Features typically seen in luxury residential real estate have been included on the wish lists of many homeowners in Australia, a new survey from Realestate.com.au has found.
More practical features, such as off-street parking, seemed to be lower on the list, which may indicate that Australians have a taste for premium property features.
As a result, these findings could demonstrate the preference for features by luxury buyers in the country.
Bigger homes, swimming pools and al fresco dining were all some of the most popular luxury features that homeowners desired, according to survey results.
Extra bedrooms were identified as the top feature for property wish lists, with 25 per cent of survey respondents saying they would add more space to their property if they had the option.
Interestingly, swimming pools were the second most popular desired addition to homes at 21 per cent.
Many homeowners also wished they could install a sauna, home cinema and en-suite bathrooms, which shows a demand for more luxurious options over practical ones.
For homeowners thinking of listing their property for sale in coming months, this research could provide some helpful tips for renovations or additions to meet changing tastes and demand.
From features like home cinemas to larger scale renovations, there are many opportunities for owners to make valuable add-ons to their homes.
However, before making any renovations to a property, it’s important to determine if the investment is going to be worth it once the home is sold.
Will the thousands of dollars invested in a sauna or hi-tech home cinema really pay off once the home hits the market?
Work out the cost of renovations and speak to an agent to see what kind of price you could get on the sale of your home.
Alternatively, investing in the more practical features may be a safer bet, such as off street parking, extra bedrooms and outdoor dining space.
At the same time, this demand for luxury property elements could spell good news for current owners of premium properties who wish to sell in coming months.
For help with selling or buying luxury real estate in Australia, contact the property experts at Ray White. We have a vast network of luxury specialists across the country who can help you achieve your goals.
This article first appeared on, and is courtesy of, raywhite.com.
Photo Credit: Curtis Gregory Perry via Compfightcc
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