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JUST IN: PROPERTY MAKEOVER IN AUSTRALIA

It’s been proven time and time again that we see property, not as a commodity. That’s because we take our home as a symbol of the Australian Dream. Having a house to call your own is symbolic of your aspirations. It represents hard work, dream fulfillment, and of course, for every one of us, at home. We’re bound to transform it into something that suits the kind of life that we’ve always wanted to live.

So it’s not a surprise that this year, 8.4 million homeowners have invested money renovating their property. That’s a more than half of the 13.6 million homeowners in the country. How much did they spend? The figures are unclear, but what data revealed is that it’s been a significant increase from last year’s 7.5 million homeowners who renovated.

That is reflected in our work, in 2016, 75% of BG Property Styling’s clients from its operations in the Southern Highlands and in the North Shore renovated their properties and stay in it just the same.  Most of them we had prepared their property for sale, then renovated their new purchase. That’s a new trend from the usual trend where clients enlist BG Property Styling’s services with the intention to sell their properties post-renovation.

So what did these homeowners do exactly?

Check this out:

 

The homeowners who undertook renovation projects have the following characteristics:

  • New homeowners have done more redecoration, painting, electrical and plumbing works on their property than their seasoned homeowner counterparts.
  • People who live in a house have made more home improvements than those who live in a unit.

That’s supported by BG Property Styling’s experience, as in 2016, it had more clients who lived in detached dwellings than in strata dwellings.

So what  do these results imply?

BG Property Styling can gather the following insights:

  • More and more homeowners are seeing the invaluable benefits of having their home structurally and cosmetically renovated.
  • More and more property professionals are also slowly introduced to the idea of equity gains, especially for their clients who put their homes on the market, post-renovation.
  • More and more people in the country are inclined to transform their homes either to sell them, rent them out, or to simply stay in them.

 

It’s interesting to see these figures after a full year of coordinating renovation projects. For BG Property Styling’s part, it recognises that not all homeowners are experts when it comes to implementing renovation projects. Our role is to work with homeowners, real estate professionals, suppliers, and services and trades in order to successfully complete a renovation project.

 

So if you’ve been considering adding value to your home, the right time to get started is now. We currently welcome clients from the North Shore and the Southern Highlands. The good news is that everyone can schedule their complimentary, no-obligation phone consultation with us!

You can do on our website or by phone at 9986 0524.

 

Related Property Renovation Articles:

How Property Makeovers Influence Choice

Makeover for Auction

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Data: Roy Morgan Research