Making good money in real estate has always been about those two age-old adages; you make your money when you buy, and, position position position. Easy to flow off the tongue but harder to actually put into practice! In the stock market, the trick is to get the inside information before the IPO, and then act quickly if your homework looks promising. With houses, a similar strategy can also be applied. Keeping the finger on the pulse of pending changes to rezoning laws, the introduction of new transport hubs or shopping centre makeovers, all add significant value to the surrounding real estate, bringing opportunities to buy-in before the inevitable price rises. And, then there is one other equally worthwhile tactic, but one that is sometimes harder to track.
New prestige, beachside or integrated residential developments always launch with a huge fanfare and premium prices but are rarely advertised or publicly known until sales are actually available. Surrounding and adjoining suburbs and individual properties will often benefit from huge increases in value simply by virtue of location alone. Find out where and when the new premium developments are happening and buy just next door. A brilliant and successful tactic almost guaranteed to deliver sensational capital growth.
Only 35 km south of Fremantle, (roughly the same distance as Joondalup Golf Club is north), the long-awaited Kennedy Bay premium beachside residential development is rapidly taking shape. A $425 million integrated community with a new golf clubhouse and tavern, a retail village centre, boat ramps, and recreational facilities will all support a large range of residential living options. The clubhouse is virtually complete and land sales are scheduled to begin in 2022. But no fanfare yet! However, nestled along the eastern edge of the redevelopment land parcel are existing homes and vacant land, available now, at prices that have still had no hint of the local boom about to happen. This is an opportunity at its very best! A little bit of research and time spent here will pay massive dividends to some smart families.