Is it possible to add value to a new such as house and land package?
What do you think landscaping would add to a property?
I dont think there is any opportunity at all to ad value to a new house and land package.
Luke.
I think Landscaping does help. Decking areas can add a lot of value as well.
You would probably be able to add some value to a house and land package- but not enough to purchase a new house for the sole reason of adding value as it is very unlikely that you will ever ba able to add enough value to cover opening costs, closing costs, holding costs while leaving enough profit to make it worthwhile.
Luke.
Hi Lizard,
New homes have quite a limited scope when it comes to value adding. It also depends on to what the finish the build is, basic shell or turn key. Also, new houses in areas are often built to a similar spec, so try and avoid over capitalising. Some ideas can include:
– Landscaping (mentioned before)
– Display furniture (if selling)
– Curtains & window treatments
– Personalising the painting if everything is just builder's white
– Picket fence out front
– Down lights (increased lighting in kitchen/living areas)
– Fresh MulchAgain, a lot of these will have a limited impact and all depend on the area.
What do most investors purchase? They mainly purchased established properties so they can manufactured their growth on their IP. In new properties, you can cosmetically renovate but it is insufficient to manufacture enough growth for deposit for next IP. So stick with established properties if you want to fabricate your CG in this kind of market.
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