You could have a pot of gold in your backyard

Finding the potential pot of gold in your own backyard can be a simple and financially rewarding project for many Perth homeowners.

Recent zoning changes may allow you to unlock investment opportunities in your own property by retaining your current home and building a house behind it, or even demolishing and building a duplex or multi-unit development.

If this applies to you, you may be able to unlock the development potential of otherwise unused land rather than maintaining a large yard that is becoming less appealing to many Perth homeowners.

The retain and build option has the potential to be not only extremely profitable but is also within reach of many first time or repeat property developers.

You are likely to be able to continue living in your existing home during construction and then move into your new home and sell the original dwelling or rent it out for a long term passive income. You could even then decide to knock down the original home and rebuild another new dwelling/s to futher enhance your financial returns.

This may be a much better option than selling up to downsize or upgade to a newer home.

There can be some fantastic tax advantages to be had by maintaining your principle place of residence and potentially avoiding capital gains tax, which should be discussed with your tax accountant or financial advisor. 

Contact us and let us show you what is possible.