Browse Forums General Discussion Re: Dark living room 2Dec 07, 2023 3:40 pm capital grown is affected by other factors than how dark your loungeroom is, consequently adding a skylight does nothing to impact those factors. Will it make your lounge lighter? yes. Will it change how the market behaves? no. Re: Dark living room 4Dec 08, 2023 7:36 am lukazi ponzutwo capital grown is affected by other factors than how dark your loungeroom is Is this true for villas too? My home is a villa in south perth, not a house on a detached block of land. its true for any real-estate. Have you bought investment property without understanding how property markets work? Re: Dark living room 5Dec 08, 2023 8:06 am Capital gains are driven by what someone is willing to pay for your home in the current market. When the market is booming (like before the post covid correction), capital gains are being driven by FOMO for the most part. During the mining boom, there were mining towns in WA with terrible little shacks barely able to be called homes going for hundreds of thousands of dollars but were literally worthless. That was driven by FOMO and the lack of suitable accommodation for all the FIFO workers. However, in a normal stable market, Capital gain is driven by Location, proximity to amenities such as shops, schools, transport, access to arterial roads and people’s desire to live in those locations and teh money tehy are willing to pay. Mor epeople looking, less quality stock, prices rise as people compete to purchase those properties. For instance you could have a villa in a nice leafy quiet street, with nice finishes and a beautiful courtyard, but if people have to drive 20 minutes to buy groceries, and the transport connections into Perth are 2 busses with a change over, the capital growth of that property will be slower as there will be less demand for such a property. Other than those when it comes to valuation, your home will be compared to similar sales in the area. Is yours better or worse than those, how many similar properties sold and how quick. In the most extreme example where say there were no sales of similar properties in the area for say 1 year, then theres been no real capital gain, in fact the gain may be negative as people in the area wh are selling have to resort to cutting asking prices until someone buys. Dark or light lounge room will not make one iota of difference to the projected capital growth per se. If there were two identical villas side by side and both were for sale at the same time, and one was light and the other dark, THEN the light one may command a slightly higher premium, if all things were equal. But still the capital growth for the property type and location would be driven by other factors. More desirable areas tend to have higher growth, some compromises to various amenities and features may be forgiven over others. In a trendy inner urban area its probably less important to those looking to buy those properties to say have a quiet street over having a 5 minute commute by one bus. If you’re simply trying to improve your property for a better POTENTIAL sales price, there’s things you can do. Installing skylights may be one of them. However, depending on the historical performance of the market and house prices in the area, over capitalizing on improvements may not give you the return on investment you are expecting. Common low-cost improvements that are tried and true for any property are a fresh coat of paint throughout, proper clean/deoderise, new carpets or refinishing of floors (if wood) etc. More expensive options are replacing the kitchen or bathroom (or both) if it is tired and old., but only if the economics of the market direction stack up. I.e. if the market is contracting, I wouldn’t be spending anything I don’t have to. In anycase if you’re going to be living in the property and you don’t like how dark the living area is, put in a skylight. Just don’t balance the decision with an idea that it will necessarily make the property value increase any more exponentially than the market dictates. Re: Dark living room 6Dec 12, 2023 7:40 am ponzutwo Capital gains are driven by what someone is willing to pay for your home in the current market. When the market is booming (like before the post covid correction), capital gains are being driven by FOMO for the most part. During the mining boom, there were mining towns in WA with terrible little shacks barely able to be called homes going for hundreds of thousands of dollars but were literally worthless. That was driven by FOMO and the lack of suitable accommodation for all the FIFO workers. However, in a normal stable market, Capital gain is driven by Location, proximity to amenities such as shops, schools, transport, access to arterial roads and people’s desire to live in those locations and teh money tehy are willing to pay. Mor epeople looking, less quality stock, prices rise as people compete to purchase those properties. For instance you could have a villa in a nice leafy quiet street, with nice finishes and a beautiful courtyard, but if people have to drive 20 minutes to buy groceries, and the transport connections into Perth are 2 busses with a change over, the capital growth of that property will be slower as there will be less demand for such a property. Other than those when it comes to valuation, your home will be compared to similar sales in the area. Is yours better or worse than those, how