Investing in Sydney property has been very profitable for many successful people. How did they do it?
Buying and selling an existing property is not an easy way to make money. There are huge costs involved and that means that the value of an investment property has to increase by a large amount before a sale will yield a profit after outgoings like, legal fees, stamp duty and real estate agent charges are taken off the sale price. Many people choose to invest in their own new home and have made large tax free capital gains.
Building a new home is not always about profit: it is often about creating a family home to live in for many years.
Traditionally, owning a home has enabled people to have control of their living arrangements and to grow personal wealth in line with the ever increasing rise in property values.
Building a new home is the most popular way to become a property owner. The land is purchased at market prices and the building itself will be constructed at market prices as well. That means that the family that commissions the construction, does not have to pay a premium to enable an investor to make a profit on the transaction.
Having decided to embark on creating a home on vacant ground, there are many choices to be made.
Some decisions are really not decisions at all, as the land itself will often dictate what can and can't be built.
For instance, a steeply sloping site is probably not going to be suitable for a concrete slab and brick type of property. It will suit a pole house in many cases.
In some estates, there are restrictive covenants that specify the type of property that can be built. These rules prevent a rebel owner constructing a weird or inappropriate building that will affect the amenity or property values of the neighbours.
In Australia, brick and tile have been the most popular house style. In the Sydney region, this type of home is in strong demand. No matter what style of dwelling is being considered, one of the first decisions is to choose between a double storey home or a single level design.
One factor to consider is the size of the land. A small size lot will only be useful if a double storey house is chosen as living space will be at a premium. On a large block of land, building a double storey home might also be the best choice so as to leave some vacant space for a backyard garden that can be used for outdoor activities.
Similarly, if a family wants to install a swimming pool, the smaller footprint of a double storey building will leave more space for recreation and entertainment areas.
A double story house will also offer more scope or more opportunities to be adventurous in terms of light sharing voids above some areas. Higher windows take in views and high level patios provide elevated entertaining areas.
One interesting aspect of both double storey houses and single level properties is that it is important to be aware of where the Sun is in the morning and afternoon. Orienting the building so that living areas face the North will reduce energy costs and make life more enjoyable. In some double storey designs, the upper level floor can be extended to shield lower level living spaces from the fierce Summer midday sunlight.
One of the best ways to make a decision about anything related to building in Sydney is to consult one of the best builders in Sydney or Western Sydney to look at their stock new home designs and to gain some first hand advice on local conditions.
Building a new property is a proven way to get the home that you want while acquiring valuable real estate.
Buying and selling an existing property is not an easy way to make money. There are huge costs involved and that means that the value of an investment property has to increase by a large amount before a sale will yield a profit after outgoings like, legal fees, stamp duty and real estate agent charges are taken off the sale price. Many people choose to invest in their own new home and have made large tax free capital gains.
Building a new home is not always about profit: it is often about creating a family home to live in for many years.
Traditionally, owning a home has enabled people to have control of their living arrangements and to grow personal wealth in line with the ever increasing rise in property values.
Building a new home is the most popular way to become a property owner. The land is purchased at market prices and the building itself will be constructed at market prices as well. That means that the family that commissions the construction, does not have to pay a premium to enable an investor to make a profit on the transaction.
Having decided to embark on creating a home on vacant ground, there are many choices to be made.
Some decisions are really not decisions at all, as the land itself will often dictate what can and can't be built.
For instance, a steeply sloping site is probably not going to be suitable for a concrete slab and brick type of property. It will suit a pole house in many cases.
In some estates, there are restrictive covenants that specify the type of property that can be built. These rules prevent a rebel owner constructing a weird or inappropriate building that will affect the amenity or property values of the neighbours.
In Australia, brick and tile have been the most popular house style. In the Sydney region, this type of home is in strong demand. No matter what style of dwelling is being considered, one of the first decisions is to choose between a double storey home or a single level design.
One factor to consider is the size of the land. A small size lot will only be useful if a double storey house is chosen as living space will be at a premium. On a large block of land, building a double storey home might also be the best choice so as to leave some vacant space for a backyard garden that can be used for outdoor activities.
Similarly, if a family wants to install a swimming pool, the smaller footprint of a double storey building will leave more space for recreation and entertainment areas.
A double story house will also offer more scope or more opportunities to be adventurous in terms of light sharing voids above some areas. Higher windows take in views and high level patios provide elevated entertaining areas.
One interesting aspect of both double storey houses and single level properties is that it is important to be aware of where the Sun is in the morning and afternoon. Orienting the building so that living areas face the North will reduce energy costs and make life more enjoyable. In some double storey designs, the upper level floor can be extended to shield lower level living spaces from the fierce Summer midday sunlight.
One of the best ways to make a decision about anything related to building in Sydney is to consult one of the best builders in Sydney or Western Sydney to look at their stock new home designs and to gain some first hand advice on local conditions.
Building a new property is a proven way to get the home that you want while acquiring valuable real estate.
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