Buy or Renovate? Which is more affordable?When you discover the price to build your renovation plans you may think, ‘Surely it must be cheaper to sell and buy something better instead?’ In today’s episode, I talk to a real estate agent to find out what is happening in the real estate market in 2024-2025 in Brisbane and all around Australia, and the forecast moving forward.I also investigate the impact of flooding on property prices and how environmental design is valued in the market.I talk to highly respected and experienced real estate agent, Tim Douglas from Place West Estate Agents in Paddington Brisbane.MORE INFORMATIONFind everything you need on the Renovation Collaborative website. www.renovationcollaborative.com.auPODCAST Key points summary, timestamps and resource linksFREE RESOURCES Transcript edited into clear Q&A.CPD Australian architects can find more information on CPD, and COURSES Eleven easy to read courses demystifying the entire home design and construction process. KEY POINTS SUMMARYAnother fantastic interview with Tim Douglas. I just want to draw your attention to three main points from today.1. Firstly, the property market is showing growth in most Australian capital cities, with Brisbane looking particularly strong going into the Olympics. Brisbane has had a very strong run since COVID and there's no sign of that stopping over the next 7 - 8 years.2. Secondly, the high price of construction over the past few years has led to a shortage of completed larger renovations and new houses in the Brisbane market. Therefore, these products are now in high demand. On the flip side, unrenovated smaller cottages are not performing as well as they used to. This is obviously because there's not as much enthusiasm for renovating as there used to be, making these products less desirable. Tim advised that if you're able to hold onto one of these properties and just wait, they'll become a better investment over the longer term.3. The third point was that environmental design adds value. I've always known it does, but it's really great to see that reflected in the market. Getting the climate responsive design basics right is always a winner. Get those living areas facing north, the indoor outdoor living areas, so they'll be filled with light and responding to the climate, responding to the seasons, winter through summer.INTERVIEW QUESTIONS00:00 Introduction01:09 What's happening with the price of real estate in Brisbane in 2024-2025 and looking forward?11:18 What is happening with house prices in the other Australian capital cities looking forward?19:21 Does a house designed to suit the climate have greater property value? 21:19 Do other environmental initiatives add value and are buyers looking for them?23:07 What effect does potential flooding have on a property in the current market?30:22 If someone was planning to renovate and sell within 5-10 years, what advice would you give them on the...

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