Ready to start your investment property journey? Considering all aspects of your investment from the start is a good idea to make the process straightforward and simple. Investing in property is a big decision but it doesn’t have to be complicated or stressful if you manage it correctly and speak to the right people. To get started, here are 6 considerations that you should look at for your property investment.
Location, Location, Location
It is often quoted that “property prices are determined by 80% location, 20% property”, this real estate rule of thumb illustrates how huge an impact location has on a property’s price growth potential. Location is the most important factor for profitability in real estate investment. How far you are from facilities, how convenient it is to travel, what’s your neighbourhood’s status, and what is the growth potential of the area are all important factors.
Property prices are determined by 80% location, 20% property
The location of the property also reflects commute times, proximity to friends and family, job opportunities, schooling/educational opportunities, and a stronger sense of community.
Fresh Air, Open Space and Parkland
More and more people are willing to pay a larger amount for a property located close to a park than a home that sits in closed off space. Living in close proximity to nature and open parkland is far better for your health, new research suggestions – it increases lifestyle enjoyment and may even extend your life!
Those who opt to invest in “greener” areas reap the health benefits and are more likely to face improved mental health, become socially engaged and commit to physical activity – all prospects that come with living near open spaces.
Schools and Universities
It’s a smart move to invest nearby good schools and universities. Hotly sought after, investors are paying big money to produce housing near top ranking & upcoming Australian schools, a trend that is expected to grow in 2018 and beyond. In order to capture the young family audience, it has become the smartest of investments to snatch up a three-bedroom home near a top-ranking school.
Low Crime Rate
Everybody wants a heightened sense of security, with the knowing that they’ve invested in an area where it’s safe to raise a family. While there are many factors to consider when starting up an investment property, you should be questioning if the property’s in a safe area.
Public Transport Access
A good public transport system can vastly enhance the liveability of an area, it can also however greatly increase property prices purely through desirability. Public transport should be viewed as essential infrastructure in any metropolitan area. It is often claimed that sustainable development depends upon public transport. Additionally, having good public transport services available increases connectivity and provides the opportunity to bring people together. If the family’s car is out of action, public transport becomes a suitable replacement.
Growth opportunity – are there ways to add value?
Once you’ve made a plethora of other considerations, you must ask yourself whether there are growth opportunities, further profits to be made. More specifically, you must pose whether or not there are ways to add value to your investment. It is a good idea to plan for years down the track when updates or upgrades may arise.
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.
1800 184 284