many similar properties sold and how quick. In the most extreme example where say there were no sales of similar properties in the area for say 1 year, then theres been no real capital gain, in fact the gain may be negative as people in the area wh are selling have to resort to cutting asking prices until someone buys. Dark or light lounge room will not make one iota of difference to the projected capital growth per se. If there were two identical villas side by side and both were for sale at the same time, and one was light and the other dark, THEN the light one may command a slightly higher premium, if all things were equal. But still the capital growth for the property type and location would be driven by other factors. More desirable areas tend to have higher growth, some compromises to various amenities and features may be forgiven over others. In a trendy inner urban area its probably less important to those looking to buy those properties to say have a quiet street over having a 5 minute commute by one bus. If you’re simply trying to improve your property for a better POTENTIAL sales price, there’s things you can do. Installing skylights may be one of them. However, depending on the historical performance of the market and house prices in the area, over capitalizing on improvements may not give you the return on investment you are expecting. Common low-cost improvements that are tried and true for any property are a fresh coat of paint throughout, proper clean/deoderise, new carpets or refinishing of floors (if wood) etc. More expensive options are replacing the kitchen or bathroom (or both) if it is tired and old., but only if the economics of the market direction stack up. I.e. if the market is contracting, I wouldn’t be spending anything I don’t have to. In anycase if you’re going to be living in the property and you don’t like how dark the living area is, put in a skylight. Just don’t balance the decision with an idea that it will necessarily make the property value increase any more exponentially than the market dictates. Thanks so much for your detailed reply, much appreciated! Makes sense what you are saying. When you say ligher property may command a slight premium, any idea how much that wouod be (say 5%)? We bought in South Perth and I think the area is excellent. It's right behind Angelo street, 10ish min walk to the river. We are thinking of installing Velux windows (5k roughly) in the living room, but after reading your message, we'll probably focus on cost-effective renos. We want to sell one day. Re: Dark living room 7Dec 12, 2023 7:54 am lukazi ponzutwo Capital gains are driven by what someone is willing to pay for your home in the current market. When the market is booming (like before the post covid correction), capital gains are being driven by FOMO for the most part. During the mining boom, there were mining towns in WA with terrible little shacks barely able to be called homes going for hundreds of thousands of dollars but were literally worthless. That was driven by FOMO and the lack of suitable accommodation for all the FIFO workers. However, in a normal stable market, Capital gain is driven by Location, proximity to amenities such as shops, schools, transport, access to arterial roads and people’s desire to live in those locations and teh money tehy are willing to pay. Mor epeople looking, less quality stock, prices rise as people compete to purchase those properties. For instance you could have a villa in a nice leafy quiet street, with nice finishes and a beautiful courtyard, but if people have to drive 20 minutes to buy groceries, and the transport connections into Perth are 2 busses with a change over, the capital growth of that property will be slower as there will be less demand for such a property. Other than those when it comes to valuation, your home will be compared to similar sales in the area. Is yours better or worse than those, how many similar properties sold and how quick. In the most extreme example where say there were no sales of similar properties in the area for say 1 year, then theres been no real capital gain, in fact the gain may be negative as people in the area wh are selling have to resort to cutting asking prices until someone buys. Dark or light lounge room will not make one iota of difference to the projected capital growth per se. If there were two identical villas side by side and both were for sale at the same time, and one was light and the other dark, THEN the light one may command a slightly higher premium, if all things were equal. But still the capital growth for the property type and location would be driven by other factors. More desirable areas tend to have higher growth, some compromises to various amenities and features may be forgiven over others. In a trendy inner urban area its probably less important to those looking to buy those properties to say have a quiet street over having a 5 minute commute by one bus. If you’re simply trying to improve your property for a better POTENTIAL sales price, there’s things you can do. Installing skylights may be one of them. However, depending on the historical performance of the market and house prices in the area, over capitalizing on improvements may not give you the return on investment you are expecting. Common low-cost improvements that are tried and true for any property are a fresh coat of paint throughout, proper clean/deoderise, new carpets or