4 MIN READ6 reasons negative gearing may not be a great investment idea
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The kitchen has always played a key role in the value of a home, however, with the rise in reality TV programs such as Masterchef, the layout and design is now front of mind for many home buyers, one industry body has claimed.
"The kitchen has been promoted into an area of prominence also by the plethora of highly publicised and successful cooking television programs such as MasterChef,” Archicentre’s state manager Queensland, Ian Agnew said.
"Kitchens are such a showpiece now that many homes have two, one inside and the other outside. The back deck of a home, once the domain of just a portable barbeque, now frequently comes with its own dining setting, wood fired pizza oven, refrigerator and sink."
Century 21 general manager Paul Mylott said he was not surprised that the kitchen plays a key role in the property purchase decision.
“The kitchen has risen in significance as an important property feature, especially when it comes to selling,” Mr Mylott said in a recent blog.
He said it was important that home owners sought professional advice before spending the "large sums of money [that] can be invested into renovating kitchens."
Archicentre is owned by the Australian Institute of Architects.
Interest is the amount of money charged by a lender or financial institution for a loan, which is calculated as the percentage of the principal amount paid over the loan term.
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