{"id":10106,"date":"2016-12-11T10:00:54","date_gmt":"2016-12-10T23:00:54","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=10106"},"modified":"2016-12-11T10:00:54","modified_gmt":"2016-12-10T23:00:54","slug":"what-really-adds-value-to-a-property-gavin-hulcombe","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/what-really-adds-value-to-a-property-gavin-hulcombe\/","title":{"rendered":"What really adds value to a property? &#8211; Gavin Hulcombe"},"content":{"rendered":"<p>&nbsp;<br \/>\nProperty valuer <strong>Gavin Hulcombe<\/strong> tells us what he thinks adds value to a property and what doesn\u2019t. Great advice if you are looking to renovate with a view to adding value ready for re-sale.<br \/>\n&nbsp;<\/p>\n<h4><strong>Transcript:<\/strong><\/h4>\n<p><b>Kevin<\/b>:\u00a0 I often wonder with property whether or not there are any improvements you can add to a property that would always add value, and which, in fact, are the ones that don\u2019t add value. I\u2019ve spoken to a lot of investors who believe putting in a pool is going to add a lot of value, maybe adding another bedroom might do just that.<br \/>\nLet\u2019s try and find out from a valuer what he believes does actually give you extra bang for your buck when you\u2019re doing renovations.<br \/>\nGavin Hulcombe is the chairman of Herron Todd White Trading and also Queensland managing director for Herron Todd White.<br \/>\nGavin, thanks for your time.<br \/>\n<b>Gavin<\/b>:\u00a0 Morning.<br \/>\n<b>Kevin<\/b>:\u00a0 Gavin, in your experience, are there any areas of a property that will always add value?<br \/>\n<b>Gavin<\/b>:\u00a0 I think I\u2019m always a bit cautious about saying always, but I think there are areas where you have the best potential for adding value. I think if you start focusing on the kitchens, the bathrooms, outdoor living areas, that\u2019s what really draws a lot of the lifestyle decisions that people make.<br \/>\nThat\u2019s what they see as being most important, so I think if you do it right and if you do it well and you don\u2019t get too carried away in terms of over-capitalization, I think they\u2019re the areas that I\u2019d be concentrating on.<br \/>\n<b>Kevin<\/b>:\u00a0 Are there some areas that are purely there for lifestyle that probably won\u2019t add any value? I\u2019m citing here pools as an example.<br \/>\n<b>Gavin<\/b>:\u00a0 Of course, that\u2019s always the first one that comes to mind. That\u2019s a lifestyle decision not a financial decision in most cases. They look great, they\u2019re great in the summers and those sort of things, but it is really a lifestyle decision; it\u2019s not a financial decision.<br \/>\nAs a general rule of thumb, you would like to get about half your money back on a pool, depending on where it is. Tennis courts can be a bit the same, albeit you don\u2019t fit tennis courts on most suburban blocks. Yes, there are a few things like that, which are really about improving the livability rather than adding value.<br \/>\n<b>Kevin<\/b>:\u00a0 What about things like double garages or even adding a bedroom to a property?<br \/>\n<b>Gavin<\/b>:\u00a0 Look, it\u2019s one of these things that is a bit difficult to generalize. Certainly, the second garage is really important, particularly if it\u2019s a family area and the expectation is that you want to be able to garage two cars. Then yes, in those areas, the second garage is really important.<br \/>\nThere are other areas where lifestyles are changing. People are saying, \u201cWell, actually I don\u2019t need a car.\u201d If you\u2019re living near city locations and everything\u2019s within walking distance or there\u2019s good public transport, then the second car is less important. Again, you probably just have to do your research and understand the local drivers of the market, rather than getting caught up in generalizations.<br \/>\nBedrooms, they\u2019re often expensive. Any additions like that often will cost you more on a rate per square meter than what you could buy the original property for. But I think one of the things to really take into account is the cost of selling the house and buying another house verses adding additional rooms or extensions.<br \/>\nOn a $500,000 house, the transfer costs alone are something like 7.5% of that, so it\u2019s a substantial cost that you lose just by selling a property and buying another one. Sometimes if you step back and say actually, if you reinvest that money into an extension or modifications, you actually end up better off rather than selling and buying again.<br \/>\n<b>Kevin<\/b>:\u00a0 I think you make a very good point there, too, and that is looking at some of the additions you can make to a property. It probably depends on its location. As an example, an outdoor living area is probably going to be more attractive in, say, a Queensland market as opposed to a Victorian market or an area where it\u2019s a lot colder. Would that be true?<br \/>\n<b>Gavin<\/b>:\u00a0 Absolutely. And even aspect \u2013 if it\u2019s a northeast aspect where you\u2019re adding your living area, then that becomes very livable. If it\u2019s direct west facing or it has no outlook, then the added value is perhaps limited.