{"id":5468,"date":"2015-08-24T01:00:54","date_gmt":"2015-08-23T15:00:54","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=5468"},"modified":"2015-08-24T01:00:54","modified_gmt":"2015-08-23T15:00:54","slug":"5-ways-to-boost-property-value","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/5-ways-to-boost-property-value\/","title":{"rendered":"5 ways to boost property value &#8211; Ben Kingsley"},"content":{"rendered":"<p>&nbsp;<br \/>\nIn today&#8217;s show <strong>Ben Kingsley<\/strong>, from Empower Wealth, tells us the 5 things you can do that will add real value to a property.<br \/>\n&nbsp;<\/p>\n<h4>Transcript:<\/h4>\n<p><b>Kevin:<\/b>\u00a0 I asked Ben Kingsley from Empower Wealth to tell me the things that he\u2019s seen in his experience that will add true value to a property. Was it a big mission for you, Ben?<br \/>\n<b>Ben:<\/b>\u00a0 No. I think it was pretty straightforward, Kevin. There\u2019s a lot of common sense, hopefully, in what I\u2019m about to give to you and the listeners.<br \/>\n<b>Kevin:<\/b>\u00a0 Yes. Let\u2019s get into it. What are they?<br \/>\n<b>Ben:<\/b>\u00a0 I think the number one is paint. The easiest and safest bet is to paint it. To get some cosmetic improvement, painting is the first step \u2013 both internal and external painting \u2013 and it\u2019s certainly the cheapest way in which you can get more bang for your buck.<br \/>\n<b>Kevin:<\/b>\u00a0 It certainly freshens everything up, doesn\u2019t it?<br \/>\n<b>Ben:<\/b>\u00a0 It does. Even on the pictures to get inquiries coming in, you can\u2019t see all those little inconsistencies in the property. Basically, the photos come up great, so that gets an audience, and when you get an audience, you have a chance to <b>[0:51 inaudible]<\/b> if you\u2019re looking to sell, but also, from the valuer\u2019s point of view, he\u2019s going to go out and first impressions are always important.<br \/>\n<b>Kevin:<\/b>\u00a0 Yes. Don\u2019t make it anything too garish, either, when you\u2019re picking colors.<br \/>\n<b>Ben:<\/b>\u00a0 No. Go basics. Don\u2019t go your pastels, don\u2019t go your styles. Just keep it to your shades, your whites, your light grays, and those types of things.<br \/>\n<b>Kevin:<\/b>\u00a0 Yes. You can actually bring color in with some of the accessories \u2013 cushions, and so on \u2013 can\u2019t you?<br \/>\n<b>Ben:<\/b>\u00a0 Kevin, you just led me into the second one, which is basically internal cosmetic tidy-up \u2013 things like the floors, the blinds, and those types of things where you can bring a bit of color and a bit of style in. Sometimes, light fittings, but just don\u2019t go over the top.<br \/>\nYou have to remember this is an investment property. We\u2019re going to hold on to it, and then, ultimately, you don\u2019t want to go over the top. But certainly, those types of things where you can bring the cushion covers and those types of things for the first impressions for the tenant when they\u2019re looking to come hopefully let your property.<br \/>\n<b>Kevin:<\/b>\u00a0 Yes, and don\u2019t over-clutter and don\u2019t make it too eclectic, either, I\u2019d imagine.<br \/>\n<b>Ben:<\/b>\u00a0 True. That\u2019s exactly right. It\u2019s keeping it simple, and by over-cluttering, what you\u2019re talking about there is give a sense of space. Even if it\u2019s small, the classic case of when selling agents are trying to impress potential buyers coming through, those smaller second bedrooms sometimes in the unit blocks and, certainly, some of the pokey bedrooms, they\u2019re smart; they put a single bed in there rather than trying to clutter in a double bed or something along those lines. The same principles apply for value-adding.<br \/>\n<b>Kevin:<\/b>\u00a0 Your next one?<br \/>\n<b>Ben:<\/b>\u00a0 Structural. If we are going to spend a little bit of money, always as an absolute minimum rule of thumb, every dollar spent, we want to get a $2 return. But if you\u2019re going to do structural, I have a couple of little tips here. The first one is add a bedroom. At the end of the day, if you have a very large one-bedroom apartment and you can potentially fit a second bedroom in, that\u2019s an additional income generator because you can, obviously, get the rent based on a two-bedder rather than a one-bedder.<br \/>\nIf you can put some stud walls in and get a second bedroom in, that\u2019s always a good one. And even on a house, if you have some large living zones and you can separate those into a bedroom, that\u2019s where you\u2019re going to get that cash flow coming through.