Want to ensure you’ve made a great real estate investment opportunity? Repeat after us – location, location, location! It’s the hottest and most timeless insider investor tip, and comes as no secret to enormous success within any market. Basically, if the location is thoughtfully chosen, the higher the chance of gaining greater returns from your investment.
Finding the “right” location isn’t always the simplest of tasks, however. Close proximity to certain amenities will certainly sway a prospective buyer toward taking an opportunity.
These amenities include:
- Public Transport
- Shops and Markets
- Educational Precincts
- Lifestyle/Nightlife Activities
Deciding which type of housing you should invest in
There is no right or wrong when it comes to choosing a type of housing for your investment property as both could potentially result in fantastic return, given the right circumstances. If you’re unsure as to whether a unit or house is the “smarter” or “better” investment, there are many considerations to make.
In most cases, units are more affordable than houses. It’s easier for a first-time investor to raise the capital. Also consider that houses, more often than not, will have a higher entry price point solely because of land value.
Rates are typically higher on a house. Also, consider the copious amounts of land taxes required to pay on an ongoing basis.
If you decide to invest in a house, all maintenance issues are your responsibility. In the case of an apartment, unit or similar, the entire responsibility falls on the body corporate.
Develop a knack or greater understanding of what the upcoming property hotspots will be. A significant part of property investment is about choosing the best suburb to provide you with the most profit. It’s a good idea to unlock strategies which will help you determine growth areas.
Potential homeowners quickly chop and change perspective, as they gain new intelligence on different suburbs. Suburbs which may have been identified as poor or lacking years ago, may now be viewed favourably. Desirability then changes the landscape of the suburb.
Things you should look at:
- What’s affordable in the region you’re interested in
- Check out how the investment property prices have trended in the past few years
- Find out whether new amenities are being opened up within the area
- Patterns emerging in local age demographics
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.