There are several reasons you might want to pursue a home renovation in NZ, but they may include, Build more space to stay in Add another story Change the esthetics to suit the style you prefer Revamp your kitchen or upgrade your bathroom Subdivide so that all of you will have your own room (such as elderly parents or teens) Increase appeal and value for the streets When you are renovating to raise the street appeal of your home so that you can put up the asking price, then you have to concentrate on increasing the value of the property above what you spend.
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The average cost of a renovation in New Zealand would be between $1,800 and $2,500 per square metre. Plan the project carefully, and get more money than you put in. Avoid overcapitalizing because you might end up with more mortgage than the value of the property.
Know also what the ceiling prices are for similar properties in your area to what yours will be after the renovation. Swimming pools are a perfect example of overcapitalize. Home upgrades in NZ that involve a swimming pool, will never add the pool cost to the home's value. We don't suggest you shouldn't have a swimming pool, but if you do, it should be because you intend to live for s at the property.
infographic by: advancedcash.co.nz
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