Can renovating for your hobby add value to your property?
Wed November 22, 2017
We've talked a lot on the Laing+Simmons blog about how the right renovation can add value to a property. From installing a swimming pool to better parking solutions, there are so many fantastic ways to take a home to the next level and make it a better place for you to live, as well as a better investment when it comes time to sell. The challenge however, is how to strike the right balance between what works for you, and what will appeal to your home's prospective buyers. You might love the idea of having a darkroom to develop photography, but how many people will really share that passion?
Fortunately, it's more than possible to strike the right balance between a renovation that suits your interests and one that will add true value to your property. So, lets explore what will help your hobby room benefit your sale price as much as an extra bedroom.
A classic example of a hobby room that adds value to a property is the humble 'man cave,' or its sister, the 'femme den.'
What makes a great hobby room
In today's property landscape, a classic example of a hobby room that adds value to a property is the humble 'man cave,' or its sister, the 'femme den.' Over recent years, these parts of the home have become more and more desirable, with Canstar specifically listing the former as a desirable renovation that can attract buyers:
"If ever there was a modern selling point for a home it's the 'man cave.' Turn that damp draughty garage into something that a man would aspire to spend many an hour tinkering in."
The question then, is what makes these rooms so desirable? In a word, the answer is versatility, with man caves and femme dens easily rearranged to suit the needs of their occupant, regardless of their interests. The same can't be said for more specialised rooms, be they for photography development, music practice or any other hobby that requires specialist equipment and a particular fit-out. Having a dedicated space to chill out and enjoy whatever activity makes you happy is a great addition to any property, and these rooms are accordingly becoming more and more common.
Even so, these rooms are still rare enough that walking into one will certainly stick in the memory - particularly after days, weeks or even months of viewing properties across Sydney. This can be a powerful tool when it comes to making a decision on which property they decide to bid on or pursue.
Are man caves the only option?
While man caves and femme dens are some of the more popular options for hobby rooms, they're far from the only options that can help you reach a higher price at auction. The trick is to choose something that will appeal to all sorts of different buyers. A great example is a home theatre, with a high-quality sound system and a nice big screen for watching movies and entertaining friends and family. Or, if you're more of a reader, turning a sunny room into a library with bookshelves and comfortable chairs will work just as well.
These renovations are ones that you can really enjoy.
These types of rooms appeal to all of us, making the home a slightly more interesting place than the standard bedroom, bathroom, kitchen and lounge. Best of all, these renovations are ones that you can really enjoy, so even if you're not planning on selling anytime soon, you'll be able to make the most of your investment.
For more information on all things real estate, as well as how to make the most of your property, contact the Laing+Simmons team today.