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When it comes to real estate in Beenleigh and Eagleby, there’s one name you need to know: Benjamin Waite. As a trusted expert with deep local knowledge, proven results, and a passion for helping clients succeed, Benjamin is the go-to agent for sellers, buyers, and investors in the region. Worth the Waite is more than just a podcast—it’s your insider guide to Beenleigh's property markey, offering valuable insights and strategies designed to position you for success in the property market.
From understanding local trends to maximising your property’s value, each episode equips you with the tools and knowledge you need to make confident Real Estate decisions. With a friendly yet professional approach, Benjamin shares real-world advice, stories, and tips, making complex real estate topics accessible and actionable. Whether you’re planning your next move or simply want to stay informed, tune in weekly and discover why working with Benjamin is always Worth the Waite!
This podcast is brought to you by Pod Pro Australia. Did you know that strategic renovations can increase your property's value significantly? But spending too much on the upgrades could cost you more than it returns. Today on worth the wait, we're diving into how to add value to your home without spending too much and overcapitalizing, specifically for homeowners in that Beenleigh , Eagleby market. Looking to stay ahead in the Beenleigh , Eagleby property market?
Benjamin Waite:Want to get local insights from someone who knows this community inside and out? Then you've come to the right place. I'm Benjamin Waite, and welcome to Worth the Waite, Beenleigh and Eagleby's local property podcast, where we'll be diving into everything you need to know about real estate right here in our beautiful region. So what is overcapitalizing? Well, overcapitalizing essentially is, let's say your house is house on the market at that time is worth probably 500 to 550,000, and you bought it for 500,000, and you spent a hundred and 50,000 on putting, I don't know, a pool, a new kitchen, new bathrooms, a big shed, and then you have to sell.
Benjamin Waite:Maybe you want to sell. Maybe you need to sell for, you know, an unforeseen circumstance. And the the money that property owes you with the mortgage and all your renovations more than what the property is worth. That essentially is overcapitalizing. We all want to freshen our home, put some upgrades in there, make it look nice, make it look clean.
Benjamin Waite:You may be overcapitalizing at that point in time. So there's a bit of a playoff around that. You know, most people are gonna invest money in their house, and they don't really plan on selling it at that point in time. So the market's gonna do its thing. We can't control that, but, you know, usually the rule of thumb or not even the rule of thumb, but the data would suggest historically over the last two hundred years of of real estate is that prices do go up ebbs and flows, of course.
Benjamin Waite:But you wanna kind of plan that, you know, you haven't overcapitalized it in ten years time. So that's obviously important. And the other thing is that you understand understand the local market. If you're in a entry level market, much like Beenleigh Eagleby is, probably not sure if you're gonna wanna put in, you know, a seven bedroom, seven bathroom, you know, mansion with, you know, monstrous pools and garages and lifts and and, you know, car stacks and, you know, all the beautiful stuff that you might see in a trophy home, you know, in in the Gold Coast, probably fair to assume you're gonna over capitalize. But so knowing and understanding the local market, what the local market might want in conjunction with what you want in a property, I think is a responsible and pretty prudent thing to do.
Benjamin Waite:Renovations that add value to your property while still, you know, having some sort of cautiousness or understanding around over capitalizing is painting new kitchens, new bathrooms. A pool's great. Usually, you don't make money on a pool. You kinda it's a dollar and a dollar out typically for a pool we find. But if you if you wanna make the home yours, go for it.
Benjamin Waite:That's that's important. You're living there ultimately. But you wanna kinda keep in mind the the, you know, if you need to release it, if it's gonna get your money back, or if you're prepared to maybe lose a little bit of money as long as you're comfortable in the home. If you're doing a flip or you're trying to renovate to be able to get some money back, typically, we kind of, you know, you wanna kind of put it spend a dollar to get a $3 back in return. I think that's a pretty good return on investment.
Benjamin Waite:Renovations you might wanna think twice about, particularly in this Bingley Eagly market, would be really, really expensive, high, high end appliances. You just you're not gonna get the money back. The perception of typically investors or first time buyers, they they won't know those brands. They won't recognize, you know, that that's a $10,000, you know, fridge or dishwasher or, you know, a $20,000 oven, and they'll probably be intimidated by that. So the mix of what you want in a home and what performs well for you and also what you're gonna be able to, you know, get back for when it comes time to sell is a really important factor.
Benjamin Waite:Pool's a really good one. You know, make sure that you're putting a pool in that you loved and you're gonna enjoy, I just don't expect to get a profit back when you go to sell for a pool shed. Similar situation. We all wanna shed. The market definitely loves shed, and they do value a shed, but they're not gonna again.
Benjamin Waite:You're probably gonna get a dollar for a dollar. Like if a shed sheds aren't cheap these days, if you're gonna spend 50 or a hundred grand on a shed, you know, typically, it's not gonna be increasing the property value by 200,000. It's probably only gonna be, again, increasing it by 50 to a hundred thousand. So there's some unique things that you should be you should be conscious of. So I think the biggest thing to remember when you've just bought a home or even if you'll be living in it for a little while and you wanna do some renovations or updates is make sure that is what you want and what is what's gonna make your life more comfortable, and it's gonna make your heart sing.
Benjamin Waite:Because, ultimately, we spend a lot of time in our home. We want it to be comfortable for our family, and you want it to you want it to suit you. It's an extension of you. If you're an entertainer, you know, know, put a little bit of money in the entertaining space. If you, you know, if you're a mechanic or if you're, you know, if you're a car guy, put some money in the shed.
Benjamin Waite:You know, again, they're gonna you're gonna spend a lot of time in those places, and that's where it's gonna bring you joy. I think that's the most important thing. If you're ever concerned or worried if you're gonna overcapitalize, give me a call. I'm happy to let you know typically what buyers are gonna value, and these change from time to time and market to market, and price point to price point. So happy to give you a bit of advice.
Benjamin Waite:But ultimately you wanna make sure your house is your home. So if you're thinking about renovating or to sell or simply want advice on how to add value to your home, I'd love to help with my local expertise. I can guide you towards smart, cost effective updates that will make your property in Beenleigh , eager to be shine. You can reach me at LJ Hooker Beenleigh or online at BenjaminWhite.com.au. Thanks for tuning in to worth the wait.
Benjamin Waite:And remember, when it comes to real estate, it's always worth the wait. Thanks for tuning in to Worth the Wait. If you enjoyed the podcast, please be sure to share with a friend and don't forget to hit that subscribe so you won't miss an episode and all my local property tips, updates, and insights. Until next time, I'm here when you need.