Four Extensions That Add Value to Your Propertyadmin / Property management / January 10, 2018 / No Comments
When a client outgrows their home, or is desperate for more space, adding an extension is a great solution. Extensions are a financial investment, and they need to be considered wisely, to ensure they add value to your property. Often the value is in the eye of the owner, especially if they gain extra space in a home they love. But if you are extending a home to add value, here are four extensions that will increase the value of your property.
An ensuite used to be a luxurious add-on to older homes, but now, they are an expected addition. Adding an ensuite to the main bedroom of a property is an excellent way to add value to an existing home. More and more clients want a main bedroom that has access to its own bathroom. This can offer a retreat when guests stay or when having to share with kids. With many new homes offering ensuites as the norm, adding this to an older, inner city home will not only add value to the property, but appeal to a broader range of people if you ever choose to sell.
2. Deck and Outdoor Entertaining Area
Australians LOVE to entertain outdoors. Adding a deck and outdoor entertaining area gives potential home owners the option to entertain guests outside. With many people opting to eat in or entertain guests at home, the addition of a deck and outdoor entertaining area can be deal maker for those that love having family and friends over for BBQ’s and functions.
3. Butler’s Pantry
A butler’s pantry is often viewed as a luxury, and if given the choice, not everyone would opt to add one to their renovated kitchen. However, a butler’s pantry adds storage and a place for ‘mess’ to be contained. Many of us are drawn to clean interiors and a butler’s pantry is the perfect antidote to keeping a clear kitchen bench. This space can be the hub of housing appliances and hiding the prep work when entertaining.
4. A Study
It’s common for many property owners to work from home, so having a dedicated study adds value and appeal to a property as it offers a space for them to work in. Whether it’s a study nook or a room that can be used for multiple purposes, a dedicated study will add appeal to a property if it is ever put on the market.