Pool Fights with Extra Bedroom for Top Honours
I remember commenting on a Michael Yardney article which talked about the distinct tastes of Sydneysiders and Melburnians when it comes to choosing home features for themselves. Real estate constructors have been served well with the knowledge that “public transport access” and “shops in the vicinity” mattered more to Melburnians whereas ‘traffic’ mattered a lot for Sydneysiders.
Of course, the teeming multitudes of both the cities put “neighbourhood safety” right at the top in their wish list. In another article that works along the same lines, Holly Jones, writing for the website realestate.com.au, talks about what features on the property wish-list of Aussies in general.
Extra bedroom, swimming pool at the top
Additional bedroom and swimming pool ranked highest among many other additions in the renovators’ wish list. It is quite something to know that swimming pool towers over many other practical additions; take en-suite bathrooms and off-street parking for example. Yes, an additional bedroom is one pragmatic choice that the ‘pool’ could not beat- the former fetching 25% votes while the latter amassing 21%.
Additional bedroom lures investors
Extra bedroom is definitely an extra incentive for investors because it immediately raises the property sticker. Aside from that, it also increases the acreage of a land or block, something which is very much a part of the investors’ scheme.
Outdoor dining space may become less attractive
While Australians fancy an outdoor dining space (it is worth a mention that the traditional dining space has all but merged with the kitchen or the living area), Jones asserts that it is not a big lure for buyers. Jones also categorically emphasises that between the two (pool and extra bedroom), it will be an investment-savvy decision to go for the extra bedroom. The pool, for all its aesthetic worth and pacifying quality, may not be what many buyers are willing to fork extra dollars for. Truth be told, some of them may even abstain from looking into properties with pools.
You can read the original article here.
While surveys, taken now and then, may shift their percentages (towards one feature or other) a bit every time, a few things are as sure as writing on the wall. Residential road parking, in my opinion, has its best days in the past and same fate awaits off-street parking.
The new investment scenario
I ditto with the article in its take on the additional bedroom. I think it makes for perfect investment sense. In the present climate, investors have all but pushed first home buyers to the brink. This will mean that they might require a lot more time to save enough deposit for upfront fees. What naturally succeeds such a scenario? It is obvious that people will be forced to stay longer with their parents and this is where an extra bedroom meant for those ‘young adults’ may become an even more enticing prospect.
What feature at 1,2, and 3 on your property wish-list?