We've been busy showing properties to clients lately, and we've noticed a surge of confidence in the Brisbane property market! This time, our client is looking for an investment property, so location, tenant quality, and rental returns are all key considerations.
This time I took the guests to see the Sunnybank Hills This is a detached house in a location that needs no introduction. It is very convenient to drive to anywhere.
Queenslander Feature: How to increase the value of lower-level space?
The reason why this house is worth sharing is that many independent houses in Brisbane are Queenslander The design is that the upper floor is the main living space, while the lower floor is usually a garage and storage room. However, when this type of house was built, the interior height of the lower floor was often Does not meet the legal living standard (2.4 meters), so it cannot be used as a formal bedroom and can only be used for storage or garage purposes.
As housing demand increases, many Queenslander owners choose to increase their property values. Lower floor decoration, converted into additional indoor space, such as adding a kitchen, toilet, or even converting the garage into a room. In this way, the house that was originally only habitable on the upper floor has been transformed into A multifunctional residence with both upper and lower floors, the indoor usable space instantly doubles!
However, due to regulations, real estate agents cannot refer to these additional spaces as "bedrooms" when listing properties. They can only use Multi-Purpose Room (MPR) However, if the tenant wishes to use it as a bedroom, the landlord cannot interfere.
What is the return on investment for this house?
This time we talked to the real estate agent and learned that the owner of this house Invest approximately AUD 150,000, transforming the lower layer into Two bedrooms and one living room, with an additional toilet and laundry roomWe checked the records and found that the owner Purchased in 2022 for $715,000, plus the renovation costs, in just two and a half years, the asking price of this house has risen to AUD 1.1 million, appreciation close to AUD 400,000!
Conclusion: Renovation and renovation help property value increase
There are many ways to increase the value of the property market, and this Queenslander Renovation and Appreciation Method, is one of the strategies worth referring to. Make good use of existing space and increase rental returns, the owner successfully increased the property value significantly in a short period of time!
Would you consider this type of investment strategy? Share your thoughts in the comments below!
Chinese