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Practicality rules enjoyment when it comes to renovations according to new data from realestate.com.au that shows more than 25% of Australians would opt to add a bedroom to their home if money was no object.
Adding a swimming pool came in second (21%) on renovation wish-lists, ahead of other practical options such as adding an outdoor dining area (20%), adding off-street parking (5%) or adding an ensuite bathroom (7.5%).
Property experts generally agree that the more bedrooms in a home, the higher the property’s value.
“Generally speaking, the more bedrooms in a home would signal a larger home on a larger block, and value is held in the land component,” said Professionals CEO, Ted Piteo.
“Also, from an investment perspective, more bedrooms tend to signal that the property could attract a higher weekly rent, increasing the perceived value in the home.”
In terms of swimming pools, Mr Piteo pointed out that a family considering staying in their home for a considerable length of time could weigh up the benefits of adding a swimming pool over many years.
“If you have pre-teenagers, and teenagers, they will be happy at home with a pool, inviting their friends to pool parties etc, and this can well save parents in the long run with ferrying children around town, or to the beach, or paying for cinema tickets or other entertainment options.”