Friday, March 08, 2013

It’s the little things that count when building an Investment Property

If you're thinking about building and investment home, rather than buying an existing residence, there are some little things to take into consideration when designing the property from scratch...

1. Technology
These days, it’s all about how we can connect so having data cabling and wireless is a key feature.
It also means you do not have to put in at a later date for a greater cost.

2. Water
Saving water in everyday use and the garden is a key benefit tenants look for as utilities bills soar, so consider rain water tank, grey water use and timers on irrigation systems.

3. Living spaces
The preferred option is to have several shared space areas one that blends indoors to outdoor area and at least one other for social gatherings. If it is family home it definitely needs a second living space.

4. Swimming Pools
The appeal of water is high and the preferred option is a lap pool as they can be used for exercise and fun.

FOR RENT: 21 Gilding Street, Royston Park - $870 p/w (Donna Hughes - 0424 178 804)
5. Air conditioning
In our recent hot weather evaporative air continuing in large homes doesn't cut it. Tenants want well ventilated and air conditioned areas in the entire home not just the living area and or bedrooms.

6. Energy efficiency lighting
With the higher price of electricity n natural light and energy efficiency light fittings are critical. It’s a selling point as lowering electricity bills is appealing especially if you want a higher rent. Also make sure light fittings have easy to change globes and fittings are simple to clean

7. Appliances
It’s still stainless steel but consider functionality as well as aesthetics they can him hard to clean. Put a focal piece in the kitchen i.e. a coffee maker, ice dispensing fridge or a wider cook top. You can also put in lighting that adds a great look to the kitchen. Lighting can change a whole room. Make sure appliances have a long warranty.
FOR RENT: 4/6 King Street, Unley Park - $390 p/w (Jenny Coulls - 0488 136 155)
8. Floors
Durable and easy to care for so this means no cream plush carpets. Hard surfaces such as tiles or floating floors (timber floors can soften and indent easily). Carpets only in the bedroom and go for dark colors.

9. Décor
Keep to neutral tones and go with either white and charcoal or white and brown/beige tones.
Don’t use patterns and feature walls as if you have to repaint this just add extra cost.

FOR RENT: 4/21 Edmund Street, Norwood - $270 p/w (Donna Hughes - 0424 178 804)
10. Windows
Shutters r slim line blinds – Venetians get dusty and curtains fade rip and get dirty quickly.

11. Durability and visual appeal
Always think of durability as well as looks. Also consider replacement of appliances and décor items if they have parts or attachments that can’t easily be fixed as you may look at expensive repairs down the track. There is no point paying a little at the beginning only to pay for it in expensive call outs and parts in the future. Sometimes paying a bit more for a reliable brand is better than going for a lesser known cheaper brand.

FOR RENT: 22 Fortrose Avenue, Seaton - $400 p/w (Kate Fuller - 0410 886 677)

Finally - you’re not going to live in the house, you are not building as your dream home. Think of the widest appeal and most functional use first. Whether you would have it or not is irrelevant, many an investment build has not returned what it should as the investor has gone for high end that a tenant won’t appreciate.

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