refinishing of floors (if wood) etc. More expensive options are replacing the kitchen or bathroom (or both) if it is tired and old., but only if the economics of the market direction stack up. I.e. if the market is contracting, I wouldn’t be spending anything I don’t have to. In anycase if you’re going to be living in the property and you don’t like how dark the living area is, put in a skylight. Just don’t balance the decision with an idea that it will necessarily make the property value increase any more exponentially than the market dictates. Thanks so much for your detailed reply, much appreciated! Makes sense what you are saying. When you say ligher property may command a slight premium, any idea how much that wouod be (say 5%)? We bought in South Perth and I think the area is excellent. It's right behind Angelo street, 10ish min walk to the river. We are thinking of installing Velux windows (5k roughly) in the living room, but after reading your message, we'll probably focus on cost-effective renos. We want to sell one day. you've completely missed the point and i kind f feel like it has been wasted effort. How much would the premium be? its unknown. it may be nothing, it could be thousands of dollars. It all depends on many many variables at the time of sale that you have zero control over. Does it add value? sure, but value is subjective. Both homes are identical for sale at the same time, but you have a skylight and a nice light living area, but are asking 10k more. The people in the market at that time may not have the extra money and will buy the darker place due to affordability with a view to install a skylight themselves because they like the look of yours. This leaves a record for a comp sale for an almost like for like property setting a level of resistance to your asking price. Is this an investment property? if so you may want to do some more reading on the subject. 5k can go a long way in adding value to a home if done properly. Over capitalisation on an investment property can see you get a negative ROI on the improvements. Re: Dark living room 8Dec 12, 2023 10:53 am ponzutwo lukazi ponzutwo Capital gains are driven by what someone is willing to pay for your home in the current market. When the market is booming (like before the post covid correction), capital gains are being driven by FOMO for the most part. During the mining boom, there were mining towns in WA with terrible little shacks barely able to be called homes going for hundreds of thousands of dollars but were literally worthless. That was driven by FOMO and the lack of suitable accommodation for all the FIFO workers. However, in a normal stable market, Capital gain is driven by Location, proximity to amenities such as shops, schools, transport, access to arterial roads and people’s desire to live in those locations and teh money tehy are willing to pay. Mor epeople looking, less quality stock, prices rise as people compete to purchase those properties. For instance you could have a villa in a nice leafy quiet street, with nice finishes and a beautiful courtyard, but if people have to drive 20 minutes to buy groceries, and the transport connections into Perth are 2 busses with a change over, the capital growth of that property will be slower as there will be less demand for such a property. Other than those when it comes to valuation, your home will be compared to similar sales in the area. Is yours better or worse than those, how many similar properties sold and how quick. In the most extreme example where say there were no sales of similar properties in the area for say 1 year, then theres been no real capital gain, in fact the gain may be negative as people in the area wh are selling have to resort to cutting asking prices until someone buys. Dark or light lounge room will not make one iota of difference to the projected capital growth per se. If there were two identical villas side by side and both were for sale at the same time, and one was light and the other dark, THEN the light one may command a slightly higher premium, if all things were equal. But still the capital growth for the property type and location would be driven by other factors. More desirable areas tend to have higher growth, some compromises to various amenities and features may be forgiven over others. In a trendy inner urban area its probably less important to those looking to buy those properties to say have a quiet street over having a 5 minute commute by one bus. If you’re simply trying to improve your property for a better POTENTIAL sales price, there’s things you can do. Installing skylights may be one of them. However, depending on the historical performance of the market and house prices in the area, over capitalizing on improvements may not give you the return on investment you are expecting. Common low-cost improvements that are tried and true for any property are a fresh coat of paint throughout, proper clean/deoderise, new carpets or refinishing of floors (if wood) etc. More expensive options are replacing the kitchen or bathroom (or both) if it is tired and old., but only if the economics of the market direction stack up. I.e. if the market is contracting, I wouldn’t be spending anything I don’t have to. In anycase if you’re going to be living in the property and you don’t like how dark the living area is, put in a skylight. Just don’t balance the decision with an idea that it will necessarily make the property