They say there is a buyer for every property but the catch is that it often comes down to price.
If you are thinking about selling and want to know what features would add the most market value to your property you have to think like a buyer. And not just any buyer, but buyers looking for property in your area.
There are a number of features that are typically regarded as being highly desirable by today’s homebuyers in Perth. And because these features are what most buyers want, they will be more inclined to pay more for a home that has them.
While some of these features (like the number of bedrooms and bathrooms) are hard to change without an expensive renovation, others can be adapted to suit or highlighted in the marketing. This list is also good to know if you’re in the market to buy, as homes with these desirable features will tend to hold their value or achieve better capital growth than those that don’t.
Features more buyers in Perth want that add the most market value are (in order of priority):
- A 4-bed house or 3-bed apartment
Did you know that the number of bedrooms in the typical Perth home has doubled from 2 to 4 in the last 50 years? This is despite the fact that the size of the average household has reduced. Nonetheless the desire for larger homes remains high because extra bedrooms offer flexibility and savvy buyers are aware of the future re-sale advantage it gives them.
- A second bathroom or ensuite
This one really needs no further explanation. Who doesn’t value a two plus bathroom home (unless you’re the one cleaning them)?
- Plenty of storage
Our households might be shrinking but we are still managing to accumulate just as much stuff that needs to be stored. Often underrated and under-promoted, storage is a feature you should include in your sales marketing if it is an asset in your home.
- Home theatre
In today’s digital world it seems the games/rumpus room of yesterday is today’s home theatre. This is increasingly become a central feature of the home and is highly desired by today’s buyers in Perth. If you have a games room/multipurpose room, you could consider adding some carpet and good light blocking drapes, hanging a flat screen TV on the wall and promoting it as a home theatre to add instant market appeal.
- Off-street parking
The perceived value of a lock-up garage varies depending on location. Overall though, parking doesn’t rate as highly as internal living areas.
- An alfresco area
Our temperate climate in Perth lends itself to outdoor entertaining. So it’s probably no surprise to you that outdoor entertainment areas, especially those that expand the main living area of the home with good indoor/outdoor flow and connectivity, are on the list and will add market value to your home.
Because every home and every suburb is different, it’s always best to speak to local experienced agents like us who know what buyers in the area will pay more for BEFORE making any changes. Call Shelley on 0411 552 309 or Mark on 0417 963 670 for an obligation free, accurate market appraisal and property consultation.