If you're buying investment property, sometimes renovations can be a great way to get the most out of it. The right additions can increase the base value of the home, as well as boost its appeal to prospective tenants. It's like killing two birds with one stone (or one marble countertop!)
Thinking of going DIY? Renovations are one way that a lot of people add value to their property investment. With the right home loan, you can even tap into your equity to conduct the work, minimising the cost to your regular savings account.
The property searching process has often been likened to a filter funnel. In some ways no different from the decision process of buying a car or a piece of white ware.
As a buyer you have to ask yourself to what extent your head rules your heart or whether your heart rules your head.
We've finally finished the renovation at Himikera. Took us a bit longer than expected but extremely happy with the result.
I've been buying and developing a lot of properties this year either as an investor, or as part of First Home Makeovers. One of our current projects is a property we bought on Hendon Avenue in Mt Albert.
We’ve had a couple of interesting client problems this week that we’ve solved for them but it is a good wake up call on the risks of pre-1945 houses.
We get to see a number of ambitious young investors looking to rapidly grow their fledgling portfolios. The challenge is that accumulating properties has become tougher in the past 4-5 years with tighter bank credit rules and lower capital growth.
Clients were too afraid to take this one on so we did it ourselves and have now put it on the market.
We did this makeover with a $70,000 budget, which was a mixture of our funding and some client funds.
As a first time buyer, you should be very wary of purchasing a monolithic/stucco-clad home which has been built in the last 15 or so years.