Covered Terrace to Alfresco

Discussion in 'Renovation & Home Improvement' started by Nabsinna, 10th Mar, 2021.

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  1. Nabsinna

    Nabsinna Active Member

    Joined:
    17th Oct, 2020
    Posts:
    31
    Location:
    Melbourne
    Hi Hive,

    In the process of finalising a a few amendments for land I bought with council approved permit for knock down and rebuild 2 townhouses.

    The main aim is buy and hold and rent out for at least 15 years and to refinance and take the money out post build.

    I have a covered Terrace with translucent roof for both units but was thinking of adding a alfresco instead.

    Pros
    - Better looking
    - flows with the house
    - true outdoor/indoor all season usable area.
    - will truly optimize the space for the 230sqm and 210 sqm townhouses

    Cons
    - Cost- not sure how much more
    - Might add value at time of sale based on purchaser
    - but unclear if the bank will increase its valuation based on the addition of the alfresco
    - Will reduce the natural light to the dinning and living room

    What peoples opinion on this? Yay or Nay
     
  2. Pumpkin

    Pumpkin Well-Known Member

    Joined:
    26th Jun, 2015
    Posts:
    1,080
    Location:
    Brisbane
    If it's meant for rental for 15-years, I won't spend too much money now, unless this is common around the area.