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Getting ahead by investing in the past

23/02/2020

How one woman secured a 1950’s cottage on the waterfront as an investment property.

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When the opportunity arose for Alison to restore a 1950’s cottage in a suburb filled with childhood memories, she jumped at the chance and bought it as an investment property.

“The property offered the opportunity to preserve and restore a really charming example of mid-century design and I would have hated for it to be knocked down and lost to our local heritage,” Alison said.

Having grown up in Bolton Point, Lake Macquarie, Alison was drawn to the area for its location and potential.

“It’s not just about the numbers for me. I have to love the property and I think Bolton Point is one of the best locations on the Lake,” Alison said.

“It offers incredibly beautiful views and a wonderful lifestyle with excellent links to Sydney and proximity to Newcastle.”

“I do look for property that offers good capital growth and is a sound investment, but I have to be excited by the opportunity as well.”

Despite living in Sydney for the past 20 years, Alison worked through her investment strategy with a lending manager at Newcastle Permanent.

“I’d always hoped to secure an investment property and my lending manager, Rebecca, gave me the confidence to make it happen. She worked through the process with me and there’s plenty of flexibility to adjust my strategy if my circumstances change at any time,” Alison said.

“I’ve banked with Newcastle Permanent since I was at school and they were my choice of lender for my first mortgage. It was easy to maintain a relationship with the bank once I moved to Sydney so there was no need to look further.”

With plans to hold on to the property for the long term and eventually move in, Alison aims to rent the house out to assist with repayments. 

“I’m much better at paying things off than saving, so investing in a property and paying it down works well for me,” Alison said.

“I figure if you’re going to work really hard and get up in the dark during the winter months, then it’s important to be excited about what you’re investing in.”

Alison’s top investment tips:

  • Start as early as you can and as modestly as you need to
  • Go for an investment option that interests you and that fits well with your lifestyle and other commitments
  • Make sure your investment choices sit comfortably with your appetite for risk, not someone else’s
  • Seek advice from experts and people who have already achieved what you’re aiming for.

This article is intended to provide general information of an educational nature only. This information has been prepared without taking into account your objectives, financial situation or needs. Information in this article is current as at the date of publication.

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