Taking the time to design your own home and making it work perfectly often forms a strong emotional bond with the property. That’s definitely the case when you see how incredible your new home looks and feels, so it’s unlikely that you’ll be building and then moving on just a few years down the track.
Give it a decade, and that will probably not be the same. Your family could have grown drastically, or the kids might have moved out to pursue their own lives. That leaves you needing to sell your precious home, and sellers should be planning for this eventuality when they decide exactly where they are going to build.
What areas are showing the best returns?
The CoreLogic RP Data Pain and Gain Report from December last year shows just where capital gains are being made – and some of them might be a bit of a surprise to you.
According to the report, 96.9 per cent of all properties sold in Manly last year showed a profit for sellers.
According to the report, 96.9 per cent of all properties sold in Manly last year showed a profit for sellers. The average length of time that a home title was held for was 11.3 years, and the median gain amount was a whopping $605,000! Hold onto that new Sydney home just a little longer and you’ll be sitting on one heck of a cash cow.
Even in Parramatta, you can build with G.J. Gardner Homes and be fairly confident in the fact that just 10 years down the track, you could be sitting on capital gains of almost $300,000.
Outside of the biggest city in the country, there are still fantastic returns available to the astute home builder. The Mornington Peninsula in Victoria has experienced very successful growth for sellers in the last year, with 96.5 per cent of all homes turning a profit – the average being a welcome $216,500.
How can you make the most of the current market?
CoreLogic’s monthly indices show the median house price in Sydney is over $1 million – your new G.J Gardner Homes design will be much more affordable than that. Plus, nobody else will have stamped the home with their own personal touches either, so you’ll have a clean slate to work with!
If that sounds like the perfect situation for you, and you’ve thought about how advantageous capital gains would be down the line, get in touch with the team here at G.J. Gardner Homes to discuss the best options for your home design.