value increase any more exponentially than the market dictates. Thanks so much for your detailed reply, much appreciated! Makes sense what you are saying. When you say ligher property may command a slight premium, any idea how much that wouod be (say 5%)? We bought in South Perth and I think the area is excellent. It's right behind Angelo street, 10ish min walk to the river. We are thinking of installing Velux windows (5k roughly) in the living room, but after reading your message, we'll probably focus on cost-effective renos. We want to sell one day. you've completely missed the point and i kind f feel like it has been wasted effort. How much would the premium be? its unknown. it may be nothing, it could be thousands of dollars. It all depends on many many variables at the time of sale that you have zero control over. Does it add value? sure, but value is subjective. Both homes are identical for sale at the same time, but you have a skylight and a nice light living area, but are asking 10k more. The people in the market at that time may not have the extra money and will buy the darker place due to affordability with a view to install a skylight themselves because they like the look of yours. This leaves a record for a comp sale for an almost like for like property setting a level of resistance to your asking price. Is this an investment property? if so you may want to do some more reading on the subject. 5k can go a long way in adding value to a home if done properly. Over capitalisation on an investment property can see you get a negative ROI on the improvements. Thanks so much again for your valuable comments 😀 i think i got your main point. In summary, location is what drives CG, both for units and houses. So now the question is how much value would 5k velux window add and whether there would be more cost effective ways to add value. Did i get this right? Maybe 5k velux can add 10k value in a rising market in inner perth suburb? I'll try to post pic of my living room for your thoughts. We will live in property for about 5yrs before selling. Re: Dark living room 9Dec 12, 2023 10:57 am ponzutwo lukazi ponzutwo Capital gains are driven by what someone is willing to pay for your home in the current market. When the market is booming (like before the post covid correction), capital gains are being driven by FOMO for the most part. During the mining boom, there were mining towns in WA with terrible little shacks barely able to be called homes going for hundreds of thousands of dollars but were literally worthless. That was driven by FOMO and the lack of suitable accommodation for all the FIFO workers. However, in a normal stable market, Capital gain is driven by Location, proximity to amenities such as shops, schools, transport, access to arterial roads and people’s desire to live in those locations and teh money tehy are willing to pay. Mor epeople looking, less quality stock, prices rise as people compete to purchase those properties. For instance you could have a villa in a nice leafy quiet street, with nice finishes and a beautiful courtyard, but if people have to drive 20 minutes to buy groceries, and the transport connections into Perth are 2 busses with a change over, the capital growth of that property will be slower as there will be less demand for such a property. Other than those when it comes to valuation, your home will be compared to similar sales in the area. Is yours better or worse than those, how many similar properties sold and how quick. In the most extreme example where say there were no sales of similar properties in the area for say 1 year, then theres been no real capital gain, in fact the gain may be negative as people in the area wh are selling have to resort to cutting asking prices until someone buys. Dark or light lounge room will not make one iota of difference to the projected capital growth per se. If there were two identical villas side by side and both were for sale at the same time, and one was light and the other dark, THEN the light one may command a slightly higher premium, if all things were equal. But still the capital growth for the property type and location would be driven by other factors. More desirable areas tend to have higher growth, some compromises to various amenities and features may be forgiven over others. In a trendy inner urban area its probably less important to those looking to buy those properties to say have a quiet street over having a 5 minute commute by one bus. If you’re simply trying to improve your property for a better POTENTIAL sales price, there’s things you can do. Installing skylights may be one of them. However, depending on the historical performance of the market and house prices in the area, over capitalizing on improvements may not give you the return on investment you are expecting. Common low-cost improvements that are tried and true for any property are a fresh coat of paint throughout, proper clean/deoderise, new carpets or refinishing of floors (if wood) etc. More expensive options are replacing the kitchen or bathroom (or both) if it is tired and old., but only if the economics of the market direction stack up. I.e. if the market is contracting, I wouldn’t be spending anything I don’t have to. In anycase if you’re going to be living in the property and you don’t like how dark the living area is, put in a skylight. Just don’t balance the decision with an idea that it will necessarily make