Renovations—Is Brisbane’s Renovation Boom Still Booming?

Are you considering renovating to sell? Maybe you would like to improve your standard of living without splashing out for the cost of a new house in Brisbane? If you answered yes to either of these questions, then now is absolutely the time to act. According to the Courier Mail, Brisbane has had a huge renovation boom in the past year, with more than $1 billion spent on house improvements. Lower interest rates on loans but high stamp duty have seen people opting to use their money to improve their current home, rather than move and be slugged with stamp duty and bank transfer fees.

Here’s why you might consider jumping in on Brisbane’s renovation boom, sooner rather than later.

What kind of renovations should you consider?

During Brisbane’s housing boom, renovation types have been varied. New bathrooms, outdoor spaces, second storey add-ons and house extensions have all been popular. All quality renovations are bound to add value to your home. If you decide to upgrade part of your home, consider the following to help you decide where to invest your renovating dollars:

What could happen if you don’t take advantage of Brisbane’s renovation boom?

More renovations mean more houses on the market. This, combined with a steady growth in prices and low interest rates, isn’t something you want to miss out on. Eventually, Brisbane’s housing prices will begin to stabilise, and they may even drop. So it’s best to take the opportunity to renovate now, particularly if you are looking to sell your home in the future. If not, you may find that by delaying your renovations you don’t achieve the expected returns on investment down the track.

It’s an exciting time for Brisbane and its housing market. In summary:

Marshall Renovations Brisbane is here to help you take advantage of Brisbane’s renovation boom. If you’re looking for excellence on guidance, quality and construction of your next renovation, contact us today for your obligation-free quote. If you’re looking for inspiration why not check out some of our past projects here.