For most people looking to build a luxury home, the goal is to create a place to raise a family or enjoy your lifestyle. however, there’s always the underlying pressure to make wise financial decisions. Will your property return a profit when you decide to sell?
There are two ways to ensure a good capital gain further down the line. The first is choosing the right builder to help you create a timeless home that is attractive and functional. The other is to build in the right area. According to the latest research from CoreLogic RP Data, houses in Perth are doing particularly well.
On a national scale, home owners have to hold on to their property for 10.3 years on average to make a gross profit on sale. in Sydney it’s 10.6 years. However, in Perth, the average is as low as 8.9 years. This means that if you do decide to sell your custom deigned house in the future, you won’t need to wait as long to make good on your investment.
Of course, you don’t want to simply get your money back – you want to be better off. Over the March quarter, CoreLogic RP Data reports that 94.4 per cent houses sold in Perth made a profit, beating the national average of 92.3 per cent. What’s even more impressive is that 42.6 per cent of people that sold their home in Perth over the last quarter doubled their money or better. This is the highest rate of homes selling for more than 100 per cent profit out of all the capital cities.
So, you’re in the right location, and you know which premium builders to work with – what’s next? Purchasing land could be at the top of your agenda, and the Real Estate Institute of Western Australia shows that there is no shortage in the Perth metropolitan area, with 2,150 blocks listed for sale in the week to June 17.
For help choosing appropriate land to build your custom designed house on, talk to Exclusive Residence, Perth’s luxury home builders, today.