the property value increase any more exponentially than the market dictates. Thanks so much for your detailed reply, much appreciated! Makes sense what you are saying. When you say ligher property may command a slight premium, any idea how much that wouod be (say 5%)? We bought in South Perth and I think the area is excellent. It's right behind Angelo street, 10ish min walk to the river. We are thinking of installing Velux windows (5k roughly) in the living room, but after reading your message, we'll probably focus on cost-effective renos. We want to sell one day. you've completely missed the point and i kind f feel like it has been wasted effort. How much would the premium be? its unknown. it may be nothing, it could be thousands of dollars. It all depends on many many variables at the time of sale that you have zero control over. Does it add value? sure, but value is subjective. Both homes are identical for sale at the same time, but you have a skylight and a nice light living area, but are asking 10k more. The people in the market at that time may not have the extra money and will buy the darker place due to affordability with a view to install a skylight themselves because they like the look of yours. This leaves a record for a comp sale for an almost like for like property setting a level of resistance to your asking price. Is this an investment property? if so you may want to do some more reading on the subject. 5k can go a long way in adding value to a home if done properly. Over capitalisation on an investment property can see you get a negative ROI on the improvements. Thanks so much again for your valuable comments 😀 i think i got your main point. In summary, location is what drives CG, both for units and houses. So now the question is how much value would 5k velux window add and whether there would be more cost effective ways to add value. Did i get this right? Maybe 5k velux can add 10k value in a rising market in inner perth suburb? Please see pics of the living room below. Keen to hear your thoughts. We will live in property for about 5yrs before selling. https://ibb.co/KjYKS51 https://ibb.co/3FWyC8J https://ibb.co/0ZtVSHL https://ibb.co/n3JMpSx Re: Dark living room 11Dec 14, 2023 11:12 am ponzutwo Capital gains are driven by what someone is willing to pay for your home in the current market. When the market is booming (like before the post covid correction), capital gains are being driven by FOMO for the most part. During the mining boom, there were mining towns in WA with terrible little shacks barely able to be called homes going for hundreds of thousands of dollars but were literally worthless. That was driven by FOMO and the lack of suitable accommodation for all the FIFO workers. However, in a normal stable market, Capital gain is driven by Location, proximity to amenities such as shops, schools, transport, access to arterial roads and people’s desire to live in those locations and teh money tehy are willing to pay. Mor epeople looking, less quality stock, prices rise as people compete to purchase those properties. For instance you could have a villa in a nice leafy quiet street, with nice finishes and a beautiful courtyard, but if people have to drive 20 minutes to buy groceries, and the transport connections into Perth are 2 busses with a change over, the capital growth of that property will be slower as there will be less demand for such a property. Other than those when it comes to valuation, your home will be compared to similar sales in the area. Is yours better or worse than those, how many similar properties sold and how quick. In the most extreme example where say there were no sales of similar properties in the area for say 1 year, then theres been no real capital gain, in fact the gain may be negative as people in the area wh are selling have to resort to cutting asking prices until someone buys. Dark or light lounge room will not make one iota of difference to the projected capital growth per se. If there were two identical villas side by side and both were for sale at the same time, and one was light and the other dark, THEN the light one may command a slightly higher premium, if all things were equal. But still the capital growth for the property type and location would be driven by other factors. More desirable areas tend to have higher growth, some compromises to various amenities and features may be forgiven over others. In a trendy inner urban area its probably less important to those looking to buy those properties to say have a quiet street over having a 5 minute commute by one bus. If you’re simply trying to improve your property for a better POTENTIAL sales price, there’s things you can do. Installing skylights may be one of them. However, depending on the historical performance of the market and house prices in the area, over capitalizing on improvements may not give you the return on investment you are expecting. Common low-cost improvements that are tried and true for any property are a fresh coat of paint throughout, proper clean/deoderise, new carpets or refinishing of floors (if wood) etc. More expensive options are replacing the kitchen or bathroom (or both) if it is tired and old., but only if the economics of the market direction stack up. I.e. if the market is contracting, I wouldn’t be spending anything I don’t have to. In anycase if you’re going to be living in the property and you don’t like how dark the living area