Hi all Im building a house in the innerwest (Sydney) for the purposes of re-selling or renting out upon completion. In terms of maximising the return, what kind of finishes do you think people will pay more premium for: Flooring: Timber floor vs polished concrete vs tiles? (side note: i hate carpet, but does putting carpet in say the bedrooms only appeal to the upper market?) Building width (narrow 6.1m block) - better to build boundary to boundary (and leave out a side access to the backyard to maximise internal space), or do people want a side access to the backyard? Modern facade vs more traditional victorian-esque facade I've noticed that homes that sell at a higher price point with similar property attributes (land size, building size, level of finishes etc) in the same areas have a modern facade, whereas homes with the more traditional design tend to sell approx 15-20% lower. Naturally this might be explained by these homes being simple renovations rather than a KDRB, but what would you choose if you wanted to appeal to the upper end of the market buying in the inner west?
I'm actually in the process of doing this. Early days. Basically I'd look for the best sales in the area and build according to those specs that the demographic are willing to pay for. You'd also want to talk to a few agents about end stock to get their feedback. Then combine feedback with actual sales to determine what to build, as cost effectively as you possibly can. Hope you update us on your project. Following with interest .
Being 6m wide is like a terrace style area? Does it have a rear garage access off a rear laneway. If it does have rear access then I would certainly build boundary to boundary as you can access the rear garden for maintenance via the rear garage/access. I personally hate carpet but in all spec homes and IPs I do put carpet in the bedrooms because it is generally accepted. I would generally lean to timber floors + carpet
Timber Floor is definitely your safest option. All my high end projects are engineered oak and this definitely appeals to all clients. Boundary to Boundary at that width if you can. I don't know Sydney's west as well. I wouldn't do a 'faux' victorian facade as that there is not value in it. It's not the same as a victorian that has been renovated/extended. Young money likes modern and even some old money likes modern in my experience. It's about using a consultant that doesn't lean too much into some tacky modern details.
