Patio area - is it worth ?

[monster24]

We are just building our first IP and I hope it will be finished by end of Jan.'08.

I was thinking if it's worth to build a patio for a backyard outdoor area as it does not have one at the moment ? It would costs a couple of thousands but I am not sure if this is money well spend. It would add value to the property but we want to keep and rent it. I mean tenants would appreciate it either and could attract tenant more easily.

But on the other hand I could use the money for a deposit of another propery instead ...

What would you do?

Thanks for your comments...
Thomas

 

[Celeste]

Hi monster24

I would say definity in Perth as we love outdoor entertaining. I would gather Qld would be the same.

I would think it would increase the amount of people that would rent it.
I would add one.

 

[yo yo ma]

We are doing the same on the Sunshine Coast... With the climate in Qld it is worth the extra money to be spent on an outdoor entertaining area. Speak to some property managers in the area to confirm... I would suspect you will get some extra rent but the real gain from this will come in the capital growth in the property. The quotes I had have been 5-8K extra for average size alfresco (plus flooring). We are also putting ceiling fan over the area... Definitely worth the extra $ now.
Steve

 

[BayView]

Absolutely do it.
it instantly adds more living area, value and appeal.

 

[monster24]

yes, it's in Queensland - so I think we should get some quotes then

thanks for your comments...
Cheers
Thomas

 

[goldengoat]

Hi monster24,

Sounds like a good idea. Before moving to Tas from northside Bris, on what was our PPOR, we replaced a very small covered area (approx 2m x 8m with 15 degree slope on the concrete so you couldn't even put your drink on a v. small table without it spilling) with a covered deck & pergola approx 40m2. The tenants who have been through have all said that having an 'outdoor living area' was of great benefit & also means that if you get smokers they are less likely to do so inside.

If you keep the costs down I'm sure itwould be worth it.

Cheers,
John

 

[dcarr]

Don't know the layout of your IP but the hard outdoor surface often reduces "mud tracks" when people come in and out. Could be worth it for that alone!