After saving up and making all the preparations, the exciting stage of choosing an investment property has finally arrived! Whether it’s a family home in the country or an apartment in the city, the search for that home is crucial to starting off your investment portfolio. The goal of finding your very own property is a huge achievement, which is why selecting the right place is important. This article will explain a handful of tips on deciding which investment property works best for you and if you are receiving the best possible return.
Know What You’re After
Before finalising any decisions, make sure you outline the various investment objectives you are after to know what best suits your current needs. Through being properly equipped, you’re able to check if it correlates with the properties you come across and whether it links to your preferences. When choosing an investment property, it is also helpful to have a firm understanding of your purpose for investing. If you’re aiming to gain a personal property, you should consider properties that are likely to increase in value. On the other hand, if you are wanting to lease the property, you’ll be after properties that bring higher rental returns.
Take advantage of the iBuildNew property concierge service to ensure you make the right investment decision.
Surrounded By The Right Amenities
When investing for capital growth, you should be choosing a property in areas that are in high demand. The value will continue to increase particularly if there are only a few spots on offer. For instance, major cities and inner-suburban areas with established homes or estates are able to fit the criteria you’re after. These places can become quite popular as it’s built to serve a central location for housing, schools, shopping centres and local parks. For investors searching for strong rental returns, new houses and apartment properties are an option to keep in mind. As they showcase a more modern look with all the amenities, they can provide tax benefits and fewer maintenance costs.
Best Of Both Worlds
Although it may be tricky searching for a property that has good capital growth and rental returns, there are a few properties that can give a balanced mix. Townhouses and villas are potential choices as they have a decent land component and can be less expensive. However, they also require strata fees and a number of restrictions to adhere to such as, installing external appliances or repainting the property. This could mean any renovations or reconstruction that need to take place can be quite limited.
Image: Architecture and Design
The Right Location
The decision between choosing an investment property in the country or city will ultimately depend on what’s best suited to your present circumstances. Regional locations can supply higher rental returns and cheaper established properties. Meanwhile, progressive urban areas accumulate a lot of residents which continuously raises the property values.
The journey of choosing an investment property involves a lot of research, especially when it comes to evaluating which location is the most convenient and accessible. By utilising online resources and speaking with real estate agents, you are able to clearly assess the benefits and risks for all kinds of properties.
If this is your first time investing in property, working closely with an expert will simplify your experience. Speak with our phone consultants and you’ll get advice and help in working out the rest of this list. Contact us on 1800 184 284 today or book a call.