The amazing metropolis of Sydney is not only the state capital of New South Wales, but it is also the entire continent’s home renovation capital, as well.
Even after the small dip with regard to residential housing prices during the past 12 months, Sydney is still ranked among the top twenty cities on Earth with the highest median home value – a figure that unfailingly tops $850,000 each and every year.
Remodelling a property in and around Sydney is an ultra-lucrative investment that eclipses nearly every other speculative allocation at your disposal – smart money usually finds its way back into the home. As a matter of fact, a recent probe of homeownership in Sydney found that seven out of every ten householders would rather spend $20,000 on a domestic refit than fritter it away on a transnational trip or new-age electric car.
Demarcating the Present and Future of Home Improvement
The term per capita basically means, “for each person,” which is why canvassers tend to use this expression to accurately portray demographic data. With this idea in mind, you might like to know that Australia spends more than $1,200 per capita on home makeovers each year, and analysts foresee that this statistic will surmount $1,500 within the next 12 years.
However, we have to investigate beyond the per capita indicator and go behind the scenes to truly appreciate the veracity of home renovations in Sydney and Australia in general:
- Annual domestic spending on home projects has surged by a factor of 2.5 since 2010, which likely has something to do with the fact that 2010 marked a momentous rise in television ratings for fix-it-up programs and property restoration shows.
- Roughly 45 percent of homeowners in Sydney plan to devote at least $4,000 to repairs and improvements, but it’s worth noting that high-dollar investments are also on the upswing. The summative number of homeowners in NSW that are planning to spend at least $30,000 on revamps has doubled over the past year according to LightStream’s most recent survey.
- The overwhelming majority of makeover applications – 67 percent to be exact – involve a reformation of the kitchen or main lavatory, but a considerable fraction of these undertakings also entail a square area enlargement by way of an extension or bump out.
- The average duration of even the most extensive projects – such as a first-story expansion, for instance – has been cut in half over the past two decades, which means that homeowners can go from concept to completion in a much more condensed period of time.
If you’d like to transfer some of your wealth back into the skeleton of your property, your first move should be to get in touch with a crew of designers and builders that concentrate exclusively on high-end home renovations in Sydney.
Preparing For Your Consultation
Before you welcome your construction partner into your home, be sure to gather your thoughts and take the following steps:
- Visit the webpage of an accredited renovation firm and download their toll-free guide, which will help you avoid typical mistakes and oversights.
- Read through the guide and write down all of your concerns and misgivings.
- Work with your family to settle on a reasonable financial ceiling for the project.
- Go back to the website, press the contact key, and fill out all of the boxes to request your complimentary onsite or offsite consultation.
Even if you don’t think you’re quite ready to negotiate an extension or interior remodel, it never hurts to get the facts and obtain a precise price quotation.