Building a new investment property can be one of the smartest ways to grow your portfolio – but there’s definitely a learning curve! From picking the wrong builder to blowing your budget, property investors often fall into expensive traps that delay projects and cost thousands.
The good news? Most of these mistakes are totally avoidable if you know what to look out for.
In this video, Kate reveals the most common mistakes property builders make and exactly how to avoid them. You’ll discover the red flags that could save you thousands and learn insider strategies for building a profitable investment property.
If you’ve enjoyed this video then you might like to subscribe to our YouTube channel, or browse through our latest videos.
If you’d like entirely independent and unbiased advice that’s right for your unique situation and goals, then get in touch with us today.
Building a brand new investment property can be one of the smartest ways to grow your portfolio but like with everything there’s always a learning curve.
From picking the wrong builder to blowing the budget, property builders often fall into traps that can delay projects and cost thousands.
The good news, most of these mistakes are avoidable if you know what to look out for.
So let’s walk through some of the most common missteps and how to stay well clear of them.
Are you ready to make smarter property investment decisions?
Hello there.
I am Kate Hill, qualified property investment adviser, and I am here to help you cut through all that noise out there with some honest, no hype advice.
If you want real strategies, real tips, zero fluff, you are in the right place.
Today, I am going to be revealing top mistakes that property builders make and how to avoid them, so stay tuned.
Now it’s tempting to go with the lowest quote, especially when you are looking at six figure costs, but not all builders are created equal like with every professional out there.
A builder offering a too good to be true price might be cutting corners on quality, using lower materials, missing some really key inclusions.
Channel your inner Sybil Faulty from the sitcom, Faulty Towers, when she said, you get what you pay for, for, Basil.
Look at a reputable builder with a proven track record, good communication, transparent contracts, and solid reviews.
Ask about timelines, warranties, builder quality, and what’s included in the base price.
And always, always get your own independent legal advice.
Some builders offer base prices that do not include key features like driveways, fencing, floor coverings, air con.
These missing items can add up fast and push your project over budget.
Get a fully itemised quote.
Know exactly what’s included and what is extra.
Ask for a fixed price contract where possible, perhaps, to avoid nasty surprises later on.
Like with everything, not all land is equal.
A cheap block might be cheap for a reason.
Poor orientation, expensive site works, bad soil, zoning restrictions, all can impact your design and rental appeal.
Do your due diligence.
Work with professionals like us who will assess.
We assess land quality, slopes, soil reports, service connections, the surrounding amenities.
The land has to support a home that suits the area’s demographic demand.
Building a good quality investment property is one thing.
Building the right home for the right suburb is key to rental demand and future resale value.
Many builders often choose floor plans or inclusions that don’t match the local market.
You might have more insight than they do.
Do not make assumptions.
Research what local people in the area actually want.
How many bedrooms, what layout, yard space, finishes.
Design that property to suit the local market, not your personal taste.
You might never live in it.
Building isn’t a quick process.
Delays can happen due to weather, council approval, supply issues, labor shortages.
Many builders underestimate, on purpose, how long things take, leading to frustration or financial pressure.
Plan for delays.
When you’re an investor, make sure your cash flow can handle the period before the property is tenanted.
Use a timeline buffer and stay in regular contact with us or your builder to monitor progress.
Building an investment property in the current property market is, to me, totally the way to go.
It doesn’t have to be stressful, it’s not an advanced strategy, it doesn’t have to take forever.
If you surround yourself with the right experts and ask the right questions and do your homework, you will avoid a lot of the common pitfalls and end up with the top quality asset that performs well long term.
Remember, it’s not just about building a house, it’s about building a really solid foundation for your investment future.
As always, everyone, thank you for watching.
Please do subscribe.
I really appreciate it, And I will talk to you all soon.
Bye for now.
Building a brand new investment property can be one of the smartest ways to grow your portfolio but like with everything there’s always a learning curve.
From picking the wrong builder to blowing the budget, property builders often fall into traps that can delay projects and cost thousands.
The good news, most of these mistakes are avoidable if you know what to look out for.
So let’s walk through some of the most common missteps and how to stay well clear of them.
Are you ready to make smarter property investment decisions?
Hello there.
I am Kate Hill, qualified property investment adviser, and I am here to help you cut through all that noise out there with some honest, no hype advice.
If you want real strategies, real tips, zero fluff, you are in the right place.
Today, I am going to be revealing top mistakes that property builders make and how to avoid them, so stay tuned.
Now it’s tempting to go with the lowest quote, especially when you are looking at six figure costs, but not all builders are created equal like with every professional out there.
A builder offering a too good to be true price might be cutting corners on quality, using lower materials, missing some really key inclusions.
Channel your inner Sybil Faulty from the sitcom, Faulty Towers, when she said, you get what you pay for, for, Basil.
Look at a reputable builder with a proven track record, good communication, transparent contracts, and solid reviews.
Ask about timelines, warranties, builder quality, and what’s included in the base price.
And always, always get your own independent legal advice.
Some builders offer base prices that do not include key features like driveways, fencing, floor coverings, air con.
These missing items can add up fast and push your project over budget.
Get a fully itemised quote.
Know exactly what’s included and what is extra.
Ask for a fixed price contract where possible, perhaps, to avoid nasty surprises later on.
Like with everything, not all land is equal.
A cheap block might be cheap for a reason.
Poor orientation, expensive site works, bad soil, zoning restrictions, all can impact your design and rental appeal.
Do your due diligence.
Work with professionals like us who will assess.
We assess land quality, slopes, soil reports, service connections, the surrounding amenities.
The land has to support a home that suits the area’s demographic demand.
Building a good quality investment property is one thing.
Building the right home for the right suburb is key to rental demand and future resale value.
Many builders often choose floor plans or inclusions that don’t match the local market.
You might have more insight than they do.
Do not make assumptions.
Research what local people in the area actually want.
How many bedrooms, what layout, yard space, finishes.
Design that property to suit the local market, not your personal taste.
You might never live in it.
Building isn’t a quick process.
Delays can happen due to weather, council approval, supply issues, labor shortages.
Many builders underestimate, on purpose, how long things take, leading to frustration or financial pressure.
Plan for delays.
When you’re an investor, make sure your cash flow can handle the period before the property is tenanted.
Use a timeline buffer and stay in regular contact with us or your builder to monitor progress.
Building an investment property in the current property market is, to me, totally the way to go.
It doesn’t have to be stressful, it’s not an advanced strategy, it doesn’t have to take forever.
If you surround yourself with the right experts and ask the right questions and do your homework, you will avoid a lot of the common pitfalls and end up with the top quality asset that performs well long term.
Remember, it’s not just about building a house, it’s about building a really solid foundation for your investment future.
As always, everyone, thank you for watching.
Please do subscribe.
I really appreciate it, And I will talk to you all soon.
Bye for now.
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