With the days getting longer it’s time to start thinking about enjoying the great outdoors again – whether it’s in your backyard or your local park.

The Reserve Bank met in the first week of the month and as expected left the official Cash Rate unchanged at 1.50%.

This month’s newsletter looks at whether the quarter-acre Great Aussie Dream is drawing its last breaths and how those who still have a garden can use their green thumbs to add significantly more value to their homes.

Spring is super sales time – if you’re thinking of moving this season, let me help by putting all the latest mortgage data at your fingertips. Let’s have a quick chat now.

Call me now 0402 408944. 

Has the quarter-acre been replaced as the Great Aussie Dream?

Once upon a time, the average Australian dreamed of a detached house in the suburbs with a substantial backyard – enough for the kids to run and play or for a veggie garden and fruit trees.

But data shows that, in the last two years, almost one out of every two new properties built in Australia is an apartment. Does that mean the Aussie Dream is dead?    

Clearly house prices are a factor in the new housing reality – an apartment can be a more affordable way to get a foothold in property. Apartments are also popular with investors looking to buy more affordable properties in popular suburbs and rent them out.

Also, with higher density living comes less maintenance so the rash of baby boomers starting to downsize may also be driving the new trend. In the early 2000s, just 3% of people age 50 plus downsized. This rose to 9% (or 295,000 people) in 2011 but the numbers are still climbing.

In fact, a recent Australian Housing and Urban Research Institute (AHURI) report found 42% of people aged 50-59 were expecting to move to a smaller dwelling or a different location in the ‘near’ future. And their most popular place to live? Low-rise apartment complexes on the CBD fringe.

These generally come with amenities like gyms, pools, rooftop entertaining areas, BBQ areas, laundry rooms and secure storage cages.

And for those who enjoy a lovely garden, city parks are providing new alfresco entertaining and exercise options nearby without the hard work – perfect for a new generation of downsizers.

Are you considering apartment living? Let’s talk mortgage options – I can give you some great options on what can work for your unique circumstances. Pick up the phone today.

Use your green thumb to add 20% more value to your property.

Did you know a well-kept, well-designed garden adds 20% more value to your property? If you’re blessed with a green thumb, it’s the easiest way to boost your asking price.

Plus, you’ll also double your investment in landscaping – if you spend $20,000 on your garden, you can expect to make around $40,000 back when it comes time to sell.

That’s a higher return percentage on any other home improvement you can do.

And if you’re an especially gifted gardener, the returns can be even more.    

But the opposite is also true – in fact, if you’re garden is looking less than kempt, potential buyers generally estimate the cost of fixing it up by a factor of five. That could mean you lose big bickies when you want to move elsewhere.

Here are the top 4 things you should do in your garden to keep your property’s value in the black:

1. Plant a tree on your verge. A Perth-based study* found that a broad-leafed tree located on a street verge in front of a home increases your median property price by about $16,889.

2. Create an outdoor alfresco area. Entertaining spaces are particularly prized. Create a neat paved outdoor room with plenty of seating, options if the weather turns and a nice leafy outlook to get the most return for your investment.

3. Create a secluded space. Address any privacy issues by planting out your perimeters. The right screening plants can block out nosy neighbours or busy roads, making your garden more inviting for potential buyers.

4. Add a layer of mulch. A quick fix for instant results – weeding and mulching your garden beds helps them look low-maintenance and neat as a pin.

*‘The effect of street trees on property value in Perth, Western Australia’. Landscape and Urban Planning, research paper, 2012 Elsevier.

Thinking about landscaping your home or investment property? If you need some extra funds, speak to me – I’ll get you up to date on the latest mortgage options right for your needs.