<br \/>\nIf you\u2019re looking to do the broader structural stuff, then focus on this. Try to convert the older style properties whereby the kitchen wasn\u2019t a focal point to convert that into an open plane kitchen\/living, and the latest move and trend is having that indoor\/outdoor alfresco space.<br \/>\nIf you\u2019re going to put some of that structural stuff in place, don\u2019t overcapitalize, but make sure that if you are going to do it, it\u2019s all about adding space and openness, and open plan, and having that sort of kitchen as part of that conversation space.<br \/>\n<b>Kevin:<\/b>\u00a0 Yes. That\u2019s the new way to live, isn\u2019t it? In those great indoor\/outdoor areas. What else have you got for us?<br \/>\n<b>Ben:<\/b>\u00a0 Yes. The fourth one there is external appeal \u2013 in terms of first impressions, again, are really important. Things like when you\u2019ve got busy gardens and cluttered gardens and overgrown lawns, it\u2019s all about reducing clutter. Keep the lawns mowed.<br \/>\nOne of the best ways you can add value is some of the local councils have free mulching that you can go and pick up. Go and throw that on the garden beds. This doesn\u2019t cost you anything other than your time to go and get a load of woodchips, and then throw them down on the garden beds.<br \/>\nAgain, paint fences and keep the exterior of the building looking really presentable at that most important time, whether it\u2019s when you\u2019re getting it valued or whether you\u2019re bringing it up for re-let.<br \/>\n<b>Kevin:<\/b>\u00a0 Finally?<br \/>\n<b>Ben:<\/b>\u00a0 Finally, the big one, subdivision. Even though this might not relate to the actual property itself, if you want to pick up an equity harvest, you may have a significant block of land, you may have existing dwelling where there\u2019s a three-meter clearance between the dwelling and the fence line, and a large backyard. Well, a battle-axe<b> <\/b>subdivision is certainly going to be one of the best ways to add value to your investment portfolio, whether you decide to sell that block off or put a second dwelling on that to increase your cash flows. All of those, it\u2019s a larger investment, but it\u2019s a big one. That final one was equity harvest.<br \/>\n<b>Kevin:<\/b>\u00a0 A wealth of experience coming through, Ben. Thank you so much for your time. Ben Kingsley from Empower Wealth with his five things that you can do to add true value to a property.<br \/>\nBen, thanks again for your time.<br \/>\n<b>Ben:<\/b>\u00a0 Absolute pleasure, Kevin. Thank you.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; In today&#8217;s show Ben Kingsley, from Empower Wealth, tells us the 5 things you can do that will add real value to a property. &nbsp; Transcript: Kevin:\u00a0 I asked Ben Kingsley from Empower Wealth to tell me the things that he\u2019s seen in his&#8230;<\/p>\n","protected":false},"author":176692471,"featured_media":4493,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[10,13,36,17,21,23,25],"tags":[101],"class_list":["post-5468","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-kevin-turner-sponsored-channels","category-latest-story","category-property-investment-topic","category-property-investment","category-renovation-topic","category-selling-a-property-topic","category-sponsored-channels","tag-podcast"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>5 ways to boost property value - Ben Kingsley - 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\/5-ways-to-boost-property-value\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"5 ways to boost property value - Ben Kingsley - Realty Talk\" \/>\n<meta property=\"og:description\" content=\"&nbsp; In today&#8217;s show Ben Kingsley, from Empower Wealth, tells us the 5 things you can do that will add real value to a property. &nbsp; Transcript: Kevin:\u00a0 I asked Ben Kingsley from Empower Wealth to tell me the things that he\u2019s seen in his...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/channels.realty.com.au\/realtytalk\/5-ways-to-boost-property-value\/\" \/>\n<meta property=\"og:site_name\" content=\"Realty Talk\" \/>\n<meta property=\"article:published_time\" content=\"2015-08-23T15:00:54+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=\"6 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\\\/5-ways-to-boost-property-value\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/5-ways-to-boost-property-value\\\/\"},\"author\":{\"name\":\"rolanrush\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/#\\\/schema\\\/person\\\/384a57ac9e52cb9bf19896cb15eaa52d\"},\"headline\":\"5 ways to boost property value &#8211; 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