Building an investment property isn’t quite the same as building a property that is going to be your family home. Instead of only thinking about what you want from your new build, you need to consider what a potential future tenant will want (without knowing who they are!).
The right investment property is subjective – it’s certainly not one size fits all. From townhouses to single-level and double-storey homes, there are many options that can fit a variety of budgets and property investment goals. Choosing a home design for your investment property that will satisfy renters and/or grow in value for resale in the future can be achieved with thoughtful decision making.
Think of your future tenant
Generally speaking, you won’t know who will rent your investment property until it is already built. What you can do is approach the build of your investment property by getting equipped with the facts.
The type of home you build will likely depend on the location in which your investment property will be built, so find out what people are looking for in that area. What kind of properties are in demand? Is there a shortage of four-bedroom homes? Use this sort of information to inform your own decisions.
Keep it simple
While it may be tempting to do something wild to stand out, broad appeal is essential for a successful investment property. For example, neutral tones can be appealing to future tenants as they can add their own unique flavour to the home. Extra points for keeping things easy-to-clean and maintain. This will contribute to a positive resale process down the track too.
Simple doesn’t mean poor quality or taking shortcuts. High-quality fittings and fixtures convey a sense of luxury and ensure that your investment property is finished in a way that will stand the test of time.
With both design and construction in mind, quality goes a long way and doesn’t need to break the bank. Not only will potential renters love your focus on quality, it will make a huge difference to resale value in the future.
For your investment to be a success, you need to minimise your costs and maximise your returns. We value affordable quality; we invest in quality materials and processes rather than fancy marketing campaigns. As a result, you get more bang for your buck.
With our fixed price up-front contracts, you can rest easy knowing there won’t be any nasty financial surprises down the track.
And for a limited time, your investment property just got a lot more affordable. Our Hi-Lo sale offers incredible savings across our beautiful Bridgewater range. Enjoy our lowest base prices, with single storey homes from as LO as $149,920 and double storey homes from $227,329. (The HI value and quality that we’re known for comes as standard.)
The right investment property… for you
Remember, there’s no such thing as the right investment property — only the right investment property for you.
Ask the advice of family and friends and of course, consult with professionals. And then, make decisions based on your property investing strategy and what you can afford.
Get in touch and let’s chat about your property investing goals and how we can help you achieve them.
The information contained in this article is intended to be of a general nature only. It has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on this information, Fairhaven Homes recommends that you consider whether it is appropriate for your circumstances and that you seek independent legal, financial, and taxation advice before acting on any information in this article.