What adds value to a property?

[BinaryLimited]

Hi All

A question since the dawn of property...
What adds value to a property? Construction (rooms, addons) and Materialistic (stoves, carpets etc).

No one can seem to give me a confident answer

[Wayne]

Depends on who you are marketing to.
Nice kitchen for a homeowner or more bedrooms for an investor.

[Nick G]

Materialistic items can increase the sale price as Wayne said, however those items keep needing to be replaced so do they improve the true value of the property?

From an investment perspective, increasing cashflow or land values are two sure fits. Land values are usually out of your control over time however when you buy you can be strategic about location.

[RHarris]

Could also depend on the area, site too. So many variables to have a definitive answer.

[Wayne]

Materialistic items can increase the sale price as Wayne said, however those items keep needing to be replaced so do they improve the true value of the property?

I must say I was thinking 'increase value to sell' otherwise it comes down to what increases the value to you.
If a PPOR then that would be things that make it more livable - decks maybe, garden to smell the roses, home theatre etc. Whatever is of value to you.
For an investment property it would be anything that increases the return - tidy-up to get better tenants, more rooms etc.

This is why you won't get a 'confident answer'.
Also don't forget not to over capitalise for the area.

[Andrew1701]

The key word to adding value to a house is IMPROVEMENT.

Improve the house...value goes up. Just be clear to let your valuer know all the improvements you have made.
Don't over capitalise! stick to basics and focus on rooms like bathrooms and kitchens