We saw buying property as a way of saving
Marcus & Roslyn Jinks
Accountant | UK
Marcus and I have made plans to move to Australia in five years time, we have our VISAs approved and just needed to stay in the UK for a little while longer. Even though we weren’t moving immediately, we wanted to get into the property market as quickly as possible as we knew that prices would just keep going up and weren’t sure what the salary transition would be.
We decided to start looking for a property which would be our new home or if on the off chance we didn’t move over, it would become an investment property.
Not long after we signed up with Property Wizards, I was made redundant and Chris and I also just found out that we were going to have a child. We panicked and wanted to pull out of buying a property in Australia.
We discussed the pros and cons heavily but decided to pursue the purchase anyway, we couldn’t decide if we were being mad or wise. Our friends certainly thought we were crazy employing people we had never met in a country we hadn’t been to, to buy a home for us, nevertheless we went along for the ride and it all turned out wonderful. It also didn’t take me long to get a new job either.
Chris and I had about 20 – 25 criteria that any property we wanted to purchase had to meet. We definitely wanted to buy a property near the beach and within close proximity to the city – this was important for us, for both lifestyle and work choices. From research we were aware that buying on the coast close to the city was way out of our budget.
The Property Wizards team was sure that they could find us something that we would like.
We ended up buying a lovely home on a corner block in the second suburb back from the beach and still quite close to the city, 2km from a marina and near all the facilities tenants look for. Plus it was in our price range. We were sent a load of photos so we could basically see every nook and cranny of the home which is great as it really did give us a great feel for the property.
We were so happy with that, but we got an added bonus with the property, something that we would never had expected nor knew about.
The block we bought had the potential to be a duplex block, so we were getting two homes in one if we chose, which would unlock further profits for us in the future.
As the block we bought is a corner block, once the subdivision is completed, we will have two street facing blocks which will give us a better sale price than if it had been a rear subdivision.
Our property was on the market for $399,000, which was less than similar single homes without the potential to subdivide and we secured the property for $362,000, that is a saving of $37,000.
Since we owned the property, it has been leased out and run by a property manager recommended by Property Wizards, so once again working with Property Wizards has been beneficial as we didn’t have to go through the whole process of selecting someone we could trust.
At the end of the day Chris and I are extremely happy with both our purchase and buying experience, as well as the outcomes since. We saved on the property, satisfied all our criteria, received an added bonus with our block which will give us more financial gains in the future and we have been able to recoup money on the investment while we are in the UK by renting it out, taking a leap of faith in our uncertain situation has worked out extremely well for us, we are so happy with our whole investment experience.
Want to invest in property? We’d love the opportunity to help build your wealth as an Australian property investor. To set the wheels in motion, please fill out our no obligation enquiry form – this gives us an insight into what you’re looking for. Alternatively, you can contact our property investment advisors directly on (08) 9381 7450.