I well remember a time when the top price for a house in Feilding was $200,000. People said that prices will never go higher, and you needed to think carefully about improvements to a property, in case you over capitalised.
Those days are well gone, and it is now very difficult to find a house property for under $200,000!
So where is the ceiling now? There aren’t a lot of sales over $750,000. I suspect that the right property could well fetch $1,500,000 today, and maybe more.
This means that most of us can add value to our homes without the same risk of over capitalisation.
If you are contemplating a significant improvement or addition, and want advice about the potential added value, feel free to contact me for no obligation free advice.