The Long Game
Good things take time. In Jono and Jessica Nisbett’s case, it took six years to renovate and sell a 1990s 220m2 directfix polystyrene property that they had originally bought as a flip. But the results were worth it.
The home was bought by the couple in 2014. They didn’t love it: with a green and cream interior palette and covered with leak-prone polystyrene, it wasn’t their “dream home” by any means. But it had potential.
First there were the 360° views of Tauranga Harbour, the Kaimai Range and Mt Maunganui. Another bonus was the location; situated in the desirable suburb of Matua, it had star potential. But the banks weren’t keen.
“Because it was made from directfix polystyrene it was considered risky by the bank, and they required a 50% deposit,” explains Nisbett. “There was also a bit of damp showing in the bathroom, which put people off.”
But as a builder, Nisbett knew he had the skills and knowledge to make it work. In the end, the Nisbetts were the only ones who attended the auction. They secured the property for (by today’s standards) an incredibly low price of $315,000.