Whether you’re renovating a kitchen, building a new deck, painting the house, or any other home improvement or addition, you have to weigh up if it’s really worth it. A classic example often cited in the property industry is the addition of a swimming pool to the backyard. While it might be used a lot – at least until the novelty wears off – it might add little value to a home. Many real estate commentators say a pool might not be the big selling point that vendors think it is. Potential home buyers may see it as more of a headache than anything, particularly in terms of the maintenance involved. As we say, you have to weigh up if it’s really worth it.
When it comes to a sleepout cabin or a studio, there should be no such worries. We see it as an addition to a home that will prove its worth now, and into the future. Of course, you’d expect us to say that as specialists in sleepouts and studios. So we thought we’d share some information recently published by a leading New Zealand real estate website.
They were looking at how much value a sleepout or studio might add to the value of a property. They quoted an Auckland real estate agent who suggested the extra space could add between $50,000 to $100,000, depending on the property. Another agent said they had been to an auction where the last two bidders carried on bidding for another $70,000 simply because they desired the home for its extra studio accommodation. Yet another agent was quoted as saying that “if you were going to build the perfect, most saleable home in New Zealand at the moment, it would include a studio because of the “work from home transition” that people are experiencing at the moment.”
You will have your own reasons for wanting to add extra liveable space to your property. For many of you, you’re living in the here and now, and you require an extra room to accommodate your growing family, or you need to base yourself somewhere for work or business. Maybe you want to invest in the future and with land being so expensive these days, we can’t blame you for trying to get as much value out of your land as you can. Whatever your reasons for building a sleepout or a studio, the team at Ecopod believe that you won’t lose out on the deal. There is value to be had now and in the years ahead.