Looking to buy an investment property? Here are tips to
consider first.
It pays to do thorough research before buying an investmentproperty to ensure you get the best return possible. Here are the 6 golden rules
all buyers should consider before leaping into the investment property market.
Check out
the total costs
There can be many ongoing costs when you buy an investment
property.
Factor in
upkeep and repairs
If you’re buying an apartment also look at how much is in the
sinking fund and work needed down the track like painting or whether the roof
needs fixing in the near term.
Go where
the vacancy rates are low
The old adage, ‘location, location, location’ still rings true
for property investment, which means it’s also essential to consider the
proximity of the property to essential services like public transport and
schools.
Get into
the right gear
“If you negatively gear the
property makes sure you’re not hemorrhaging money each month,” says Brennan.
Decide
between growth or yield
Another deciding factor in any investment property purchase is
whether you are buying the property for capital growth or yield.
Choose the
right management
