What To Do Before Creating Your Renovation Floor Plan
Hi, everyone! Today, I want to talk to you about the importance of considering the renovation floor plan. It’s so exciting to get in there and rip, and bust, and demolish, but you must think about your floor plan before you do any of that.
This is Naomi Findlay, and welcome to this month’s Renovation Success Tip.
There are three things I want you to consider in regards to your floor plan.
Who Is Your Market?
I want you to know that everything you do in renovation should be about your target market. Whether it’s your plan to sell or lease in the end, you should know what their needs are.
For example, are they downsizers? Are they families that need larger living areas and an indoor-outdoor space? Are they young professionals that need to streamline modern living and a sophisticated entertaining space?
You need to know absolutely everything about your market because that would then allow you to feed into step number two, which is knowing how they’re going to live in each and every one of those spaces.
What Are Your Market’s Needs And Wants?
Once you know who your market is, and you know their needs and their wants, you can actually look at the floor plan of your property. This is where you can work out how they’re going to live in each of those spaces. So ask yourself these questions:
What are the functions of their spaces?
What are they going to need in those spaces to make it ideal for them?
And how are you going to deliver that?
How Can You Add Value?
Now, the third thing I want you to think about when you’re looking at your floor plan is how you can add value. It’s essential that you nail what is already there. However, it’s also important to look at how you can add and squeeze extra value into that floor plan. It’s about looking at what you already have there and trying to squeeze extra value out of that. It doesn’t have to be structural. Some examples are:
Adding a study nook to the kitchen
Enclosing an old second dining space
Creating a bedroom out of some space, creating a guest space out of that, or using that as an ensuite space.
Adding extra storage at a higher level above the kitchen cupboards.
Increasing the footprint slightly of the kitchen island to create a functional and an entertaining kitchen.
So those are the 3 things I always want you to think about when you look at the floor plans for your renovation. These things should be the first things you do before you rip, tear, and bust with demolishing.
Look at your renovation floor plan, think about who the home is for—who your market is. The second one is how your target market is going to live in it. And the third one is how you’re going to add value.
Thank you so much guys! I will be back next month for some more tips on how to add value to your property and how to renovate for wealth.