Be a maker not a taker

I have a plan to increase the value of my home.

Despite the fact that house prices are falling, despite the fact that only last week I was preaching that we should all be happy about it (The Value of Home), I do have a plan that I am confident will build my home’s value over the medium term, say five to seven years.

It is about innovation. Shareholders rightly look for innovative companies when they invest.

I am banking on the fact that I have bought into an area with an innovative local municipal council. It’s worth doing your research on your local council to find out whether they are considering the community, its economic development, future transport, new schools and other facilities.

My council has a housing plan that it is currently consulting on, and a major urban development that it has researched and consulted about meticulously. It has numerous projects to improve services, including an integrated transport plan.

And that is part two of my secret to improving the value of my home. I read all the plans, and if I think they’ve missed something, I’m getting involved. As a community member, as a ratepayer, I can take part. I am not one of those who will be opposing developments; I’ll be looking to make sure that new developments are of the highest quality, with homes of all different types and prices, with schools and shops and work opportunities nearby, and bike paths, public transport and roads.

Just north of where I live is one of the biggest urban development projects underway in Victoria, rehabilitating an old site formerly owned by the Department of Defence. I am not worried about thousands of new residents moving into my area; I’m looking forward to it. I have read the plan developed by my council and the developer and it is terrific. There is strip shopping, which we don’t have now, and recreational development along our beautiful local river. There is affordable housing. They have done a wonderful study of the site’s history.

Still, I think there should be a private school in there, as well as public schools. I’m not a fan of private schools personally, but we need to cater to those that are. And I am not clear about what is happening to the 400 or so existing buildings on the site. I’d like to see many of them developed into community and cultural venues. So I’ve put myself down on the list to be involved in consultations. That way, I am going to get the quality suburb I want built around me.

On the downside, a lot of plans and documents put out by councils, including mine, are stodgy reading, and they really should change that. They should be clear, concise, illustrated, and summarised at the front. The recommendations, actions and time lines all need to be crystal clear. I am not giving the transport plan a big tick on that measure, but the information is there.

Renovations are not the only way to improve the value of your home; we can work to improve the community around us. We all know that it is a matter of location, location, location. There’s never been so much information available or such a strong effort by local government to get the community involved. And that is something we can all do to get the value of our homes up.

Do you agree? Write and tell me your views.

BRW

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