The "foundation" for success.

Around 10-12 years ago, I worked with a Project Manager who asked me a question. That question was "Do you know the difference between a slab and a foundation?" and I thought I did. I was a little off, but not far off.

The difference is that a slab is what the framing rests on. The foundation is what the building rests on. It is the ground supporting the building and, one could argue, the primary support structures for the building whether it is a slab, piles or whatever (sand, etc).

Now, what do we know about foundations? If you have a good foundation, you set a strong platform for a stable building. In some cases, you have to construct the platform, compacting and placing aggregate, before you build the slab. The platform is then density tested and you get into the building process.

A foundation as a metaphor could be an extensive education in a certain subject. When you educate yourself and become a expert in any area of specialisation, people then approach you for your advice and you can help them solve problems they have. I specialise in hillside houses and renovation updates to existing homes. That is where I know more than the "Average Joe".

Let's develop further on the metaphorical statement with an anecdote and show how education on a subject can benefit you greatly, even when the cards are not stacked in your favour.

In 2012\2013, We built a spec house "off the plan" with a volume builder in Augustine Heights, QLD. We chose this particular builder because they were good quality and promising a 16 week build programme from slab.

That estate was full of builders at the time and my then wife and I knew it would be tricky to get the property built expeditiously as there was a lot of traffic in the area and trouble with subbie parking etc.

We did a lot of research as to the builders workload, the number of consents in place and the likely timeline that it would take to "get the job done". We worked out that some plans had less walls and simpler wet area layouts. I drew on my design background to establish key elements of the site context and understand the environmental factors present with our site.

The house was built in 17 weeks from slab, but unfortunately my wife passed away the week before handover. It was super challenging living in a house that we'd poured our heart and soul into and a few months later, I got made redundant. My mindset wasn't good but I was focused on making a good life for my 2 year old and decided to reassess my priorities.

With a heavy heart, I decided to move back to New Zealand to have the direct support of our family while I was going through the grieving process. I sold that house and made 20% clear profit on what we had spent including the marketing and real estate agent costs in only 6 months.

How did we do that? It was a really tough real estate market at the time, with people liquidating assets to limit their exposure, etc. I believe it came down to the fact that we had a good agent and we gave them a good product to sell and we did our research up front and considered all the factors. The house was functional, attractive and is valued 3 times more now than what we paid for it. That's the success a "good foundation" brings.

Signing off,

Revell