What do Australians have on their property wishlists?

73Owners of investment property in Sydney looking for a way to help add value to their homes could be interested in the latest survey blog post on realestate.com.au, which has found out what Australians would love to add to their own homes.

According to the January 27 blog post, adding an extra bedroom to their properties topped the list for over 25 per cent of respondents, indicating the desire for larger, more spacious homes – something that can easily be added to existing real estate within Sydney.

With the projected population growth expected to explode over the next few years, now could be the perfect time to undertake these renovations, in order to help maximise the returns received from selling investment property.

Investment specialist Peter Koulizos said that adding another bedroom to an existing property was a great way to add value to the property, with the number of bedrooms a home has being a key determinant for the valuation of real estate. The basic rule; the more bedrooms, the higher the value.

“Why? Because owner occupiers will pay more for a bigger block of land and/or a bigger house as these are two of the prized attributes of a property,” wrote Mr Koulizos on the January 27 blog post.

He also said that tenants were more likely to pay a larger rent for properties with more bedrooms, especially if this meant a larger, more open space for them to live in. However, additional bedrooms wasn’t the only renovation sought by Australians.

Adding a swimming pool to their home was the second most popular response to the survey, with almost 20 per cent of people wishing to focus on developing their property’s outdoor living options. These options could be something to consider when attempting to maximise your returns on an investment property.

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