Based on a recent market research report, the collective value of the concrete industry in Australia is upwards of $3 billion, and this humming sector will continue growing at a rapid rate of 4% over the next several years.
An obscure factor that has been helping drive expansion and spending within the custom concrete niche is the record level of investment within the home improvement arena. By the year 2020, forecasters believe that homeowners in Australia will finally surpass $35 billion in total annual spending on refurbishments and renovations, and it’s worth noting that this figure doesn’t even take into account the thousands upon thousands of new homes that are built each year.
In this regard, you have to be able to appreciate the value-added impact of a brand new concrete driveway before you spend a single dollar on another project, which is why we’ve decided to shed some light on exactly why this particular venture represents the best route from a financial and aesthetic perspective.
A More Valuable Property
The worst-kept secret in the home improvement landscape is the concept of return on investment (ROI), but the vast majority of householders in Australia don’t understand which renovations are actually worth the time, hassle, and money.
Industry experts say that you should avoid building a new swimming pool, adding a home office, installing wall-to-wall carpets, and purchasing an aquarium, because these options tend to cost an arm and a leg, and they aren’t able to positively affect your property’s listing price.
Concrete-based upgrades, on the other hand, are shockingly valuable. If you construct an individualised driveway, some weaving pathways around the building, an entertaining area such as a patio, durable retaining walls, or some alternative concrete features, you’ll be able to recoup more than 60 cents for every dollar you invest.
Concrete enhancements can stand the test of time and retain their intrinsic worth for many years, if not many decades, which is why custom-built driveways in north Melbourne are so highly sought-after nowadays – you don’t have to sell your home in the near future to capitalise on the investment.
What Are the Most Prevalent Projects?
If you visit the website of your local concrete and formwork solutions provider, you can browse through their portfolio and gallery to attain some idea fodder for your land, but you should acknowledge the most desirable options before you begin gathering information:
- Visible aggregate and coloured concrete driveways, both of which can be modified to fit your property’s inimitable theme.
- Pave cut pathways that resemble a high-end sidewalk of sorts.
- Intricate flagstone patios that take on a more traditionalistic, old-fashioned visage.
- Bespoke landscaping features, including brick masonry retaining walls, hybrid barriers, and stencilled trails.
So take a day off, arrange a face-to-face meeting with a concrete specialist, and begin carving out a budget-friendly makeover strategy – you’ll be glad you did.