Extras Add X Factor for House Prices In Inner Suburbs – Herald Sun Report
October 1st, 2014
ADDING more than four features to an inner-city Melbourne home could potentially increase the price by $404,550.
The report recently published by the Herald Sun favours the addition of a backyard pool and a spa to add value to your home.
The PRD nationwide data analysed all properties sold within Melbourne between January and June this year. The data showed that adding at least four features to a house could increase the selling price by 62% more than the median house price.
The study compared the sold price of 167 properties that had the same number of bedrooms, bathrooms and car parks.
PRD Nationwide national research manager Diaswati Mardiasmo said the top favourite across all areas remained the outdoor entertainment area.
“It is the one feature which is the most consistent in getting a good price,” Dr Mardiasmo said.
Other features gaining favour were a pool and a spa.
The result spoke volumes about the emphasis on entertaining and socialising that residents seemed to favour, especially in inner-city Melbourne, Dr Mardiasmo said.
“People want someplace they can entertain their friends, make sure they are warm and there is a spare room where they can hang out.”
HOW TO ADD VALUE TO YOUR HOME
1. Focus on outdoor entertainment areas, covered patio and barbecue
2: A fireplace
3: A rumpus room
4: Spend money on quality fixtures for kitchen and bathrooms
5: A swimming pool and a spa.
Endless have a huge range of plunge pools, swim spas and outdoor spas in Melbourne. See our range now! Or call our spa consultants today on (03) 8769 7300
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Article and Picture Source: news.com.au