Browse Forums Increasing Home Value 1 May 01, 2008 12:32 pm We are wanting to increase home value for increased valuation, not for sale. Wondering about building pergola over existing paved area, and opening up living area with french doors to this area Re: renovating to increase value 2Jun 15, 2008 10:27 pm i'm wondering if anyone has a view on extending my inner-suburban house (in brunswick, melbourne) further into the backyard?
i've noticed that a few neighbours along my street are doing it but i can't help but wonder whether it's worth it to sacrifice backyard space. at present i've got 9m of backyard. my neighbour has the same but they're going to cut 3.6m from it to extend the house. (and cast a shadow on my backyard) these are single-fronted, 2 bedroom houses and the neighbours are doing it for the room after starting a family. i don't need to extend (just me and my partner) but the lean-to extension probably will get torn down at some stage and i'd need to make a decision whether to extend outwards as well. basically the main criteria for extending or not would be capital gain. is it worth it? Re: renovating to increase value 4Jun 17, 2008 11:20 pm Jules21,
You rmight find this article of value re your potential project. http://www.yourhome.gov.au/renovatorsguide/index.html Cheers Steve Re: renovating to increase value 5Jun 18, 2008 8:18 pm hey thanks for that Steve - surprising what the govt produce.
i guess the real issue for me is trying to work out whether prospective future buyers would prefer more backyard space, or more home space. if i extend the back of the house and backyard space is at a premium for buyers, then i'm wasting my money. Re: renovating to increase value 6Nov 11, 2008 2:57 pm Hi Jules,
In the example you have described, I don't think that you would go wrong in extending the house. Most people find the living quaters the deal breaker with purchasing the house and are more likely to compromise on garden space then living space. Converting a house from a 3 bedroom, 1 bathroom home into a 4 bedroom, 2 bathroom home for example, will have a much bigger impact on the value of the home as it automatically lifts it to the next price bracket, then loosing 3-4 meters of land out back. P.S. I know a few people who are doing renos/developments in your area with huge successes. Send me a message if you need more info. - Contributor to Australian Property Investor mag, Wealth Creator, YIP, Property Review Weekly, Herald Sun, Courier Mail, 4BC radio, 2UE radio, Southern FM, etc http://www.RenovateAndProfit.com Re: renovating to increase value 7May 07, 2009 7:53 pm Adding extra bedrooms/bathrooms will always increase value, aslong as your not over capatilizing on your property ie 2 extra bedrooms in a predominate 4 x 2 suburb. my blog- www.concretesoakwells.com.au Just to makea point about this, an approach that some people have found sucessful in negotiating these rises down, Is to provide some workings to the builder, specifying… 4 81667 Fair Trading can issue orders to rectify and complete but once the matter goes to NCAT these orders are automatically vacated. You will have to terminate contract and sue… 21 29679 How are you doing Ben? Extremely interested in hearing what you are doing or plan to do! 12 15113 |