“My rationale for building new was threefold,” writes Mark Campbell, a working-class Aussie. “Firstly, it enabled me to have control over the end product and it made sense from an investment perspective because I could maximise depreciation and thirdly it was guaranteed equity upon completion.” You can read more about his personal investment journey above.
So here are Mark’s lessons learned:
1) Don’t rush into the market, do your research and plan for the worst.
2) Understand that value is in the location. It is more than just about great amenities, think about lifestyle and sustainability.
3) Know your options – there are many developers on the market and even more builders. Make comparisons and find a solution that works for you.
4) Look for ways to add value to the build rather than minimising cost. Standard products will lose value over time.
And finally, here’s where Jim’s Building Inspections can help:
5) Engage a building inspector to ensure the quality of the build is at a high standard.