Sell with Confidence
Read More
News

Realestatements With Paul Wrigley

By Ray White Toronto Reception

Over Capitalising!
Typically, you don’t get dollar for dollar back!
There is a danger of spending large amounts of money for very little return.
Works completed on a property rarely if ever increase the value of the property in line with the amount of money spent.
Repairs and maintenance are often needed and are sometimes essential for the sale of a property. Nevertheless, some larger works are simply an owner’s choice to improve their lifestyle. This lifestyle decision should not be confused with the necessities of a successful sale. There is a danger of spending large amounts of money for very little return.
Common examples of lifestyle improvements include a pool installation, adding a deck, or a house extension. These works require significant capital, as well as time and effort. If the property is sold soon after completion, the likelihood of recouping the full financial cost is low.
When considering works, owners should first reflect on the motive behind the decision. Two key factors are personal plans and ownership timeframes.
A pool can provide many years of enjoyment for a growing family. Cooling down on those sweltering summer days, kid’s parties and entertainment provide a sensible and legitimate reason for the expense. However, if the motive is to improve the worth of the property, chances are that the added value will be eclipsed by the expense.
The longer a property is kept, the more likely it is that the full costs of an improvement can be recuperated. Works will depreciate, while the land value of the property will continue to appreciate over time.
If there are any topics, questions or comments you would like to ask or make please email me on paul.wrigley@raywhite.com or call me on 4959 6577.
Paul Wrigley & Andrew Trim

Up to Date

Latest News

  • BIG HEART FOR THE BASH!

    Paul Wrigley from Ray White Toronto & Lake Macquarie drives for disadvantaged kids! Starting and finishing in Newcastle, every day you take as many dirt roads and travel to 2 schools and donate to each school to go towards school programs, transport, much-needed equipment and resources for the students. “It’s … Read more

    Read Full Post

  • VARIETY BASH 2021 – Day 3

    Day 3 was an epic day! We had some low points we admit – rerouting to an afternoon of blacktop for example – and some real highlights – the performances from the kids in Pallamallawa and Rowena are now the stuff of legend. Once again today we were reminded of just … Read more

    Read Full Post