Brand New AirBNB Property Owner-Occupier
TOUGH MARKET BUT OH WELL....we managed to get a deal. Purchase #51 by Easy Buyer's Agent for our owner-occupier/investor client residing in regional area who will be living in it whilst he is in Perth, and AirBNB it when he is away. Asking: $450,000 with standard builder finishing. Purchased: $445,000 including extras such as ducted aircon, mirrored sliding wardrobe in all bedrooms, 900mm oven and roller window blinds. Read on.
This is our client's 2nd purchase with us since having a very successful AirBNB run with the 1st purchase.
Finding owner-occupier/investment property is never easy. Finding just owner-occupier property alone is already tough, let alone the one that also has good investment returns. Emotion and numbers definitely clash. We have been presenting several properties to our Buyer, however, none of them have ticked all the boxes. They want property that has modern luxury finish and feel (which can only be found in brand new properties), and yet they don't want to pay a high price because it needs to also show good investment return.
With building cost that has gone up substantially, finding good-priced brand new properties is almost impossible. Standard-finished properties are currently for sale for at least high $400s. By the time our Buyer includes all the upgrades it would easily be in the low-mid $500s. But that is what Easy Buyer's Agent is engaged to do, that is to find a matching property that ticks all of our client's boxes regardless how difficult it might be.
As this property will also be rented as AirBNB, location needs to be considered. Our client also wants a 4x2 instead of 3x2 because 4x2 fetches more income (fair enough). Finally, we found this one. A brand new property from a boutique property developer who managed to obtain the building grant before it expired, thus, was able to put this 4x2 + study property for sale in the $450k mark with all the amazing inclusions: high ceiling, stone bench throughout, kitchen cabinets, LED lights throughout. When we saw this, we knew this could be the one.
Located 3km away from Westfield Carousel, 2km away from Langford Shopping Complex, 13.5km away from Perth Airport, 14km away from Perth CBD, with Crown Casino and Victoria Park cafe strip all within 10km radius of the property, we knew this property definitely has a great potential for AirBNB. We negotiated and we managed to get the seller to include $15k worth of upgrade: ducted aircon, 900mm oven, roller blinds and mirrored sliding wardrobe in the deal and still negotiated $5k down from the asking price. Similar brand new properties (4x2 + study with all the inclusions) will easily set you back $520k+ in this current market.
Looking to buy property in WA? You know who to call. If you get tired trying to find deals in this rising market, handball the stress to us. We promise to find you a matching property that ticks all your boxes and shelter you from all the stress. Let's chat property and until the next purchase. Peace.