Real estate has been the goose that lays golden eggs for many years in Sydney, but you could be forgiven for thinking those eggs now seem to be losing their lustre. Property data and analytics group CoreLogic have been reporting an overall fall in Sydney home prices since September last year, while the controversial WestConnex project has added to the woes of homeowners in Haberfield and St Peters – the Inner West suburbs most affected by the major road infrastructure shake-up – where house prices fell by more than 17 per cent and 9 per cent respectively in the last half of 2017.
“We’re doomed!” you may cry if you’ve recently bought a house in Sydney, but all is not lost. One of the primary principles of real estate is that if there’s a downturn in the market, patience is a virtue. And while you’re waiting for home prices to recover, use your time – and money – wisely by increasing the value of your investment with home improvements such as renovation.
Here at Design Plus Drafting we can help you out with whatever type of building plans and CAD drawing you need, for anything from minor makeovers to architectural design. Home renovation can mean boosting street appeal with a schmick new front fence or garden wall; updating the interior layout to create modern open-plan living areas; house extensions, additions and loft conversions to expand your usable space by building out or up; or even building a ‘granny flat’ or secondary dwelling to create extra value and potential rental income.
Chances are all these improvements will require some sort of council consent, be it a Development Application (DA) or Complying Development Certificate (CDC). www.artfixation.com.au And to compile the documentation, you’ll need the skills of a building designer or draftsman experienced in this area. Does that mean us? You bet.
So if you paid heaps more for your California bungalow in Bondi than it’s currently worth, or your cute terrace in Alexandria is now surrounded by major earthworks, never fear. The market will turn, and the earthmovers will finish their digging eventually. Renovate, enjoy living with the fruits of your – and our – labours for a few years, and that nest egg will be glistening again before you know it.
Contact us to find out how we can help maximise the value of your home.