Adding value by front/backyard renovations

Discussion in 'Renovation & Home Improvement' started by faroutboy, 18th Jan, 2017.

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  1. faroutboy

    faroutboy New Member

    Joined:
    13th Jan, 2017
    Posts:
    3
    Location:
    Melbourne
    Hi guys,

    I'm wanting to get into IP's in the near future whilst still owning my PPOR. However, my current goal in regards to this is adding value to my existing house. Dumb question but will working on the front/backyard (garden work mostly) add any value to the equity of the house and to what extent on average?
     
  2. SeafordSunshine

    SeafordSunshine Well-Known Member

    Joined:
    24th Jun, 2015
    Posts:
    968
    Location:
    Sydney
    Depends on the length of a piece of string... adding value .. ask your local agents.
    What is desirable in your area?
    Parking?
    Low Maintanance?
    Lawns?
    Security lighting ?
    Safe play area for kiddies?
    Pool?
     
  3. faroutboy

    faroutboy New Member

    Joined:
    13th Jan, 2017
    Posts:
    3
    Location:
    Melbourne
    +1 for Safe play area for kiddies
    +1 for Low Maintanance

    I live in the western suburbs of Melbourne (Sunshine area) and I know that development around here is on the rise. The area in particular where I live has plenty of primary/secondary schools including a university. Local shopping is just 5 mins away from us also so I imagine that young families will be the target which is what I'd like to aim for anyway. An entertainment area is also something I was looking into as I do enjoy gardening + attracting native birdsusing plants.
     
  4. Propertunity

    Propertunity Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    3,476
    Location:
    NSW
    Truth is that landscaping is a low value-add proposition. It may make the property more appealing and therefore easier to sell but there is little difference in sales price between say a house landscaped and one with little landscaping.