Whether you are a first home buyer or a seasoned investor, it always pays to know what Australians want in a property. If you can ensure your property has what people want then your house is far less likely to spend a long time languishing on the market.
But just what is it that Aussies want nowadays? How viable are they to add to an existing home? Will you need a construction loan to cover the costs?
The Real Estate Buyers Agents Association of Australia has released a report on the top 10 things that an Australian wants in a home, and among them is the desire for two bathrooms and one secure car park at a minimum. First home buyers or people after an investment home loan should both take heed that big constructions like these should always be done with plenty of research.
However, you have to be careful about whether adding a bathroom will be the most efficient use of your time and funds. According to Home Guru, a second bathroom in a two bedroom house will not add as much value as it would in a five bedroom house.
Parking is also a big factor, ranking at number four in the top ten most-wanted features for Australians. Adding a garage can be a major project, but it is likely to hold its value, unlike specific interior design trends that may be out of fashion in five years: people will nearly always need a car, and a place to keep it safe!
Open plan living rooms and natural light
Ranked at number one and three respectively, these two aesthetic choices should be considered when updating your property to appeal to buyers. Australians want large, open spaces with plenty of light flowing in from windows and skylights. Rather than the major addition of adding a new room, these types of projects only require reinventing your existing structure and can be far more cost-effective as a result.
Making a home open plan can give your property a much more grand feel.
Whether it is removing door or knocking down walls, making a home open plan can give your property a much more grand feel and provides plenty more space.
Skylights are particularly good for letting in natural light. As well as saving on lighting bills, skylights that can be opened are extremely beneficial during the hot Australian summers, as they let the rising heat out, while in winter they let the light in! Renovate.com.au particularly recommends skylights for these reasons.
You can contact a Smartline Mortgage Adviser on 13 14 97 for mortgage advice. Or complete our call request form and we’ll call you!
DISCLAIMER: The information contained in this article is correct at the time of publishing and is subject to change. It is intended to be of a general nature only. It has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on this information, Smartline recommends that you consider whether it is appropriate for your circumstances. Smartline recommends that you seek independent legal, financial, and taxation advice before acting on any information in this article.