04
ADDING VALUE AND LUXURY TO YOUR HOME WITH OUTDOOR LIVING
06
FEATURED PROPERTY 4 Croxley Place, Narre Warren South
24
PROPERTY INVESTMENT A BALANCING ACT IN A CHALLENGING MARKET
25 LEASED IN AUGUST Leasing Statistics For August 2024
Outdoor kitchens and dining spaces have become a major trend in home improvement, particularly in warmer climates where outdoor living can be enjoyed most of the year. These spaces are no longer just for summer BBQ’s, they’ve evolved into fully functional extensions of the home that blend the comfort of indoor living with the beauty of the outdoors.
WHY ARE OUTDOOR KITCHENS AND DINING SPACES SO POPULAR?
1. Expanding Living Space: Adding an outdoor kitchen and dining space effectively extends your living area. It creates a versatile space where you can cook, dine, and entertain guests. For families who enjoy hosting gatherings or simply want to maximize the use of their backyard, this is a perfect solution.
2. Enhancing the Entertaining Experience: An outdoor kitchen allows you to entertain without being stuck inside preparing food. With all the necessary cooking tools and amenities there in your backyard, you can socialise with guests and be part of the festivities while preparing meals. This seamless flow between cooking and entertaining makes outdoor kitchens highly appealing to homeowners who love to host.
3. Increasing Property Value: Outdoor kitchens and dining areas are considered luxury features that can significantly boost your home’s marketability. They are often seen as a premium amenity that adds a sense of sophistication and style to any home. For those thinking about selling, a well-designed outdoor space can be a key selling point that attracts buyers and potentially increases the selling price.
1. High-Quality BBQ or Cooking Station: The heart of any outdoor kitchen is the BBQ. Whether you opt for a portable option or a built-in cooking station with side burners and extra features, having a high-quality cooking area is crucial. Stainless steel is a popular choice for outdoor appliances due to its durability and sleek appearance.
2. Ample Bench Space: Just like an indoor kitchen, having enough bench space is essential in an outdoor setting. Durable, weather-resistant materials like granite or concrete ensure that your benchtops can withstand the elements while providing room for food prep and serving.
3. Comfortable Dining Area: A functional outdoor space isn’t complete without a dining area. Invest in comfortable, weather-resistant furniture that can accommodate family meals or larger gatherings. Creating a cozy atmosphere with a large table, seating, and perhaps even built-in benches will make your space more inviting.
4. Shelter and Shade: An overhead structure like a pergola, gazebo, or retractable awning can protect your kitchen and dining space from the elements. Shade not only makes the space more comfortable during hot days but also allows you to use the area in different weather conditions, extending its functionality year-round.
5. Outdoor Lighting: Adding well-placed lighting is essential for evening use. Soft, ambient lighting over the dining area combined with brighter task lighting near the cooking station ensures the space is both functional and beautiful.
1. Modular Outdoor Kitchens: Many companies offer modular outdoor kitchen units that come pre-designed with BBQ’s, sinks, and storage. These are a more affordable option than custom-built kitchens and can be tailored to fit your space and budget.
2. Portable BBQ’s and Furniture: Instead of investing in a fully built-in kitchen, start with a highquality portable BBQ and simple outdoor furniture. Look for durable, affordable materials like aluminium or resin wicker, which are long-lasting yet budget friendly.
3. DIY Benchtops and Tables: If you’re handy, consider building your own benchtops and tables using affordable materials like concrete or repurposed wood. DIY projects can add a custom look to your space without the high cost of professional installations.
4. Shade Sails and Umbrellas: Instead of a full pergola or roof structure, consider installing shade sails or large outdoor umbrellas. These options provide the necessary protection from the sun and rain while being easier and less expensive to install.
5. Solar Lighting: Solar-powered lights are a cost-effective way to illuminate your outdoor space. They’re energy-efficient, easy to install, and add a warm glow to your outdoor kitchen and dining area without requiring wiring.
Outdoor kitchens and dining spaces are more than just a passing trend, they’re a smart investment that adds both luxury and value to your home. Whether you’re looking to enhance your lifestyle or improve your home’s marketability, adding an outdoor kitchen is a worthwhile upgrade. With thoughtful design and some budget-friendly options, you can create an outdoor oasis that will be a favourite gathering spot for years to come.
When John and Karen decided to sell their property at 4 Croxley Place, Narre Warren South, they knew they needed guidance to achieve the best possible outcome. Fortunately, they found the perfect partner in Zino Rebello from First National Neilson Partners. Thanks to his expert advice and hands-on approach, what could have been a challenging sale turned into a remarkable success.
