Buying and building for a better valuation, rent or resell
When you’re buying a block of land and building a new home or investing in any property, it’s a good idea to think about if and when you might consider selling it.
While you might not be considering selling your brand new home for a long time, a property that holds or increases its value can also be your key to expanding your property portfolio – giving you the financial leverage to invest again.
If you’re an investor, the same factors that make a good exit strategy can also help you attract ideal tenants.
• Buy a property where the developer has put time and effort into creating a beautiful streetscape - it will immediately feel like a nice place to live and that’s a massive asset because it will be easy to resell or rent when the time comes. People will want to live here, just like you do!
• Look at estates that have dedicated green zones – parks, wetlands, reserves, cycling and walking paths – if you enjoy using them, chances are so will someone else looking to buy in the area.
• Use a reputable builder and enjoy the brand name long after you’ve built. If you look at homes for sale at Marriott Waters, many established homes are sold with reference to being a Porter Davis house. The name is synonymous in the industry with quality and that’s something buyers are interested in.
• Ensure that you are within reasonable proximity to both established and proposed facilities, amenities and infrastructure such as shops, schools, parks, playgrounds and medical – these are the services families need easy access to everyday.
• Look for properties with easy access to freeways and public transport, so you and any future residents can get to work or school effortlessly.
• Check out the suburb profile of your preferred locations – what are the demographics? Popular suburbs like Lyndhurst have a majority resident age of under 40 and most homes are owner-occupied so you can feel confident that the families will be looking after their homes!
• Buy in areas where there is a mixture of established homes and newly constructed homes, as it will already have a real community and neighbourhood vibe which is really attractive to potential buyers and investors.
These are the elements popular with those looking to buy or rent, so if you build a new home in a location that offers some of these attributes, either established or proposed, you can be confident that your property has the best chance of resale or renting.
Marriott Waters is a fantastic example as it ticks many of these boxes and property prices remain strong even in a soft market.