And it got me thinking…… about building inspections.
What if buying a “lemon” got you into the housing market?
What if buying a “lemon” got you into the best street in the suburb?
What if buying a “lemon” gave you the chance to build up some equity quickly so that you could begin renovating? Or sell and upgrade?
What if buying a “lemon” gave you the chance to utilize your new found building skills, your newly acquired carpentry certificate? Or that Dad, with his plethora of skills, is ready to lend a hand with the renovations because he has can’t wait to see you established in your first home?
What if you have some property ownership experience and see a “lemon” as a golden opportunity? As something you can capitalize on because others just “see” problems? That a few cracked stumps, an old rusty roof, peeling paint, an original bathroom and kitchen with orange and mission brown finishes or tilux on the walls is not the end of the world.
I get excited when I see this. I see opportunity. My mind buzzes with ideas, with a vision of what could be. Money? Yes money needs to be spent but keeping things in perspective could mean the difference between buying a money pit or buying that opportunity. Get great practical advice. And I mean, practical. Sometimes mum or dad may not give you the best advice because they have concerns for your financial security. Listen to what they say but seek some independent advice if you are seeing opportunity here. If you know in your gut that the location is a winner, that it is getting you closer to the CBD where values will hold and more likely improve, that the bones are solid, that the block is good, then it could be worth pursuing. Particularly if you have established that the price is right for what you are buying. This you can confirm if you have a good rapport with a reputable agent. That agent should be selling you the area values with enough supportive evidence and not just flogging you a house to get themselves a deal.
Thinking about where you are in the cycle of your life may let you see how you could make a “lemon” turn into a gem. Are you child free, full of enthusiasm, capable, handy, have great support or just someone who loves a challenge? Next time someone begins to talk a property down, why don’t you think about how you could make it work for you. Your clever ideas, your ability to see beyond the negatives may mean you will come out a winner. Someone will buy it. Can you find the gold inside?