WHAT’S IN A NAME? MONEY

PHIL SPENCER RE­VEALS HIS SIM­PLE TIP TO BOOST­ING YOUR PROP­ERTY VALUE AND IT COULDN’T BE EAS­IER

Life & Style Weekend - - MAGAZINE | HOME - WORDS: LIFE­STYLE.COM.AU LOVEITORLI­STIT

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

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