What Buyers Want

Source : Your Investment Property. 14 February 2012

The results of a national poll of real estate agents have revealed some interesting insights into what they believe buyers are looking for in a home.

The poll, which was conducted by Turf Australia, garnered the views of 114 real estate agents nationally between November 2011 and January 2012.

Top of the list of ‘elements of a property most valuable to buyers’ was an extra bathroom, with 42% of agents saying that buyers were looking for a property with more than one bathroom.

Being on a quiet street came in a close second (41%), followed by a decent sized backyard (34%), being close to a bus route or shops (20%) and off-street parking (13%).

Interestingly for investors who own property with a patch of grass, Turf Australia claim that the survey results show that home buyers are prepared to pay up to $75,668 more for home with a lawn.

According to the survey’s results, lawns add the most value in Victoria (19%), followed by NSW (16%), Queensland and South Australia (12%), and WA (9%).

“Australians have changed their ideals for a backyard but a townhouse or larger suburban home with an area of grass is still important in 2012,” said LJ Hooker CEO Janusz Hooker.

“For sellers, the key is to put some time into making the lawn look well-cared for and perfect for the new owners – that’s how they’ll capitalise on the added value a lawn can offer.”

Source : Your Investment Property. 14 February 2012

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