Sorry guys, now totally confused [blink]
But one thing I do know we are ALL DIFFERENT thats for sure..
Well, I am with Monopoly and Kay on this one. I would never buy an IP that I hate, even though the numbers might add up. (I love purple too, hehe).
I don’t want things in my life that I don’t like, generally, and I’m not making an exception for IPs. It’s such a nice feeling to be proud of all that you own, why do with less?
I love the quality, the smell, and the touch of things, and also the vibes.
THe IP we bought last year has quality polished cypress floorboards throughout and I just love the ‘yesteryear’ smell of the property, the beauty of the place, the friendly atmosphere…Hubby & I had one last look (& champagne on verandah) of our holiday house this morning, and yes it has a purple bath, and vanity. I’m not sure if it is the purple bath or the stunning Lake Macquarie waterfront but we’re sure going to miss it. Settlement is on Wednesday.
eljay
Hi Marisa,
Just to recap; yes people are all different, and as such they will buy for different reasons. However, it is imperative, regardless of the reason for purchase, that you do your homework and crunch the numbers before signing on the dotted line!!!! Applying a little TLC and making a few repairs to bring a property up-to-speed is okay, albeit can be costly, but so too can a property that although it may not need any work done the asking price is way too high to begin with. So many factors need to be taken into account, not just condition i.e. location, access to transport, CG potential and so on. Some emotion is fine (within reason) but too much heart can impede on the hip pocket!!! Cute is nice, but it don’t pay the bills!!!!
Cheers,
Jo
It is important to me that my IPs be appealing. (after deciding the figures add up). If there is an oversupply of available properties, I want to ensure MY properties are not vacant. My two are pretty queenslander homes and I’d be happy to live in either.
Also I believe it is the woman (usually) who has final say over where the family lives. We women want to LIKE where we live, and we like it to look pretty.
so yeah, aesthetics are important to me.Marc – you have gone off on a tangent, in terms of the role emotion plays in the decision making process.
The “subconscious” plays its part of course – as it does in any decision, but when it comes to investment decisions [as per the question] it is more black and white.
Investment strategies are either contingent upon the numbers – regardless of what the property looks like or the amenities it offers.
Or the investor will “consciously” ignore what the numbers tell them and purchase for other reasons.
If emotion “dictates” the decision making process [a conscious decision] then the risk factor increases ten-fold.
Those who make a conscious decision to let the numbers determine whether an investment is good, mediocre or bad, control the risk component and generally fast track their way to independent wealth.
— Michael
“aesthetics are important to me”
Don’t confuse an attraction to cosmetic features as an emotional decision.
If the property features quality/attractive fixtures and finishes and it is in a good location, then these factors are listed in the [+] column in terms of feasibility.
“If there is an oversupply of available properties, I want to ensure MY properties are not vacant.”
A potential “oversupply” of similar properties in close proximity should counteract cosmetic features and weigh heavily in the [-] column.
Aside from trying to maintain vacancy, oversupply will generally lead to zero or negative capital growth until demand again exceeds supply.
My recommendation is to not acquire any property where oversupply is possible – if you can afford to retain the home/property eventually it may generate a return.
But the “opportunity cost” – inability to put the money retained in the property to work, will put you ten steps back as an investor.
— Michael
OK Minimogul is right get the numbers and get someone else to do the looking at the property. When you are new you have to touch it, once you have done it a few times you have to see an image only, finally when you are comfortable its only a houses numbers that matter.
Wife and I bought a house in Jan in tassie, still havent seen it or need to. Its $27k heavier than we bought it but at this stage we are very happy.
good luck all
DD
Don’t sweat the small stuff,and it’s all small stuff!!
Yep DD, I’ve bought sight unseen, but it still has to be beautiful :o)) Photos help. I would buy sight unseen again- thinking first about the numbers (I check out the less than 200k IP’s on realestate.com.au- if I only went for beauty, I would be checking the million buck properties, but I can’t afford *that much* beauty- only a little bit). After the numbers work, I see if it physically pleases ME. My purchase- mine mine MINE! So I want it to look good
kay henry
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