Many property investors skimp out on the finishes of their investment because they see it as an added expense that will only undergo wear and tear anyway.
Many misinformed property investors see a ‘spade as a spade’ in the wrong context: They will see a two bedroom apartment as a two bedroom apartment, and a four bedroom home as a four bedroom home.
The issue with this is that there are homes that will appeal to owner occupiers (typically 70% of purchasers) in the resale market and others that are clearly ‘low-end investor’ constructions that will only appeal to another ‘low-end investor’.
Furthering this problem is that these lower-finished properties tend to be surrounded by equally undesirable homes. I.e., an undesirable apartment is likely in a block of undesirable apartments. An undesirable home is likely among other undesirable homes. This will have a direct influence on who does and who does not attend the open home in 15 years to come.
Luke Graham
Property Investment Manager
Omniwealth Property
t: 02 9112 4300
m: 0429 472 427
luke.graham@omniwealth.com.au
www.omniwealth.com.au