Pete Wargent
speaker
553 appearances
2 recordings
1 series
first heard Oct 2022
last heard Jan 2023
Pete Wargent’s voice in public audio — every appearance, attributed to the second.
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Appearances
I think, and I'll probably make a few enemies by saying this, but generally, it's a very general rule.
Yeah, probably get a few developers on my case now.
But if you buy brand new property, that statistically works out worse for people because you tend to pay a premium to buy brand new.
It's tempting because everything's shiny and new and everything works and it looks the goods.
But actually...
if you buy off the plan or buy brand new, you're more likely to make a loss on resale.
That's not just an opinion, statistically.
Because why buying a new car?
When you come to sell in a few years' time, it's not new anymore.
And we see that with apartments too, right?
A lot, yes.
And especially in Melbourne, Brisbane, there are people buy brand new off the plan, you know,
So it's a bit of a shiny toy syndrome as well.
But when you sell to the second user, it's no longer a new property.
So yeah, generally buying established has less risk involved.
And I think that, yeah, the big thing is really the due diligence.
And generally, if you look at it in terms of types of property, well,
I guess there's an old adage in property that sort of land depreciates and buildings depreciate, which if you take that at face value, you probably want to buy properties with a reasonably high land to asset ratio.
If you buy out, take an extreme example, buying out in the boondocks, you're just buying bricks and mortar.
Now, there's no land value.
Showing 361–380 of 553 · page 19 of 28
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