Our Pretty Beach / Hardy Bay design sold for $1m+ over previous suburb record
($3m vs $1.82)
One of the first things a developer may ask when planning a development is what is my likely return-on-investment and on the other side an owner-occupier is likely to focus on fulfilling their personal wish-list and obtaining a certain style. Both are justified in their intent, and both also can learn from each other in regards to making a solid investment.
There are 'on-paper' formulas that can assist in achieving higher sales return, for example a 4 bedroom home will generally fetch more than a 3 bedroom, having 2 bathrooms rather than 1 etc etc but these formula's only get you so far, there's always a human factor that plays a key determining role on how much a property is really worth. The old phrase 'quality, not quantity' springs to mind - it's not just about having a lot of space, it's about creating quality space that excites and inspires, is meaningful and practical.
Testament to this sentiment is the return achieved on a number of our recent projects, well considered custom designed residences built to a very high quality, that are breaking suburb and street records and showing that buyers really value quality design and finish, and that with this desirability comes demand, and with demand comes the ability to sell for a higher figure.
Our 'Wamberal I' home design that beat the street record by over $400k ($1.75m vs $1.35m)
Our 'Wamberal II' home that beat the street record by over $500k ($2.42m vs $1.9m)
Our 'Pearl Beach I' home that beat the street record by nearly $600k ($2.75m vs $2.175m)
A quality finished home designed efficiently and with creativity and flair will often have a perceived higher value than a home that may be larger in size but with an inefficient layout, uninspired design and often low quality fixtures & finishes (to afford the extra size).
The take from all this:
There's a real financial value in quality design and builds, and disregarding money there's a pride of reputation that goes with doing quality work and leaving such a legacy
Owner / Occupiers
Consider the end value of your project, in the event that you ever need to borrow against the equity of your home or sell it's likely to be valued higher being a quality / custom designed home and not going simply for quantity
Most of the time when a designer home is proposed in your neighbourhood it's something to celebrate as it indicates a trend towards higher property values, and if it is proposed next door this is generally not cause for concern as a bespoke home will consider it's environment including the amenity of neighbouring properties in regards to privacy and overshadowing