how much does a deck add

[RightValue]

Pa1nter said to me recently that a new paint job (a good one) will add substantial value to a house.

Get him to prove it.

I remember hearing an advertisment on the radio a few years ago... put in a new garage door, add up to $10,000 to the value of your house.

Have you ever heard of someone selling some form of home improvement who does not claim it adds value?

It can add a bit, but if the house still has the original 1960 bathroom and kitchen, well it will not add all that much. It certainly helps saleability.

Once again a lot depends on the added value of the improvements to the overall value of the property. If the property with a 1960 original house is worth $800k and someone is likely to bulldoze it and build their dream home, well paint the place and ask $20k more than the other unpainted house down the road on the same land and watch the purchaser buy that one.

Also painting walls is something that people consider doing to get the colour scheme that they want that goes with their furniture etc.
Ever moved into a house you have bought that has been cleaned by the previous owner and then have your missus insist on cleaning the place to her standard?

However renovate the bathroom and kitchen and don't paint the wallls, well you will loose more value than the cost of paint job.

 

[wylie]

I suppose I am asking what if you have two houses the same, side by side, both finished nicely inside, but one needs painting, or is painted hideous colours.

Would you value them differently, and if so, would the value be different only by the value of the cost to paint the one that needs it.

I'm thinking of one of our IPs, which is in a street with at least six 1930s queenslanders built (guessing) by the same builder. So our IP is exactly the same as the one next door. All things being equal, I wouldn't think a valuer would put much more value on the house that is painted nicely.

I think a buyer might place more value on it, but valuers aren't fooled by easily changed cosmetic things, at least not in my experience of valuers. They want to measure the building, count the bedrooms, bathrooms etc.

(If I was selling, I would definitely paint it and make it the best it could be, but a valuer sees through that stuff, doesn't he?)

 

[RightValue]

I suppose I am asking what if you have two houses the same, side by side, both finished nicely inside, but one needs painting, or is painted hideous colours.

Would you value them differently, and if so, would the value be different only by the value of the cost to paint the one that needs it.

I'm thinking of one of our IPs, which is in a street with at least six 1930s queenslanders built (guessing) by the same builder. So our IP is exactly the same as the one next door. All things being equal, I wouldn't think a valuer would put much more value on the house that is painted nicely.

I think a buyer might place more value on it, but valuers aren't fooled by easily changed cosmetic things, at least not in my experience of valuers. They want to measure the building, count the bedrooms, bathrooms etc.

(If I was selling, I would definitely paint it and make it the best it could be, but a valuer sees through that stuff, doesn't he?)

You are looking to buy your next IP in an area of high demand and low supply of rental properties.

Two near identical properties are for sale. One has been repainted, but your wife doesn't really like the colours. The other was las repainted 9 years ago, neutral colours.

How much more are you going to pay for the one that has been freshly painted?

Think like this and you answer your own questions.


My opinion as a valuer is thus. Yeah, a paint job, nice, cost about $3,500, I value to the $5,000 increments, it is possible it might add $5k, depending if I round up or down.

For most properties you should be more worried if I value your land at $1350/sqm or $1500/sqm, it makes a lot more of an impact on your valuation.

People here seem to focus too much on the minor increments to value in many properties, minor improvement to the improvements when the majority of the value is in the land.

 

[wylie]

Thanks. I didn't think a paint job would make any more value to a house than the cost of the paint job, but I do believe that a good paint job could make or break a sale.

I do know of a sale that fell over due to the building inspector telling the purchasers that there are no ant caps. We bought that house and added ant caps. Cost us less than $50 but the buyer before us wasn't going to risk that there could be white ants already in the house due to the lack of ant caps.

I also know houses where a purchaser has decided against buying because the trim colour (so easy and cheap to change) was not to their liking.

I just think value to a potential purchaser and value to a valuer are very different things, and it seems you are saying the same thing. I remember trying to tell a valuer once what we had done since the last valuation as we really needed an increase in the value to get hold of some more funds, but he wasn't interested in hearing it. He just wanted to measure the house, count the rooms etc and ask local agents for comparable recent sales.

