Thinking of investing in property? With current housing demands exceeding supply, it certainly would be an opportune time to invest. Buying an Investment Property is a wise choice when it comes to investing since real estate is a solid, long term investment that brings plenty of rewards.
But as any experienced property investor will tell you, investing in property can be risky. There are numerous factors you need to consider beforehand and if you are a first-time investor the risks can be even greater. To minimise these risks and make sure you make the right choices when it comes to your property investment, it’s best to follow a few guidelines.
Preparing to Invest
Here at Investment Property, we want you to make the best decisions with your investment especially if you are a new property investor. So before you even begin to view your property options, here a few wise words to follow:
• Define your goals. What is your purpose for investing in property? Are you seeking residential investment only, or commercial investment property? Do you wish to be a landlord, or are you interested in buying, restoring and selling property? Do you want to attain the highest possible return right away or are you looking for stable, long term capital growth? You need to define what it is you want out of your property investment in order to determine what kind of property you should invest in.
• Do not purchase on a whim. Many buyers make the mistake of buying property based on their feelings or desires. They liken buying investment property with buying their own home, when in fact these are two different things. When buying investment property, you need to focus on the logical- not on what you love or what looks good but on what makes sense. You have to consider whether or not a property suits your financial capabilities, if it fulfils your needs and goals, the location of the property and other important considerations.
• Do your research and know your options. Find out which areas have the best properties to invest in, the best time to invest, the rental values and tenant demand, and which properties fit your financial goals and strategies. Here at Investment Property we can supply you with complete information on a various properties available within Australia. We do your research for you so that finding your ideal investment property is a breeze.
• Have finances lined up and ready. Having capital prepared allows you to act quickly andpurchase property should the perfect opportunity present itself. It also allows you to pay more than the minimum down payment, which will reduce mortgage interest and increase returns. Ready finances are also important in case you do not find a tenant immediately, or need to have emergency repairs done on the property.
• Get professional help. It’s best to call on the experts when it comes to making significant investments like purchasing property. We at Investment Property have the knowledge and experience that can guide you in making the most advantageous property investments. We help refine your property search by providing essential information on each property available and assess whether or not you have enough assets to sufficiently pay for the property you choose and its upkeep. You can trust in Investment Property to give you the best advice and assistance to help you achieve success in property investing.