Whenever we are asked to share our top property investment tips, choosing a property near value-adding amenities is at the top of the list. But what are these high-value, ‘must-have’ amenities?
Get location-specific
Depending on where in Australia you’re seeking to invest, your preferences and those of your potential renters will differ. However, as a rule, choosing a location near somewhere that is popular or a suburb experiencing rapid development will benefit you greatly. For example, whether you’re seeking investment properties in Queensland or are considering Victorian investment properties or those in New South Wales, suburbs close to the CBD can have their prices pushed extremely high, with amenities not so dissimilar to that in the more outer suburbs. In addition, being close to the beaches, parks, or other key features in each state will give you a point of difference in a competitive market.
Easy access to education
It’s hardly among the top-secret property investment tips to suggest that a property’s proximity to educational institutes will be a significant factor in determining its investment-worthiness. Whether it’s a great local pre-school, a leading Grammar school, or internationally-recognised University, being located close to these facilities will significantly shape the renter demand you attract and the rental premium you can achieve. These will also have a significant impact on your gains if you do choose to sell at a later date.
Proximity to public transport
As more people opt for public transport over driving, easy access to public transport is a key amenity that renters seek. Consider the location of the closest train station or bus stop as a key factor in your investment property decision making, as well as how quickly you can get into the city. A good property investment tip is to identify a location where these services are under development or in planning stages so that you can reap the benefits when they are ready.
Job opportunity and growth
Whilst it may seem as if the CBD is the place you need to be for job opportunities, there are a wide range of suburbs further out, for more reasonable prices and similar amenities, which are booming business areas. For example, in Victoria, two new and booming business hubs, Frankston and Dandenong, have had huge amounts of government funding towards making their suburbs thriving social and community-centric areas to live in.
Shopping and socialising
Unsurprisingly, people love having easy, centralised access to the basics of everyday life – shopping, socialising, and entertainment. Choosing a property location that makes it as possible for people to seamlessly enjoy their preferred lifestyle can create a significant affinity in the minds of potential renters. Try to choose an area where you can easily walk, drive, or take public transport to get to the kinds of cafes, restaurants, stores, and community facilities that you would use or visit regularly.
Attractive architecture and landscapes
People like being in pleasant surroundings and the general attractiveness of a neighbourhood’s architecture and landscaping can add value to your investment. Decorations such as flowers, tree-lined streets, and beautiful landscaping can make your property more attractive from the very first inspection. Cleanliness and well-lit sidewalks can also be factors renters consider in their preference.
Ask the experts
Understandably, this can be a lot to digest and consider when making one of the most important investment decisions of your life. So, always seek expert help to support your decision-making. Industry experts with years of experience and countless property investments under their belt are here to help at iBuildNew.
Successful real estate investment strategies to make the most of those amenity-rich locations.
Find your next investment
Need help getting started? iBuyNew will point you in the right direction! Whether you are looking for apartments, townhouses or house and land packages, working closely with an iBuyNew property consultant, who understands the market, will help you find something suitable that’s tailored to your needs and requirements. Get in touch with them on 1300 123 463.