When adapting the mindset of a property investor, it is important to be well-informed when it comes to making tough decisions and tackling negotiations. From finding the right location to making sure the budget fits all the upgrades, every detail counts. This article will provide you with property investment tips to help you achieve your investment goals:
Make A Statement
For those interested in selling, the real estate is a competitive industry, which means ensuring your home has a strong street appeal. There are plenty of sellers on the market therefore, it is essential to make your place stand out and capture buyers from their first impressions. Although having the home staged and prepared for sale may become an additional cost, the property is presented in the best light and may be able to secure interested buyers. These are very important property investment tips.
Plan Your Profits
By staying updated on the real estate market rates, you can properly decide when would be the right time to take on the challenge of an investment property and how to fit in an accurate budget. The key is to calculate how much the finished product will cost and compare it to its selling value to check that you are at an advantage.
Forward-thinking can make all the difference, particularly when it comes to choosing land sizes that will enable you to easily rent out the property. By ensuring there are at least three to four bedrooms when building the home, you are able to accommodate more tenants and maximise the block size. It is ideal to aim for two living areas while also creating the illusion of a spacious area through the use of high ceilings or wide windows.
It is easy to get carried away and go beyond your financial capacity, which is why overcapitalising is a common trap that people fall into. Some strategic property investment tips are to remain within the set budget by opting towards building manageable homes on a smaller block. Through sticking with a lower package price, it is a safer option as you can avoid putting your finances at risk and have the freedom to build within your means. The lower selling price is also a great opportunity for the property to gain more exposure to the market for potential clients.
Less Is More
When showing off the home’s unique style, a property investment tip to keep in mind is maintaining a blank canvas throughout the property. In doing so, you are able to effortlessly appeal to a range of buyers who come from different demographics. A neutral colour palette caters to the wide majority while also delivering a design that’s not too overwhelming.
The Big Picture
Property investment tips that pay off can easily get you ahead of the game! Which is why it is important to prioritise the landscaping of the home. Basic landscaping is able to set your home apart by showing off a complete look and ensuring it is ready to be leased right away. It also offers a low-maintenance look which is what most tenants are after. It also pays off to enhance the kitchens and bathrooms such as investing in stone benchtops or upgrading appliances.
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.