Not wanting to overcapitalise, the Landon’s were careful to do their homework.
“Some suburbs have a ceiling on what a home is worth and we were acutely aware of that when looking at recent sales data for the suburb of Everton Park,” Sam explains. “We didn’t want to fall into the trap of spending too much, then having a home that didn’t stack up compared to other homes in the suburb, if something unforeseen happened and we had to sell. Consequently, we scaled back a lot of items in the build.”
To do your pre-renovation research Sam recommends you check with an agent you trust to give you honest advice on recent sales in your suburb.
“Websites such as Realestate.com.au are a good source of basic information but there are many factors that influence values. For example, the price of a house can be impacted by its location within a particular suburb. As agents we go into so many homes a week doing appraisals and giving advice on renovations that an owner may want to do before a sale.”