is, put in a skylight. Just don’t balance the decision with an idea that it will necessarily make the property value increase any more exponentially than the market dictates. Hey mate, in relation to this comment: "If there were two identical villas side by side and both were for sale at the same time, and one was light and the other dark, THEN the light one may command a slightly higher premium, if all things were equal." How much would this slight premium typically be (say less then 2%)? Just trying to understand if i made a mistake (or overpaid) by buying this property. I guess the question is how much value people put on natural light. Also would adding skylight be as good as property next door that has better lighting due to better orientation/larger windows or similar? Thanks! Re: Dark living room 12Dec 14, 2023 1:15 pm lukazi ponzutwo Capital gains are driven by what someone is willing to pay for your home in the current market. When the market is booming (like before the post covid correction), capital gains are being driven by FOMO for the most part. During the mining boom, there were mining towns in WA with terrible little shacks barely able to be called homes going for hundreds of thousands of dollars but were literally worthless. That was driven by FOMO and the lack of suitable accommodation for all the FIFO workers. However, in a normal stable market, Capital gain is driven by Location, proximity to amenities such as shops, schools, transport, access to arterial roads and people’s desire to live in those locations and teh money tehy are willing to pay. Mor epeople looking, less quality stock, prices rise as people compete to purchase those properties. For instance you could have a villa in a nice leafy quiet street, with nice finishes and a beautiful courtyard, but if people have to drive 20 minutes to buy groceries, and the transport connections into Perth are 2 busses with a change over, the capital growth of that property will be slower as there will be less demand for such a property. Other than those when it comes to valuation, your home will be compared to similar sales in the area. Is yours better or worse than those, how many similar properties sold and how quick. In the most extreme example where say there were no sales of similar properties in the area for say 1 year, then theres been no real capital gain, in fact the gain may be negative as people in the area wh are selling have to resort to cutting asking prices until someone buys. Dark or light lounge room will not make one iota of difference to the projected capital growth per se. If there were two identical villas side by side and both were for sale at the same time, and one was light and the other dark, THEN the light one may command a slightly higher premium, if all things were equal. But still the capital growth for the property type and location would be driven by other factors. More desirable areas tend to have higher growth, some compromises to various amenities and features may be forgiven over others. In a trendy inner urban area its probably less important to those looking to buy those properties to say have a quiet street over having a 5 minute commute by one bus. If you’re simply trying to improve your property for a better POTENTIAL sales price, there’s things you can do. Installing skylights may be one of them. However, depending on the historical performance of the market and house prices in the area, over capitalizing on improvements may not give you the return on investment you are expecting. Common low-cost improvements that are tried and true for any property are a fresh coat of paint throughout, proper clean/deoderise, new carpets or refinishing of floors (if wood) etc. More expensive options are replacing the kitchen or bathroom (or both) if it is tired and old., but only if the economics of the market direction stack up. I.e. if the market is contracting, I wouldn’t be spending anything I don’t have to. In anycase if you’re going to be living in the property and you don’t like how dark the living area is, put in a skylight. Just don’t balance the decision with an idea that it will necessarily make the property value increase any more exponentially than the market dictates. Hey mate, in relation to this comment: "If there were two identical villas side by side and both were for sale at the same time, and one was light and the other dark, THEN the light one may command a slightly higher premium, if all things were equal." How much would this slight premium typically be (say less then 2%)? Just trying to understand if i made a mistake (or overpaid) by buying this property. I guess the question is how much value people put on natural light. Also would adding skylight be as good as property next door that has better lighting due to better orientation/larger windows or similar? Thanks! sorry mate, not wasting more time on this. Youve completely missed the mark on some fundamentals and regardless of how many times i try and put it to you differently, you still don't get it. Dont worry about it. Install the skylight and move on. 1 is free to air and the other 2 are for cable TV all of them completely useless in 2024 1 11225 Can anyone help with the layout of my living room, it seems that no matter what I do it never looks right. I have an awquard kind of l shape with 2 doors, bay window and… 0 18534 Thank for yes basically what to remove and what to add, where to place them 2 17096 |