If you’ve read the news lately, then you’re no stranger to the state of the Australian real estate market. It’s not all that bad, but it won’t be smooth sailing either. With the right tools, however, you can achieve your investment property goals. In this article, you will find sound tips and advice that will take you one step closer to successful property investing.
Being in the know has many advantages. Stock up on investment property tips and you should be armed to take the risks and face the challenges in real estate.
9 Investment Property Tips for Investing
1. In-demand now and in the future
What kind of property is highly in-demand in the location you wish to start your investment venture? Putting your money on the most desirable type of property now and in the future will help ensure returns will be steady and certain. So make sure to check ads, and talk to property managers and buyers agents. You can even talk to one of our independent consultants, who can help you find a perfect house & land package that is within your budget.
2. Promises capital growth
If you want to negatively gear a property, buying one purely for capital growth is one way to go about real estate investing. Despite the rental rate being lower than the cost of upkeep, a conservative growth is better than none at all. Make this move a part of a wealth creation strategy. For more information regarding the benefits of property investment, make sure you get your hands on our free guide to investing in Melbourne property.
3. Close to public transport
Who doesn’t want to rent a property close to public transport? Many potential tenants out there will surely appreciate the convenience, and might even be willing to pay higher for it.
4. Close to the median price
To see returns on your investment, experts recommend buying investment property with a rate close to the median price. Not only will this help with profit, but it also serves as leverage whether the median listing price is trending down or up.
5. Close to sources of tenants
Opening up shop close to a target market is one of the most effective strategies in business. The same thing can be applied to investing in a rental property. Buy one close to universities and market to students. Buy one near the business district and market to employees.
6. Reputable or with good reputation
Want to invest in house & land packages? Research about the developer and builder to learn more about the quality of their properties. You should also talk to tenants and get their opinion about living in a house built by a particular developer and builder.
7. Popular locations
If you’re looking for properties with strong returns, buying one close to the CBD has proven time and again to be income-generating, what with the location being popular among buyers and renters. However, sometimes investing close to the CBD, is simply too expensive. With an expanding population, investing in property close to new urban hubs, can create some of the same return as a city property.
8. Better strata scheme
It’s understandable that you’d want to invest in a property with cheap strata levies, but you might want to avoid doing that. If it’s too good to be true, then it probably is. It is possible that a cheap stratum is a cover up to what a property lacks, which could cost you money. Make sure to check a property before buying it, ensuring that the quality and facilities your tenants need are satisfied and provided for.
9. A logical investment choice
Buying a property when you’ve become emotionally attached to it is a major no-no. You could be overlooking the returns or capital growth, which matter more than anything else where property investment is concerned.
With these investment property tips, a real estate venture doesn’t have to be risky and challenging. Avoid mistakes as much as possible and you should succeed.
Need help getting started? iBuildNew will point you in the right direction. We can give you access to affordable house & land packages that are not usually available to the public. If this is your first time investing in property, working closely with an expert will simplify your experience.