The modern and spacious home, was in need of some TLC. “The home was in poor condition and would only have sold for around $600,000 in its current state,” said home seller John.
Recognizing the potential, Zino provided the homeowners with a comprehensive plan to
elevate the home’s appeal. His suggestions included updates such as painting, new carpets and blinds, and staging the home with stylish furniture. Zino even went the extra mile, helping John and Karen select the right tradespeople and offering valuable advice on colour schemes, materials, and landscaping.
The results spoke for themselves. After following Zino’s recommendations, the home was transformed into a stunning, move-in-ready residence that attracted significant buyer interest.
“Your advice on selecting the right tradespeople and suggestions on paint colour, carpet, new blinds, front and back landscaping, plus house staging helped to sell the house for a whopping $775,000!” John exclaimed.
The sale of 4 Croxley Place exceeded all expectations, not only in terms of the final sale price but also in the speed of the transaction, selling in just 1 week.
Reflecting on the entire experience, John couldn’t help
but praise Zino and the team at First National Neilson Partners. “Your professionalism, and the team at First National Neilson Partners, is second to none. We congratulate you all on such a great result,” he said.
The sale is a shining example of what can be achieved when homeowners take the advice of a dedicated real estate agent. Thanks to Zino’s guidance, John and Karen not only maximized their property’s value but also ensured a smooth and successful sale.
The new owners are undoubtedly set to enjoy their beautiful new home, while John and Karen can move forward with the satisfaction of knowing they made the right choices every step of the way.
SCAN QR CODE TO LEARN MORE
4 Croxley Place, Narre Warren South
C RANBOURNE EAST
1 2 Vizsla Street
N EW DREAM HOMEP ERFECT OPPORTUNITY FOR A LL!
4 A / 2 B / 2 C
This brand-new home boasts four spacious bedrooms, an openplan lounge & dining domain, modern kitchen with stone bench tops, excellent storage and walkin pantry. Close to Casey Fields and numerous parks, football ovals and children's playgrounds for family enjoyment. Also close to various childcare centres, schools, Casey Recreation and Aquatic Centre, Centro Shopping Centre, and public transport.
FOR SALE
$690,000 - $760,000
Sachin Arora 0411081640
solutions for all of your storage needs...
• Ranging in size from 4sqm to 34sqm
• Competitive rates
• Short or long term lease
• Modern, clean units
• 24 Hour video surveillance
• Easy access
Historically, property has been a reliable and profitable investment, despite recent increases in holding costs. However, navigating the current market requires a strategic approach.
Rising Costs and Affordability Challenges
Median rental prices in Melbourne have surged, stretching the budgets of many. Combined with the soaring cost of living and stagnant wage growth, affordable rentals are hard to come by. As a rental provider, you must balance maintaining a profitable investment with offering fair rent to your renters. It’s not just about numbers; it’s also about treating your renters with respect.
Strategies for Balancing Affordability and Profitability
To navigate this challenging landscape effectively, consider these strategies:
Charge Competitive Rental Rates: Maintaining a balance between profitability and affordability is crucial. Charging slightly below market value can help retain excellent renters while ensuring your investment remains attractive.
Treat Your Investment Like a Business: Your property should generate steady revenue to cover costs. Avoiding emotional decisions and focusing on long-term financial impacts can prevent costly high renter turnover, including expenses related to marketing, letting fees, and vacancy periods.
Avoid Emotional Decision-Making: While it’s important to value great renters, ensure you’re not compromising your investment’s potential. Fair pricing is essential, but it should not put you at a financial disadvantage.
Consider the Impact of Vacancies: If your great renter moves out, they will have to find market-rate accommodation elsewhere. Striking a balance in your rent pricing can help you retain quality renters while staying competitive.
Selling Your Property? Consider Market Rates: If you decide to sell, potential buyers will look for properties that yield competitive rents. Not charging close to market value could limit your buyer pool. Additionally, VCAT may be less likely to grant possession orders if renters are priced out, especially if they’re paying significantly below market value.
Achieving a balance between affordability for renters and profitability for investment property owners is key to ensuring sustainable housing and rental returns. By adopting a thoughtful approach and considering both market trends and your renters needs, you can navigate the rental market more effectively.
Whether you’re holding onto your property or considering selling, aligning your rental practices with current market realities will help you manage costs and maintain valuable renters while securing your investment’s future.
/ 2 / 1
/ 2 / 2
AVERAGE VACANCY RATE ONLINE VIEWS APPLICATIONS RECEIVED
Is it time for a fresh approach to your Property Management this Spring?
First National Neilson Partners offer professional Property Management services to take the hassle out of being a rental provider.
Get in touch today to discuss your property management requirements and how we will achieve your maximum returns...
