New Wave of Young Renovators

Tegan DeClark
They are taking their financial futures into their own hands.  With hammers and paint brushes, the Gen Y's of Toowoomba have been inspired to renovate and invest their way to financial freedom.  Toowoomba has a diverse mix of property and the opportunity to purchase an investment property and renovate is popular among young savvy investors in their 20's.   The young investors have said there are a number of reasons they prefer property in Toowoomba.  The lower entry point but good returns, mining industry boost but the area isn't solely reliant on it and the population growth. Three such investors, Michael and Stuart Valdal and Emily Gunderson purchased a property late last year and have almost completed the renovations.   They say that with their knowledge of the Toowoomba real estate market and Stuart's carpentry skills, they saw the potential of buying together and purchased a 1920's Queensland Bungalow. "We each have a passion for property and since leaving school we have worked hard to be successful in our respective roles within the property industry” Said Emily. "Old Queenslanders are our passion, we love restoring beautiful character homes and with our preferred style of ‘french provincial’, we managed to turn this old tired home into a lovely, modern open plan home". [slideshow] Tegan DeClark from Ray White Toowoomba offers advice to young investors. "Do your research first, speak to finance brokers and your real estate agent so you can start to engage in the market.  Once you have a feel for what you like and what you are capable of, you should be in a position to pick up a great deal and get working." A word of caution though, it is not usually as easy as a new coat of paint.  A lot of hours can go into a good quality renovation.  Valdal agrees, "Although we're young, we worked hard.  We gave up 9 months of weekends and also took 7 weeks off around Christmas to get the house near finished as we believed strongly in what we were doing.  We're proud of what we have achieved and we are looking for another old Queenslander in the East Toowoomba area"