It’s a fairly common outcome that many investors have held properties for up to five or six years and the property still is not worth what was paid for it. Ironically, many such properties have been purchased through “investment advisory” companies who don’t limit themselves to providing “advice” and invariably supply the investment property. In contrast, our clients had a valuation done within months of moving in (while still incomplete) and found to their delight the bank had provided a valuation indicating a positive equity to the tune of 120 K. Needless to say this wasn’t achieved via the usual “retail” method of visiting display homes and paying retail prices rather the result was attained through the strategies and processes employed by our buyer’s agent and building advocacy services.
We have managed to create value here through our own processes using our own plans and specs and having builders compete for the job as opposed to using a particular builders intellectual property. The other aspect of the design’s brief was to be different which was certainly achieved here. The home comprised four bedrooms and a study, two bathrooms, kitchen with butlers pantry, generously sized meals are overlooking the undercover deck. Informal living is complimented by a formal living/multi purpose room while a direct access from the double remote provides security and convenience. Complete with 9ft ceilings, stone benchtops, ducted heating and split system air and dishwasher all appointments were included.
When it comes to achieving value for money, price is not the only consideration but it certainly ranks with any other. As Warren Buffett was quoted, “price is what you pay, value is what you get”. For more information about saving money in real estate give John a call on 0409 440995