The most-sought after property features and how to make your property attractive to potential buyers
By | 19th Aug 16

Bessie Hassan | Money Expert at finder.com.au

The most-sought after property features and how to make your property attractive to potential buyers

Bessie Hassan | Money Expert at finder.com.au

Air conditioning, a car space and a backyard were cited as the most important property features for Aussies, according to a recent survey of more than 1,000 respondents conducted by finder.com.au -- one of Australia’s largest comparison websites.

65% of Aussies ranked air conditioning as the most important property feature (according to the ABS, one in every four houses has air conditioning), while 60% believe that a carport or garage is just as important.

A backyard (52%), solar panels (33%) and an outdoor entertaining area (24%) were also ranked highly by the survey respondents.

Here’s a breakdown of the 10 most sought-after property features, as ranked by the proportion of Aussies that deem each feature important.

The survey results show that men perceive a garage as important for their next property compared to women, with 62% of men citing it as important compared to 58% of women.

Gen Y are the most likely to want a swimming pool and a dishwasher, both features are vital for 23% of the population. On the other hand, only 15% of Baby Boomers and 14% of Gen X wanted a dishwasher.

It’s not surprising that only 10% of Baby Boomers wanted a swimming pool compared to 21% of Gen X.

Here’s a summary of the property wish list for the states and territories:

  • The Northern Territory had the highest percentage of people who need a swimming pool and air conditioning, at 50% and 75% respectively.
  • Western Australians were the second most likely group to want a swimming pool for their next property.
  • South Australians believe air conditioning was more important than any other state.
  • A garage was most important feature for Queenslanders, at 63%.
  • There's huge demand for properties with off-street parking in New South Wales which is important to 62%.

 

Knowing the demographics of your area can go a long way in helping you attract high quality tenants, or to appeal to prospective buyers further down the track.

For example, if you’re selling in an area where there is a younger demographic, you may want to install new kitchen appliances such as a dishwasher, or you may purchase a property that is within close proximity to transport and public amenities.

To boost the sale-ability of your property, speak to local real estate agents to see what renovations or upgrades would add the most value to the property in the area. You may want to steer clear of bold or extravagant design choices so that a future tenant or buyer can imagine themselves within your property -- try to keep it neutral.

As we approach the end of financial year (EOFY), it’s a good time to conduct a financial health check. Review your current expenses and debts, including any personal loans or credit cards that you have, and see if you can minimize your personal debt. After all, any savings you make can be thrown into a renovation project.

Another way to appeal to future tenants or buyers is to enhance your kerb appeal. Spruce up the landscaping in your front yard, update your front door with a coat of paint or buy a modern letterbox. For many, first impressions count!

We have partnered with finder.com.au to bring you valuable insights to assist with your property goals. Please note this information is general in nature and we recommend you to do your own research to ensure your decisions best suits your needs! Bessie Hassan is the Money Expert at finder.com.au, one of Australia’s largest comparison websites.