One thing that I always do when looking at any type of new property is to get the camera out and take a lot of photos. It’s great to have a visual reminder of what you’ve seen and with digital it’s also usefull to have dates that the photos were taken. This has been particularly handy when I look back over the time that this new build has been in the pipeline. Amazingly, sifting through photos reminded me that the very first steps on building from scratch were taken over 2 years ago in early 2013. It had been around 12 months since the last property purchase and that’s usually around the time that I start to get itchy feet and think about what the next step could be to expand the portfolio. As I mentioned in the last post there are a number of attractive options about buying off the plan and it was exciting to think about trying something new and learning about the construction process rather than simply another established property. So it was time to get out and see what options were available.
When an agent is marketing a new development they will often have lots of nice glossy brochures with lovely architectural drawings of brand new homes surrounded by lush landscaping and beautiful, well established trees. Whilst these pictures look nice, it’s important to see some real-life examples of similar projects. In January of 2013 I spotted a new project that looked promising and the agent was able to take me to view a similar project (by the same builder) just nearing completion. The new project designs were very similar to the one I was interested in and as you can see from the attached pictures it’s useful to be able to view the finished product from the outside as well as the finishes inside.
Having seen some examples of the finished product it was then time to go and view the proposed site of the development. One thing that is not uncommon in this area is to see older homes on massive blocks of land where the owner sells off the majority of their land to a developer and remains in their original house. This was what this proposed development was and unfortunately I’m just not a fan of it. You end up with a bunch of new homes sitting in what was the back yard of an older house and you have a narrow driveway going down the side to access the residences. Also, the old house in the front of this development wasn’t an architectural masterpiece and the actual location of the development was right on the edge of town. It just wasn’t quite what I was after. The quality of the properties, yes; the location and project layout, unfortunately not.
So although it was back to the drawing board (to an extent) it certainly wasn’t a waste of time. I had a good idea of what you could get for your money, the quality of the product and also what I was after as far as layout of a development.
Fast forward 10 months…