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The money is in the bedroom

30 NOV 1999 • By Phillip Tarrant • 2 min read • Hotspots

The addition of an extra bedroom could be the best way for renovators to add value to a property.

The addition of an extra bedroom could be the best way for renovators to add value to a property.

According to Archicentre, the building advisory service of the Australian Institute of Architects, the housing and rental shortage in Australia, combined with older children remaining at home longer, has placed a premium value on bedrooms.

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Edward Lukac, South Australian state manager of Archicentre, said the quickest way to increase the value of a two bedroom house in a suburb with a family-based demographic was to add a bedroom.

"This could lift the home immediately into a new price bracket with the potential to add another $50,000 to $60,000 in value for a modest cost."

Mr Lukac said too many renovators get caught up in glamorous make overs, failing to take market demands into account or purchasing a property without any concept of what renovation strategy can maximise their potential return.

"The bedroom is good value for money in the renovation stakes as it not only is one of the less expensive renovations with no need for plumbing or other costly services, it is also a smaller separate room with basic facilities such as inbuilt wardrobes," Mr Lukac said.

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Phillip Tarrant

Phillip Tarrant

AUTHOR

Phillip Tarrant is one of Australia’s leading property commentators, with more than a decade at the forefront of conversations shaping the nation’s property investment market.

As the long-time host of the Smart Property Investment Show and a regular commentator across property, finance and business, Phillip has interviewed thousands of investors, economists, advisers, brokers, agents and industry leaders, giving him a unique perspective on the trends, policies and market forces influencing Australian property.

Beyond property commentary in the media, Phillip is an active property investor himself, with first-hand experience building and managing a diversified property portfolio across multiple markets and cycles. His insights combines this practical investor perspective with deep exposure to the broader property and financial services ecosystem.

Phillip is also CEO and co-founder of Managed, an Australian property payments and technology platform transforming the way property managers, landlords and tenants manage rental payments and property transactions.

Through his writing, podcasts and industry engagements, Phillip focuses on cutting through market noise, challenging conventional thinking and helping investors make more informed, strategic decisions. His commentary regularly explores property markets, lending, taxation, regulation, investment strategy and the changing dynamics of Australia’s housing sector.

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