<br \/>\nYes, it is the specifics, but as you say, quite rightly, if this is an area where it really does facilitate outdoor living, ala Queensland, then that\u2019s where people want to be, and certainly, they will pay more for it there then somewhere where you\u2019re exposed to the elements and it\u2019s just not a very pleasant environment to sit.<br \/>\n<b>Kevin<\/b>:\u00a0 Gavin, thank you so much for your time. It\u2019s been great talking to you.<br \/>\n<b>Gavin<\/b>:\u00a0 You\u2019re welcome. Thank you.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; Property valuer Gavin Hulcombe tells us what he thinks adds value to a property and what doesn\u2019t. Great advice if you are looking to renovate with a view to adding value ready for re-sale. &nbsp; Transcript: Kevin:\u00a0 I often wonder with property whether or&#8230;<\/p>\n","protected":false},"author":176692471,"featured_media":9328,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[34,10,11,13,17,21,22,25],"tags":[101],"class_list":["post-10106","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-topic","category-kevin-turner-sponsored-channels","category-kevin-update","category-latest-story","category-property-investment","category-renovation-topic","category-research-topic","category-sponsored-channels","tag-podcast"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>What really adds value to a property? - Gavin Hulcombe - Realty Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/channels.realty.com.au\/realtytalk\/what-really-adds-value-to-a-property-gavin-hulcombe\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What really adds value to a property? - Gavin Hulcombe - Realty Talk\" \/>\n<meta property=\"og:description\" content=\"&nbsp; Property valuer Gavin Hulcombe tells us what he thinks adds value to a property and what doesn\u2019t. Great advice if you are looking to renovate with a view to adding value ready for re-sale. &nbsp; Transcript: Kevin:\u00a0 I often wonder with property whether or...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/channels.realty.com.au\/realtytalk\/what-really-adds-value-to-a-property-gavin-hulcombe\/\" \/>\n<meta property=\"og:site_name\" content=\"Realty Talk\" \/>\n<meta property=\"article:published_time\" content=\"2016-12-10T23:00:54+00:00\" \/>\n<meta name=\"author\" content=\"rolanrush\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"rolanrush\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/what-really-adds-value-to-a-property-gavin-hulcombe\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/what-really-adds-value-to-a-property-gavin-hulcombe\\\/\"},\"author\":{\"name\":\"rolanrush\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/#\\\/schema\\\/person\\\/384a57ac9e52cb9bf19896cb15eaa52d\"},\"headline\":\"What really adds value to a property? &#8211; Gavin Hulcombe\",\"datePublished\":\"2016-12-10T23:00:54+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/what-really-adds-value-to-a-property-gavin-hulcombe\\\/\"},\"wordCount\":876,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/what-really-adds-value-to-a-property-gavin-hulcombe\\\/#primaryimage\"},\"thumbnailUrl\":\"\",\"keywords\":[\"podcast\"],\"articleSection\":[\"Finance\",\"Kevin Turner\",\"Kevin's Update\",\"Latest Stories\",\"Property Investment Topics\",\"Renovation\",\"Research\",\"Sponsored Channels\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/what-really-adds-value-to-a-property-gavin-hulcombe\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/what-really-adds-value-to-a-property-gavin-hulcombe\\\/\",\"url\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/what-really-adds-value-to-a-property-gavin-hulcombe\\\/\",\"name\":\"What really adds value to a property? - Gavin Hulcombe - Realty Talk\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/what-really-adds-value-to-a-property-gavin-hulcombe\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/what-really-adds-value-to-a-property-gavin-hulcombe\\\/#primaryimage\"},\"thumbnailUrl\":\"\",\"datePublished\":\"2016-12-10T23:00:54+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/#\\\/schema\\\/person\\\/384a57ac9e52cb9bf19896cb15eaa52d\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/what-really-adds-value-to-a-property-gavin-hulcombe\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/what-really-adds-value-to-a-property-gavin-hulcombe\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/what-really-adds-value-to-a-property-gavin-hulcombe\\\/#primaryimage\",\"url\":\"\",\"contentUrl\":\"\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/what-really-adds-value-to-a-property-gavin-hulcombe\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"What really adds value to a property? &#8211; Gavin Hulcombe\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/#website\",\"url\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/\",\"name\":\"Realty Talk\",\"description\":\"Your Trusted Voice For Property Investing. 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