We all have fantasies when it comes to our renovation plans, but it certainly helps to know which features, fixtures and fittings are worth busting the bank for, and where you might be over-capitalising. To help you make the right decision, we’ve teamed up with industry experts to give you the top 15 renovating must-dos.

1. Spend sufficiently to get all the storage you need
It seems storage is one element you can’t spend enough on. If planned well, it does more to sell a house than, say, a marble bathroom, because, while lifestyle-specific storage is regarded as a luxury, general storage is a practical feature that helps you organise your home more effectively.

“Budget to build in lots of storage,” says Emma McDowell of McDowell Homes, a company that builds homes on the north coast of New South Wales. “Storage for a whole house, with wardrobes built by a cabinet-maker along the same lines as the kitchen cabinets, could cost you around $70,000. You can spend between $20,000 and $30,000 on the walk-in wardrobes alone, because the specialised fittings are expensive. But this is what appeals to many people.” If your budget doesn’t allow for customised storage, think of clever additions such as pull-out pantries, wire-basket systems and open shelves around windows and doors.

2. Add a multi-purpose room
A media room is on many renovators’ wish lists, but what most people are really looking for is a multi-purpose room. “People have different ideas of how they could use this space. They might want to turn it into a guest room or a games room for the kids. It’s a really good selling point,” says Dino Gatti of Ray White, Neutral Bay Mosman. The idea is that you decorate the room for how you want to use it, then, when it’s time to sell, you reveal the space’s potential – you don’t actually have to install the equipment.

3. Never underestimate the indoor outdoor connection
Everyone remembers the view, the kitchen/family living area – and whether it flows into the garden or not. “Most buyers still want the indoor-outdoor look, so money spent on top-quality louvres and sliding, bi-fold or push-back doors is always worth it, because it increases the value of your house,” says Emma. Despite this definite trend, don’t overdo it. For many, the loss of privacy and security sometimes incurred when a house is ‘opened up’ can outweigh the benefits gained.

4. Air-con is still a big winner
Fully ducted reverse-cycle airconditioning for an average three-bedroom, single-storey house costs from $7000 to $10,000, but you’ll recoup the outlay. Ceiling fans are also appealing, as are any elements which contribute to cross-ventilation. 

5. Turn it up with tapware
“Great tapware is a big thing. Shop around to buy the best you can afford on well-designed, good-looking tapware. European designer fittings, such as Reecedesign’s Teknobili mixer, have the most status,” says Dino. Get inspiration from hotels  and restaurants that have been renovated. Match the look with those you can find from the large ranges at Reecedesign and Tradelink. Commercial suppliers, too, can be worth exploring. 

6. Do add a timber deck
“You’ll get a better price with a deck and it’s cheaper than putting on another room, even if it’s three times the size. A deck creates a fabulous outdoor area – and that’s what people will remember,” says Jenny Atkinson, a Sydney designer and developer. Expect to pay between $5000 and $10,000 for an average-sized deck in treated pine.

7. Get the latest technology but hold the smart wiring
The time to add smart wiring is when you are building a new house or doing an extensive renovation. If all you’re really after is a home theatre, choose high-quality freestanding equipment instead of re-wiring the whole house, as it could easily cost you $20,000. Emma does suggest installing a basic system for linking technology between rooms, concentrating on convenient phone and computer points rather than a fully integrated affair. Video intercoms are frequently requested, she says, and add to the appeal of a house.

8. Spend on luxury finishes
“A 10-year-old renovation doesn’t hold its value as a renovation any more,” says Dino. “So you need to keep an eye on the selection of your finishes and fixtures. People want to see the last word in contemporary design. They want the absolute best. If you want a premium price for your house and to recoup all those hard-earned renovation dollars, then you’ll have to use lots of luxury finishes. If a house is selling for, say, one million dollars, buyers expect finishes and quality to the level of a two-million-dollar house.”

9. Make sure that the kicthen is low maintenance
Granite used to be the luxury material of choice for benchtops, but many people are now buying composite-stone alternatives, such as CaesarStone or Stone Italiana, because they’re easier to maintain. These products, as well as the new solid-surface benchtops from Laminex and Marblo, are worth the extra expense (usually around $400 per square metre) for their durability and appeal. And, as far as splashbacks go, tiles are passe and stainless steel has lost its gloss: people now want glass splashbacks (which are actually more affordable).

10. Install a fireplace
“If you have a fireplace and you plan to renovate, keep the fireplace,” says Jenny. Should you have one specially installed? If the living space is lacking a strong focal point, then yes. In just about every single home that sells well, no matter what  price range, there is one or more fireplaces, even if they’re purely ornamental. Enviro-wise families will install the new EcoSmart fireplace from The Fire Company.

11. Designate a home office
Home offices fit in with the fresh appreciation for multi-purpose spaces. “These days, a home office will sell a house, so it’s worth spending the money on having computer connections installed,” says Emma.

12. Use recycled materials
Clearly, using recycled or environmentally-friendly materials has a certain status. But does it sell a house? As yet, the jury is still out on this one. One trend to watch, however, is the shift from naturally-finished hardwood floors (now yesterday’s news) to timber that has been salvaged from old homes and warehouses.

13. Make the bathroom shine
You can make a big splash with your bathroom, but don’t go overboard. “A double shower, yes; a fully-tiled marble bathroom, yes; but a spa bath, no, not really,” says Dino. “I think marble (including composite marble) ages much better than tiles and it never really goes out of fashion. It’s worth the expense.”

14. Add the creature comforts
Include a few luxury extras, such as heated towel rails in the bathroom, underfloor heating in the ensuite, a small appliance cupboard in the kitchen or dimmer switches for the lights. But keep a close eye on whether you’re making a lifestyle choice or an investment decision. “You have to ask yourself: is this part of the standard of the market you are aiming for when you sell your home? Many luxury items are not going to be key decision-makers for prospective buyers; they’re just nice things to have in your home,” says Jenny.

15. Put money into the design 
One aspect of renovation where you should never cut corners is the initial design stage.  A well-thought-out floor plan and layout is important, with spaces that are filled with daylight and are well-ventilated (a musty smell will turn anyone off). So take the time to find an architect who’ll make the most of the space while also tailoring the renovation to suit your lifestyle. According to the experts, proportion is everything. Good bones can make up for a multitude of sins and gain for you the one thing that is priceless: a space flooded with natural light that people just love to be in.