Property Investment Guide

I will tell you how I lost $80,000 because I took shortcuts when building my new homes. Even though they were 4 bedroom homes that were spacious and modern, I still didn’t get the price I was asking for. I made 6 silly mistakes that cost me lots of money. I had difficulty selling these homes and was very frustrated. I didn’t understand the market and built homes that were great, but simply weren’t good enough.  If I had spent another $10,00 on each home, I would have gotten my $80k that I was asking for.

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So what are the mistakes to avoid when building a new investment home to sell? Which areas can you cut back costs and which ones you shouldn’t? I leant the hard way. I built 2 brand new homes that look fantastic, but the final finished product failed to impress.

First mistake
Why did I build a home that is 2.4 m high cleaning rather than 2.7m or 3.0m? I wanted to save money and thought that my home was going to be fantastic with the spacious dining area and lounge.

Homes that are 2.4m are too short and uncomfortable at times, especially people over 6 foot tall and especially in summer. Short ceiling means it gets hotter faster.

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Second mistake
I built a home with a single fronted garage rather than a double garage. Even though my single garage was drive through, and could park 2 cars, people still weren’t happy with the product. The land was narrow, but I could have squeezed out the bay window and placed in a smaller type window, and have room for a double fronted garage.

Third mistake
I placed in a spa bath, when really I could have placed that money in making the home taller. Even though spa baths are a nice to have, most of the time this doesn’t increase the value of your home.

Forth Mistake
I bought a land at a T- junction. Many Asian people do not like T-junction because it is believed to bring them bad luck. Homes at T-junctions have bad Fen Shui and people do not like homes located at T-junctions.

Fifth mistake
I built a home but didn’t replace all the old fencing panels. So this made the home less appealing to new home buyers. When people buy a home, they want everything new. They are paying good money for these homes and they have the right to be fussy.

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Sixth mistake
I bought woodchips that were cheap and brown in color. People like reddish woodchips because it is attractive and brings life to the garden. It also adds color to the home.

Conclusion

You can see that sometimes taking shortcuts to save yourself $10,000 can in the end cost you $80,000 on the property market.  I hope you can learn form my experience and have better luck.