We help a lot of first home buyers in Rockingham, Kwinana and Baldivis obtain home loans at Smartline Rockingham. We talk about it a lot on our blog because we believe that your first home can often end up being the most profitable investment you ever make. For most people, their family homes are their biggest investments.

However, for well-known Watson’s Bay resident Billy Dunn, his family home was one of the greatest investments we have ever heard of.

In 1976, Mr Dunn bought his home, then a modest property with a fisherman’s style cottage, for $74,000. The property had frontage on Watson’s Bay. The auction was quick and the bidding was “furious” but Mr Dunn won the auction.

Mr Dunn would knock down the original cottage and rebuild a family home with four bedrooms and three bathrooms. Mr Dunn and his wife Jean moved there after their children had all left home. This January, Mr Dunn died at the age of 101. He left the home to his three children, also getting “up there” in age.

His heirs sold the home for $7.45 million, $7.376 million more than their father paid for it in 1976.

What it Means to You

We are convinced that everyone should try to own their home as soon as possible because it is the most reliable investment we know of. Mr Dunn may or may not have known that waterfront property was as close to having one’s own “gold mine” as possible but it certainly worked out that way for his children.

Are we saying you will have similar results with any home you buy? Of course not. But what we are saying is that homes appreciate greatly in value. We have no way of knowing when a home will “explode” and provide 10,000% return on the original price. However, we do know that a well maintained home in a desirable location will nearly always outperform the norm for any other type of investment.

Check Out our Home Loans at Smartline Rockingham

If you don’t have your first home yet, call us today. You may be closer to being a homeowner than you think. Call us today: (08) 9527 1800