Want more value out of your property investment?
The Australian love affair with property is ingrained. We all know people who have found financial security through property ownership and investment. Low interest rates and a heated market have led more and more Australians into property investment - around nine per cent of the population. We are buying homes, we are buying investment properties and now we are moving into the third stage: we are improving our properties.
But to maximize your investment you need to do more than the typical cosmetic renovations which are so popular in television shows. The real profit lies in transforming your property through adding value - as an active investor you might simply add another bedroom to your home, or you might look at converting one dwelling into two and subdividing.
There are many different strategies which people are using:
* Subdivide your home block, build a couple of smaller homes, live in one, sell the other and pay off the mortgage.
* Change the use of a property from residential to commercial and increase its value.
* Take a small block of flats and strata-title them.
* Re-configure a strata block to turn common property into private areas: gardens, courtyards and roof tops.
* Improving the value of apartments by changing the floorplan.
* Re-shaping a property for the retiree market with a focus on access, storage, security, privacy and safety.
* Tricks for creating more car spaces.
Outlining all the options open to the first-time property developer, Peter Cerexhe shows how you can squeeze more value out of your property.
Section I: Improving your investment
1 Why me? Why not me!
2 Strata apartment solutions
3 Developing a house
4 Medium density housing
5 Changing the permitted use
6 Subdivision: drawing new lines on the land
Section II: Working with your experts and the Council
7 Seeking Council approval
8 Working with your designer
9 Working with the builder
Section III: Money and risk
10 What will it cost me?
11 Getting out of trouble
12 A final word: motivation
Resources, reading and contacts
Glossary of terms
Number Of Pages: 240
Published: 1st March 2004
Publisher: Allen & Unwin
Edition Number: 1