Hi guys,
I am building my first house through Burbank in Wallan, Victoria
I am playing with the idea of adding an alfresco area to the contract, for roughly $10,000
the alfresco area is 4.1m X 5.6m to the rear of the house
now, im wondering, if this will add more value to my house than the initial $10,000 to build?
what do you guys think?
the house will be my PPOR for a few years, but after that it will become an IP
so i guess it will be more appealing to tenants, and can charge more rent with it?
my current house & land has been valued by valuers (by the bank) at $300,000, do you think with the alfresco area it will be valued at $310,000 so alfresco just covers itself?
or will it give me more equity because the new value of my house will come in at $320,000 or somthing?
i have no idea so appreciate any comments positive or negative.
thanks
josh
I am building my first house through Burbank in Wallan, Victoria
I am playing with the idea of adding an alfresco area to the contract, for roughly $10,000
the alfresco area is 4.1m X 5.6m to the rear of the house
now, im wondering, if this will add more value to my house than the initial $10,000 to build?
what do you guys think?
the house will be my PPOR for a few years, but after that it will become an IP
so i guess it will be more appealing to tenants, and can charge more rent with it?
my current house & land has been valued by valuers (by the bank) at $300,000, do you think with the alfresco area it will be valued at $310,000 so alfresco just covers itself?
or will it give me more equity because the new value of my house will come in at $320,000 or somthing?
i have no idea so appreciate any comments positive or negative.
thanks
josh