By Graham Goodisson
Listen in as Graham shares his property purchasing insights with a younger, less-real-estate-savvy version of himself.
It’s obviously a little unfair to answer this question being that I am a different person now, however, it’s an interesting window into some of the key lessons I’ve learnt working in the industry over the years.
So, for starters, I would not be so conservative with that first purchase. I would push the envelope so to speak. Why? Well, because lots of the terrible things that might happen tend not to (obviously this is not financial advice to act on and, please, do see my lawyer!).
Another factor that I overlooked was not knowing how the house needed to work for young kids. This was unfortunate as my first son was born three days after we moved in. I would value drive-on access above all other things—because, with a young family in Wellington winters, drive-on is a gift.
I would value sun more. I would visit the house I was interested in at different times of the day and on windy days! Basically, more than just at open home times.
I would buy as soon as I could—not delay it. If it’s possible then make it happen.
I would avoid the trendy Resene colour-of-the-day when renovating. All tenants that followed hated the yellow walls and polished floor boards (they wanted carpet). I would also know that renovating bathrooms and kitchens does cost more than you think so, if I had a choice, take the house with those things done.
I would also now know that all house reno’s do need consents!
Luckily, I didn't know any of the above and just ploughed on regardless, its amazing how you make it work.
Graham Goodisson is a Registered Financial Adviser with Velocity Financial. No investment decision should be taken based on the information in this blog alone. A disclosure statement is available free of charge upon request.