market research is essential
Try and imagine who you think is going to buy or rent your house – is it in a university town? This would mean students; if it’s an apartment in the inner city, it’s going to be young professionals.
Areas with a lot of schools are likely to attract families and so on. Once you know who you are targeting you can make your floor suit their needs.
For example you may want to buy engineered flooring in Sydney for young, modern professionals, but you are unlikely going to want to invest in hardwood or timber if students are going to be living in the house.
Durability is essential
Durability is always important when you are renovating, however it’s even more essential if you are thinking of renting your property out.
As landlords you will be in charge of all maintenance, so it’s of utmost importance not just to get a floor that is affordable and durable but also that you purchase fittings and accessories that have a lengthy warranty to cover any mishaps that may happen.
Hardwood is more expensive but lasts a very long time, and remember if you are putting in carpeting that it should be low maintenance and easy to clean.