Why multiple options are good when investing
“Hello and welcome back to daily buying tips, I’m Dean Berman from Berman Buys.
Today we’re going to talk about, why multiple options are good when investing.
What I mean by multiple options are ways to add value to the property.
If you buy a unit, you will have a few ways to add value to the property.
Whereas if you buy a house you will have more ways.
Namely because you have the land and can change the structure of the house.
Or get an approval and potentially even change the land i.e. subdivision.
Or even add an extra house i.e. granny flat.
Whereas the unit is relatively fixed.
However, internally it can be certainly changed.
It’s these options that can add value to properties in any market in my opinion.
Renovating, developing, subdividing etc…
In the unit you may reconfigure the layout and add an extra bedroom and bathroom.
This can certainly add value.
In the house you may extend and build another level or even knock down rebuild.
It’s these extra options which make houses very enticing.
However, the price point isn’t always achievable in premier locations.
Making the unit an attractive option.
Whether house or unit, try understand the options you have with the property.”