The real estate section of one of Melbourne’s biggest papers had a lead article about future proofing your homes for value later… Not only did they use the expertise of a Sydney agent rather than a Melbourne one, but the catch appeared that we were going to be told what house features we should look for now that would boost property values a decade later. To me, I was expecting to hear about some fantastic whiz bang trends, much like when electric blinds came in, water tanks, solar panels and the like, but instead i got a comedy sketch….
The Sydney agent said we should look for homes that have a “scope for technology upgrade” but doesn’t every property come with scope? Apparently “doubters only had to look back 10 years to appreciate how much technology adds value to our homes” “hardly any homes had internet connection in 2002 and now virtually every home has access” I’m sorry but that has nothing to do with the home, and has everything to do with what Telstra, Optus, Interernode and the likes are doing in your local areas.
Both agents written up in the article then went on to give some more detailed analysis as to what someone should look for in a property, the Sydney agent suggested a balcony in which we could put “planter boxes on” or a sunroom that could be converted into a study – what the??? The other agent recommended plunge pools…. hmmmm, need I say more?
The only person written up in the article that seemed to know what he was talking about was the architect who suggested “smart wiring & integrated homes systems for home security” he also recommended “anything that can reduce energy consumption and increase thermal benefits” Whilst these suggestions are great they are really only useful if you are building a new home or renovating an existing one and yes, they would be well worth the investment if you are heading down that path, but my experience tells me that if you buy a good home in a well established suburb no one will give a dam if you future proofed it in the first place… what you do now will be outdated in 10 years time anyway, you are not sitting on a bad investment if you don’t have surround sound, integrated security or a plunge pool! At the end of the day it’s all about the bricks and mortar and the location they are sitting in, think in the now and don’t over capitalise.