Real Estate in Brisbane
The real estate industry is quite a lucrative one wherein there is a great potential for you to earn a hefty sum with the right investment.
09:04 02 October 2020
This entails the need for you to look for the perfect location to buy a property because this is the primary factor that can make or break your investment. In line with this, it is a good idea to look into the real estate industry in Brisbane because it is considered as one of the most promising locations in the whole of Australia.
Average Property Prices in Brisbane
Because of rising confidence, low-interest rates, as well as interstate migration, the real estate industry in Brisbane is looking at a bright future. Forecasts show that over the next couple of years, property prices in the region may rise by almost 8%, and this can lead the price rise charge at a national level. Currently, this rate is the same as the real estate price increase rate in Melbourne, and it only falls behind by a couple of digits to the rate in Sydney. This is a good reason to invest in a property in Queensland capital because there is a great chance for you to earn a positive revenue from it shortly.
As soon as you acquire a property in Brisbane, make sure that you exert the extra effort to preserve its value or even increase it to ensure that your investment will be worth it in the long run. In line with this, below are some of the ways on how you will be able to increase the value of your property.
Have it repainted
One of the ways to increase the value of your property is by splashing a fresh coat of paint on it. This will instantly refresh the look of your home and eventually boost its value. As much as possible, go for neutral colors, which will make it easy for you to design and decorate your interiors later on. However, there is also nothing wrong with having a feature wall that can be the focal point of a room.
Address any issues
Another way to ensure that you maintain the value of your property, or increase it by a big gap, is by promptly addressing any issues that you may find. To ensure that your property is free from damage and infestation, it will help to consider professional building and pest inspections Brisbane locals recommend. Aside from a thorough inspection, they will also provide an accurate and easy-to-read inspection report about your property, making it transparent for you to see which parts of your home need repairs the soonest possible time.
Addressing the issues that you find in your home immediately before it gets worse will decrease the chance of needing a major repair in the future. In this way, you can preserve the value of your home.
Install storage areas
Installing multiple storage areas in your home can also pave the way for its value to increase dramatically. In line with this, you can consider open shelves in your kitchen, bathroom, and laundry. There is also the option for you to add storage spaces in your garage. Even the installation of hooks at the back of your doors can already make a big difference for potential home buyers.
Enhance the interiors
If you have the budget for it, you can consult with a professional interior designer to uplift your indoor space. Otherwise, research about do-it-yourself tips that will instantly transform your interior space. For instance, add some cushions, rugs, and throw pillows to create a softer look or update your lampshades and consider some artwork to create a rustic appeal. The important thing is that your interior space is something that potential homebuyers will be able to consider as livable, comfortable, and aesthetically pleasing.
Perform simple swaps
You don’t necessarily have to undergo major renovations to increase the value of your property because simple swaps may already make a big difference. For example, replacing the cabinet handles in your kitchen or the taps in your bathroom can already invigorate the space instantly because these can serve as accent pieces. If your tiles look old, then try sticking some fresh and vibrant wallpapers that look modern rather than outdated.
Invest in smart appliances
Having smart appliances in your home is a great way of increasing the value of your property. Alongside this, continuously upgrading your home to be a smart home is also a wise move because more and more property investors are looking into homes and commercial buildings integrated with smarts and artificial intelligence-powered by technology. Thus, take some time to install security cameras, too, as well as other appliances running on the internet of things (IoT) concept.
Improve the outdoor area
Your outdoor area equally matters when it comes to the value of your property. For this reason, it is a wise move to improve your outdoor space as well. In this case, you can add some shade and shelter in your backyard, or even a fire pit, which is currently a popular addition. Maximize your outdoor space and make it functional because this will ensure that the price of your property will be on par with the standard property price in the market. In line with this, don’t forget to focus on your curb appeal as well. It is often the case that first impressions are made based on the curb appeal.
If you are keen on investing in the real estate industry, make sure that you are selective of the location where you will buy the property because this can just make or break your investment. Consider acquiring a property in Brisbane as this is one of the most promising locations in Australia where the value of residential houses and commercial buildings are set to rise over the next couple of years. But regardless of which location you eventually choose, the key is in maintaining your property to preserve or even increase in value, guaranteeing you with a positive revenue in the long run.