Simple switch could add $20k to home
Catherine Halloran, a freelance real estate agent based in Canberra, understands that first impressions from buyers are crucial.
She recalls a time when a property had a decorative Union Jack toilet seat, which surprised many buyers.
Halloran mentions how something as inexpensive and easily fixed as this can influence a potential buyer’s decision-making process.
Furthermore, research from Money.com.au indicates that replacing your toilet with a better one could positively impact your home’s value.
Therefore, making simple improvements like this could be a wise investment when preparing to sell your property.
According to Andrew Pizzino, a buyer’s agent based in Brisbane, the key factor is replacement value when assessing a property.
He explains that when two properties are nearly identical on paper, such as type, size, and layout, replacement value matters.
In such cases, Pizzino states, we assess the replacement value to differentiate between properties and determine their worth accurately.
For instance, a property with an imported bidet toilet seat or a fully functioning Japanese-style toilet can increase value.
This could add anywhere from $500 to $20,000, depending on the type and quality of the toilet fixture.
The scale and quality of renovations can greatly affect the final value added to a property after improvements.
Halloran estimates that a basic bathroom renovation, including a matching toilet, could increase a home’s value by $10,000.
In fact, a renovation like this can add $10,000 to $15,000 in value to a standard family home.
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Some budget-conscious homeowners, like Geelong property investor Charles Corby, have opted for second-hand items to save money.
Corby found a unique black toilet on Facebook Marketplace for only $70, a much more affordable option than new ones.
With a cheap wall-mounting system purchased from eBay, he was able to create a distinctive bathroom feature.
He says that his unique toilet is something “everyone comments on,” showcasing the appeal of the unusual choice.
“Most people haven’t seen that one before,” Corby notes, highlighting the novelty of his budget-friendly bathroom upgrade.
Changing the color of the toilet seemed like a simple choice, but it significantly added value to his home.
