A good investment property purchase
Prepare a strategic plan for your investment
If you want to maximise your profits, think about purchasing an asset in a developing neighbourhood. Likewise, search for real estate that requires remodelling or redevelopment. What kind of purchase you make should be determined by your aims.
The kind of asset
Find a home in a neighbourhood where there is a high demand for rentals. Nowadays, many people are happy to exchange location and convenience for a large backyard.
Purchasing new or used
Many building owners will likely also be investors when buying a new unit. Because they normally take better care of a building than investors, take into account a property with a higher percentage of owner-occupier tenants. When buying an older apartment, do your research and opt for one in a charming building that could use some aesthetic updating. You now have the chance to boost both your capital growth and rental revenue.
Where can I buy?
When it comes to the long-term performance of your investment, location is crucial. Property in gentrifying or developing neighbourhoods should be sought after. Additionally, seek for investment properties close to services like public transportation and educational institutions.
When to purchase?
When no one else is purchasing, is when you should be buying an investment property! When auction settlement rates are very low or declining, take advantage of the situation. Your negotiating strength will increase as a result. If you’re unsure, talk to us; we are experts in the real estate market and can advise you on the best time to make an investment.
How much you can afford?
Prior to even starting your search for a home, we’re here to assist you determine exactly how much you can pay for and repay. Additionally, we may support you in obtaining a pre-approved loan, saving money for purchase and maintenance costs, and creating a financial safety net in case of an emergency or an increase in interest rates.
Professional guidance while purchasing your investment property
Consult an accountant, a property analyst, a mortgage broker (like us), and a solicitor before buying an investment property. This will increase the success of your investment.
Know your market and do your research before purchasing
Do market research and seek out expert guidance before making an investment property purchase. Here are some additional factors to think about, with which we may assist you:
Understand where the market is in the real estate cycle. This increases your chances of discovering a home at the ideal price. Look for a home close to neighbourhood services including restaurants, cafés, parks, public transportation, and schools.
A growing population will raise demand for your property from both tenants and potential buyers, so look for these locations. Look for a home that complements your investing plan. To determine growth, compare current selling prices to prior sale prices.