Andrew and Irene (mid to late thirties) have three teenage children. They had lived in their home for fifteen years, but were ready to upgrade to a bigger property, it had become rundown and lacked the space needed for their family.
They had spent a large amount of money and effort maintaining the property, and wanted a new property that they could move straight into and that would be easy to look after.
The family loved the area they lived in and because the property had tripled in value since they bought it, they could afford to knock it down and build a new home! Our property investment consultant helped them choose a reputable builder who we liaised with and managed throughout the build process. We also arranged for a solicitor to advise Andrew and Irene regarding the contract.
A building inspector was arranged to give the house a thorough check-over before the property was handed over to Andrew and Irene.
Their decision involved some initial costs – they had to borrow $600,000, take out a mortgage and pay for a rental property for a year while construction was underway. However, when finished their new home was valued at well over $2,000,000! And to top it off, they didn’t need to change their address.
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