As with any spend on your property, return on investment is paramount. Will it stack up if or when you eventually sell the property?
So how can you ensure a higher resale value? Our General Manager, Drewe McCredie outlined his top three:
- Design and quality are paramount, homes that look great, feel great and just work for everyday family life.
- Experience – There are plenty of challenges building across Brisbane – the typography of the city with small, narrow and sloping blocks, character overlay restrictions to name just a few. Working with a builder who has experience dealing with these challenges will help to avoid budget blow outs which will ultimately affect your ROI.
- Advice – This ties into experience, but you need good advice. Where does the value lie in your property? Should you renovate, should you knock down and rebuild, should you sub-divide?
We’ve taken a snapshot of some of the inner city, small lot (homes on 450m2 or less) small-lot homes we developed in the past few years – and over the past four years, capital gains to Kalka properties sold have averaged at a growth of 21%.
43 Wilden Street, Paddington.
An extensive custom renovation project in collaboration with Shaun Lockyer architects and Kalka. This property sold in September 2013 reaching a record price at auction.
Sold September 2013 – 11% capital gain
41 and 43 Reading Street, Paddington
Sub division of a block into two small lots of approximately for two 4 bedroom, 2,5 bathroom homes. These properties are within a Traditional Building Character Overlay area, and the slightly modified facades Augusta and Ellanora were chosen for their compliance with this zoning.
41 Reading St Sold May 2013 – 38% capital gain
43 Reading St Sold March 2014 – 38% capital gain
57 Tranters Ave, Camp Hill
A knock down and rebuild project on to create a 4 bedroom, 3 bathroom home with a Muirfield façade.
Sold January 2016 – 20% capital gain
84 Jean Street, Grange
Winner of the 2016 HIA National Project Home of the Year
Knock down rebuild project to create a 4 bedroom, 2.5 bathroom home featuring the Oakmont façade.
Sold June 2016 – 21% capital gain
37a Piddington Street, Ashgrove
Sub division and knock down rebuild. Small lot development using a ‘Wentworth’ façade, this 4 bedroom, 2.5 bathroom home was sold 6 months after completion.
Sold October 2016 – 20% capital gain
*Based on a selection of Kalka Development and Client projects built and sold from September 2013. Brisbane property prices have risen 4.2% in the past 12 months.