 

[Dazz]

For most properties you should be more worried if I value your land at $1350/sqm or $1500/sqm, it makes a lot more of an impact on your valuation.

Agreed.

People here seem to focus too much on the minor increments to value in many properties, minor improvement to the improvements when the majority of the value is in the land.

Not everyone RV. I always have my eye firmly on the land component.


To the OP....new deck ?? Forget it. It ain't worth a cracker. Merbau or no merbau, it still ain't worth a cracker.

A valuer doing a desktop valuation won't see it.

A valuer doing a kerbside valuation won't see it.

By putting in the deck you've made the property "nicer", not more valuable.

 

[gecho1]

maybe not

Agreed.




Not everyone RV. I always have my eye firmly on the land component.


To the OP....new deck ?? Forget it. It ain't worth a cracker. Merbau or no merbau, it still ain't worth a cracker.

A valuer doing a desktop valuation won't see it.

A valuer doing a kerbside valuation won't see it.

By putting in the deck you've made the property "nicer", not more valuable.

Maybe not/
I think it really depends on location though.
A new deck in Melbourne is as practical as "Boobs on the proverbial Bull"

However, if you had 2 identical houses in Queensland or Northern NSW, and 1 had a deck, and the other didn't, i know which one will see more punters wanting to rent/own the house with a deck.

Every house we have ever lived in from Brisbane to Cairns, had a deck enabling us to enjoy the outdoor lifestyle.
After all, isnt that exactly the reason all you southerners either move up, or holiday up this way??

 

[Dazz]

A new deck in Melbourne is as practical as "Boobs on the proverbial Bull"

Exactly....and that's what the OP was asking about.

However, if you had 2 identical houses in Queensland or Northern NSW, and 1 had a deck, and the other didn't, i know which one will see more punters wanting to rent/own the house with a deck.

Uh-huh. And if you had two Mongolian yaks, one would run faster than the other.....which is about as relevant as your 'however' sidetrack up to Qld.

 

[gecho1]

Exactly....and that's what the OP was asking about.





Uh-huh. And if you had two Mongolian yaks, one would run faster than the other.....which is about as relevant as your 'however' sidetrack up to Qld.

OH, my mistake,
I thought the original question was about a deck adding value to a property.
Just that some people view "Value" In a purely monetary way.
Others prefer Yaks i guess!
My mistake!

 

[wylie]

However, if you had 2 identical houses in Queensland or Northern NSW, and 1 had a deck, and the other didn't, i know which one will see more punters wanting to rent/own the house with a deck.

Every house we have ever lived in from Brisbane to Cairns, had a deck enabling us to enjoy the outdoor lifestyle.
After all, isnt that exactly the reason all you southerners either move up, or holiday up this way??

We have lost potential renters entirely due to lack of a deck on several occasions. We add decks when we can and, like adding dishwashers, air-conditiong etc, each time we enhance the desirability of the house to potential renters (and increase the rent we can ask).

Whilst the OP mentions Melbourne, and gecko's reply (and mine) refer to Queensland, surely this helps others who are reading?

Anyway, since when did any thread stay on track .

 

[gecho1]

Cheers Wylie

We have lost potential renters entirely due to lack of a deck on several occasions. We add decks when we can and, like adding dishwashers, air-conditiong etc, each time we enhance the desirability of the house to potential renters (and increase the rent we can ask).

Whilst the OP mentions Melbourne, and gecko's reply (and mine) refer to Queensland, surely this helps others who are reading?

Anyway, since when did any thread stay on track .

Cheers Wylie.
Always thought that this forum was just about that- information!

 

[gecho1]

Additions of bedrooms, bathrooms and fully enclosed garages add value in my opinion. As Lizzie said, your deck could very well add to the 'desirablity' of your property, but probably not much else.

Again, it depends where it is located too-
As he is in Melb, probably wont add much.
But a deck in Brisbane, is another story!

 

[Sunfish]

hi, recently built a 30sqm deck which is running off the main living room of my ppor.
its merbau with all merbau posts, looks very professional
what sort of value would this add do you think?
median for the suburb is about 450k, if that matters

Get real. It is your PPOR. You build it if adds to your lifestyle, if not, you don't. Don't complicate life.

ps Your house is not an ATM.