Warwick Brookes – Buyers Agent

I recently returned from a trip to Bali where a local Balinese man was trying to sell me a genuine Swiss-made watch. I told him that this was not a genuine Rolex, it was a copy. To which he responded: “No — same same, but different.”

I was in Bali for a conference, and I was in the real estate mindset. So it got me thinking, that in real estate terms, particularly in relation to selecting and purchasing an investment property, same-same is different. That difference can be significant when it comes to you achieving your financial goals, and most importantly your bottom line.

Any two properties may appear to be the same, or very similar. They might have two bedrooms, a bathroom, carpark, a balcony, and be located in the same suburb, but they can also be very different. Key differences include the orientation of the living area, the outdoor space, the age, construction, and condition of the building. What is the streetscape like? What is the footprint of the property like? The combination of these not so common criteria has an impact on the rate of annualised capital growth for that property. And this is what we determine whether you have purchased a performing property or a non-performing property.

Do you know what the difference between owning a property valued at $1,000,000 with an average annual compound capital growth rate of 5% and 7% would mean to you over 15 years? The difference is $680,000. Getting this right could be the difference in retiring early or not — or leaving your grandchildren or your children with an inheritance or not.

So what does $680,000 mean to you? Think about this for a moment. Once you’ve worked out what you will do with the extra money, give me a call on 0412 340 611, and we can discuss how I can help you purchase the right property.