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16/11/2009 -
Motel building values |
How old is the structure? Older types of properties used construction techniques and materials that often cost more to maintain, or are by modern standards, no longer desirable materials to use. Old style wooden windows are a good example. Aluminium windows cost far less to maintain, do not require painting and are trouble free in their operation.
What is the building constructed of? Older buildings were often constructed of materials that are no longer appropriate, and have become obsolete. A classic example of a material that have become obsolete is fibro. Fibro is subject to damage and frequent maintenance in the form of repairs and painting. Also a timber frame is required and extra steps are required to soundproof. A modern motel will typically have a double brick wall between the units for soundproofing requirements.
Are there any cracks in the building? Minor cracking can be ignored as this can often be the result of ground movement in certain areas. Particularly, if the building is an old one, as there is bound to be some movement over time. Beware of substantial cracking in walls and the subsequent patching over the years. We have unfortunately seen the recent sale of a motel where there was major structural failures in the footings of the building. The cost to repair this kind of damage can be "sky high". The motel has now closed (fortunately we did not sell it). If you have any doubts, get the opinion of an engineer.
What is roof made from? Older forms of materials used here are corrugated fibro and galvanised iron. A modern property will probably use either tiles (terracotta or concrete) or colourbond roofing material.
What are the room sizes? Older motels tend to have smaller room sizes as this was the normal expectation at the time of construction. Nowadays a new motel could well have room sizes approaching 3 squares in size, as guests do require and expect more space.
What is the condition of furniture and fittings? I have recently seen a motel where, I am sure, the TV sets were the first colour TVs ever produced. Check the general condition of storage units, vanities, shelving and so on. Do the fridges have cracked linings? How old are the water heaters?. Age of the air conditioners?
What is the landscaping like? Is the landscaping neat and tidy and does it show "pride of owner ship", by the owners. Landscaping is there for ascetics and to make a favourable impression on a potential customer.
Does the motel have a restaurant? Restaurants tend to be a low profit area of a motel, however, many motels need a restaurant because of the kind of trade the motel attracts or because of the motels location. Particularly, where it is some distance to a café, eatery, or restaurant.
What is the surface for driveways and parking areas composed of? A good quality motel will have hot mix seal or concreted areas. Some motels use aggregate or gravel. Hot mix and concrete are very expensive and considering the size of the areas that are often involved, can form a significant asset to the motel property.
The points mentioned above do not condemn a property but are points to consider when assessing or applying a value to a motel. There are many good quality, well maintained older motels in Australia.
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