As advisors and educators, the PROPERTYOLOGY team regularly remind our clients that “beauty is in the eye of the beholder”. What is important to one person is always going to be different to another. For many clients, that means remembering that the colour of the kitchen cupboards or the wall paint, the style of curtains or the flooring, are not important considerations when assessing the financial potential of an investment property.
An astute investor knows that the size of the rooms is much more important than whether there are built in cupboards, that a structurally sound property is a far more important consideration than having a recently renovated kitchen or freshly painted walls. Another important consideration is understanding the local demographic in a particular location and their desires, more so than your own.
We recently purchased this property for first time clients Brendan and Janine. Whilst the property is very well presented and located less than 20 minutes from the CBD of this capital city they aren’t the reasons we recommended it. The property is in a very exciting location with a very diverse economy. It is very low maintenance, structurally sound and is the style of property which will appeal to tenants and future owners alike. These are the factors which we believe give our clients the best opportunity to achieve the highest possible sale price when the right time comes.
The house isn’t perfect though, it has some flaws and some minor maintenance which if desired Brendan and Janine could attend to, but all established properties come with some “defects”. As mentioned, what is important is finding a property which appeals to the broadest market possible.
This is exactly what we have done here and believe this property represents very astute investing.
Additionally we were able to secure this large 4-bedroom, 2-bathroom home for a very affordable $436,000.
Brendan and Janine are now working closely with an experienced local property manager to secure the perfect tenant.
Bryan Loughnan is Propertyology’s Senior Buyer’s Agent. Bryan has a Bachelor of Applied Science majoring in Property Economics. In 2016, Bryan was a finalist in the Excellence Awards for “Queensland (REIQ) Buyer’s Agent of the Year”.