WHAT’S IN A NAME? MONEY
PHIL SPENCER REVEALS HIS SIMPLE TIP TO BOOSTING YOUR PROPERTY VALUE AND IT COULDN’T BE EASIER
It’s fair to say that Phil Spencer from Location, Location, Location knows a lot about buying and selling homes. And now, the TV real estate expert has revealed his one tip to boost your home’s value without spending a fortune or making much effort at all.
Rather than spending your hard-earned dollars on renovating, painting or splashing out on a new carpet, Phil’s tip is as simple as giving your home a name. Yep, a name!
Phil told This Is Money, “Giving your home a name can be the easiest way to add thousands to its value, research shows.”
He added, “Regal-sounding names such as ‘Crown Cottage’ or ‘Clarence Estate’ are popular with buyers, while pastoral names such as ‘Harvest Lodge’ or ‘Owl Corner’ evoke a rural setting.”
Phil believes this simple trick can roughly boost the value of your home by the equivalent of around $9000.
Of course, you have to register the house name as your official address by contacting your local council and Australia Post.
They will let you know if that name has been taken or there are restrictions on removing an existing name.
You’ll still require a street or road number attached to your address, so it can be identified easily.
Need some inspiration? Here are a few tips:
You can create a bespoke, unique name by combining two words that are special to your family. For example, a couple with the names Jenny and Nigel might use the name Jengel – both names combined.
Geographical names are popular with places in the world that have a special significance to you. House names like Corsica, Killarney, Loch Ness, Acropolis or Capri are all popular.
The natural world can also feature as a source of inspiration; Banksia Grove, Cherry Hill, The Lilies, Willowbank, Gum Tree Cottage have been registered before.
Stream or watch Kirstie and Phil’s Love It Or List It, now on Lifestyle HOME