My first property investment

My first investment - a 2 bedroom villa unit was also my home, my principal place of residence for a few years. 

It wasn’t my ideal, perfect, forever place but I was willing to compromise my current lifestyle at the time for future benefit.

That was part of my goal.

I bought well and knew I did from the beginning. 

Although it was in Brunswick West which was/is prolific with 1 and 2-bedroom places, I knew mine would hold value.

Particularly when friends told me I overpaid.

It was 15 years ago, a good build, at that point 7 years old, single level, had a lock up garage and northern living orientation with sliding doors from lounge to courtyard which essentially opened up the otherwise smaller lounge. 

It felt like a beautiful place when walking through the front door and I knew that tenants or another owner would feel the same love.

It was smaller living than what I wanted, on a declining slope on land, just that little bit too far to walk home at night from meeting friends out for a bite.

What it did have was; my price range; works for me today (it’s appealing) and for someone else tomorrow; good location nonetheless; practical; did I mention, bathed on northern light and last but not least, very quiet neighbourhood.

With residential (and commercial) property, you will always hold great value in purchasing a property that suits what you need (investment or lifestyle) and someone else would love to occupy.

Be clear about what you want and why you want it and keep in mind to always buy for demand.

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