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The Hear the latest weekly insights into the property market via podcast by Rich Harvey, CEO and founder of Propertybuyer. |
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Success stories
SECURE YOUR IDEAL PROPERTY WITH OUR TRUSTED BUYERS AGENTS IN HOBART
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“Propertybuyer has been incredible in helping us find our dream home in the Eastern Suburbs. We couldn't have done it alone!
Josh and Kelleigh
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No. of properties
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$12M
Total property value
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On paper, it may often seem like a proven strategy that can’t fail – buy any old dump for a bargain basement price, breathe new life into it with an affordable reno, and flip it for a handsome profit. There was a time not too long ago where that was probably the case more often than not. The first two decades of the 2000s certainly saw plenty of that, with many investors keen to get their hands dirty raking in the big bucks.
On paper, it may often seem like a proven strategy that can’t fail – buy any old dump for a bargain basement price, breathe new life into it with an affordable reno, and flip it for a handsome profit. There was a time not too long ago where that was probably the case more often than not.
The current challenges
Covid might be in the rearview mirror when it comes to most aspects of life, but one part of the economy still hurting is the construction sector. It’s facing a whole host of challenges.
High materials costs. A crippling skills shortage. Small and medium-sized builders going bust in record numbers. Low levels of consumer confidence thanks to highly publicised building defects.
You name it, home-building is facing it at the moment. All of those things contribute to soaring costs and a lack of availability, whether you’re building a high-rise apartment building in a CBD or renovating a cottage in a middle-ring suburb.
Where once a renovator could’ve managed a project on their own, bringing together the different trades and materials required, getting timelines to match up is a struggle. In many parts of the country, finding an electrician or a plumber to do the job is tough. In some cases, you can’t even get someone out to quote. There simply aren’t enough tradies around.
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Save time
A buyers' agent can shortlistproperties faster.
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Save Money
Our buyers' agents will negotiatethe lowest possible price.
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Save stress
Don't let emotions cloud yourjudgement.Let your buyers'advocate deal with real estateagents.
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Buy right
Location is everything.Discoverthe facts about the hot spotsbefore you buy.
How to sniff out gold
There are still opportunities out there to buy well. An experienced buyer’s agent who has a good track record in the renovator space can help unearth potential gems and help investors ensure the numbers stack up. Given they’re on the ground in markets day in, day out, they’re also precisely attuned to what a property is actually worth. This can be tricky for investors going it alone to gauge if they’re not on top of the data as it comes in. They can’t be sure that an asking price or auction guide is reflective of where things are at - and where they’re heading.
Buyer’s agents also have vast networks of contacts, which makes negotiating an easier and more advantageous process. On top of that, those contacts can help reveal off-market opportunities that never make it to popular listings websites or the Saturday newspapers. They’re deals that renovators going it alone will never know exist.
Our success Stories
At Propertybuyer, we don't just talk about excellence, we achieve it. Recognised as the most awarded buyers' agency in Australia, our dedication to exceptional service and client satisfaction has been validated by prestigious independent awards programs on numerous occasions.
What's your property worth...
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The estimated market value provided by the "What's Your Property Worth?" tool is for informational purposes only and should not be considered a professional appraisal. For a more accurate valuation, contact Propertybuyer to speak to a qualified property professional today.
RICH's Blog
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