A Glimpse into the Home Improvement Arena in Auckland and Grading the Most Sought-After Projects
According to the Halfprice research organisation and the LifeAdvancer publication, it is estimated that home renovation investments have surged by an unimaginable 148% over the past nine years throughout New Zealand and Australia.
On this subject, home improvement spending in Australia surmounted $42 billion and New Zealand’s investment rate eclipsed $1.5 billion during the last 18 months, which is why these two countries are currently positioned amongst the global leaders in terms of renovation investment per capita.
In Auckland, for instance, nearly 5,300 householders facilitated substantial residential renovations in 2018, with an aggregate allocation of approximately $660 million. This has caused the median home valuation in Auckland to skyrocket to $775,000, and you can see a similar effect in other districts across New Zealand and the Australian mainland.
Understanding the Mentality of Prudent Householders
Believe it or not, roughly 70% of Australians and New Zealanders would lean towards spending $15,000 on property augmentations rather than paying for a jet-setting vacation or a new vehicle, which is ostensibly rational when bearing in mind the fact that home improvement investments represent the steadiest and securest way to stockpile your proverbial nest egg – much more so than superannuation accounts or tertiary savings.
When asked, Auckland homeowners stated that the most noticeable aspect of their last home project was the seamless nature of professional augmentations. From a bird’s-eye view, the best Auckland home renovations don’t look like renovations at all – they appear unified, continuous, and harmonious.
Just like how an expert paint job blends perfectly into the fabric of your home, a specialised property extension, cellar conversion, or deck addition will look entirely natural, almost as if the improvement in question was integrated flawlessly during the original construction of the building.
Which Projects Top the Charts?
We are all well aware of the three most influential words in romantic relationships, but it’s important to note that home renovations are also governed by three little words, albeit different ones. These words are “return on investment.”
By all means, you want your abode to look modern, progressive, well-appointed, and welcoming, but it’s just as imperative to brood over the dollar-for-dollar value of every project before setting a particular scheme in motion. Consider the following facts regarding home improvement ROI:
- Installing brand new cupboards, breakfronts, countertops, or an island workstation in your kitchen will dish out an ROI of 60-120% according to LifeAdvancer’s estimates.
- Converting one of your smaller chambers into a full bathroom or bumping out a corner of your home to include an exclusive lavatory can reimburse up to 130% of the costs.
- A sundeck, veranda, promenade, or alfresco portico will give you an open-air entertainment area and tack on roughly $8,000 to your home’s market value, or even more if you elect to utilise bespoke composite materials.
Other avenues to consider are triple-glazed windows, upgraded insulation, solar panels, and sunrooms, all of which can be assimilated and conformed to alternate home makeover plans.
In any case, whether you have $5,000 or $100,000 to devote to your renovation, it is incumbent upon you to sit down with a local specialist in Auckland to discuss your aspirations, prerogatives, and motivations, so be sure to schedule an on-site interview with a construction professional during the next opening in your schedule.