When it comes to renovating a house, one of the most common questions asked is ‘how much value does renovation add to a house?’. It’s an important question to consider, as renovating a house can be a costly exercise and you want to make sure that the money you spend is going to be worth it in the long run.

In Australia, the answer to this question is not a simple one. It depends on a number of factors, including the type of renovation, the location of the property, the current market conditions, and the quality of the renovation.

When it comes to the type of renovation, some renovations will add more value than others. For example, adding a new kitchen or bathroom will generally add more value than simply painting the walls. Similarly, renovating an outdoor area such as a deck or patio can also add value, as it can make the property more attractive to potential buyers.

The location of the property is also important. If the property is in an area that is in high demand, then any renovations you make are likely to add more value than if it was in an area that is not in high demand.

The current market conditions are also important. If the market is in a downturn, then any renovations you make are likely to add less value than if the market is in an upturn.

Finally, the quality of the renovation is also important. If the renovation is of a high quality, then it is likely to add more value than if it is of a lower quality.

In general, it is difficult to estimate exactly how much value a renovation will add to a house. However, it is possible to get a rough idea by looking at similar properties in the area and seeing how much they have increased in value after being renovated.

At The Home Loan Partners, we understand that renovating a house can be a daunting prospect. That’s why we’re here to help. We can provide you with expert advice on the best way to finance your renovation, and help you to get the best home loan for your needs.

So, if you’re considering renovating your house and want to know how much value it will add, then get in touch with The Home Loan Partners today. We’d love to answer any questions you have and help you to get a home loan.