What the agent says…

O’Brien Real Estate Cheltenham is less than 20km to the CBD and is a popular bayside suburb because it’s well serviced by train and main road links and also schools – there are 23 within a 5km radius. But new apartment developments within walking distance of the station have brought singles and young professional couples into the area, which has led to good cafes and restaurants opening. When people move here they tend to stay and upgrade to a bigger house – I’m a good example of that because when my family outgrew our three-bedroom home, we moved 13 houses away! Lauren and Max’s house is a lovely Californian bungalow in the popular area of Cheltenham, known as the ‘Golden Triangle’. It would appeal to couples, small families or downsizers attracted by only having a small lawn to maintain. The improvements the couple are considering, such as renovating the kitchen and bathroom, add value because they’re the kind that you can see. They bought the house for just over $900,000 in 2017 but it should be worth over $1 million now. Improvements should add another 10 per cent. Is it worth them going ahead? If they’re doing it to sell in six months, no. But, if they plan to stay for five to 10 years, then it doesn’t matter because they’ll benefit from improvements and also appeal to future buyers.