New to property investing? Here are our top tips for a successful property investment journey.
1. What makes a good investment property
There are many things to watch out for when buying an investment property but perhaps the most important factor is ‘home owner appeal’. In other words, if you can picture yourself living in that property and it is conveniently located with a good floorplan chances are you are onto a winner. Long story short, look at investment property through an owner occupier lens.
2. What kind of property should you buy
Townhouse, apartment, villa, house and land, family home? It’s confusing right? The short answer is, it depends. The area you are buying in will have a huge effect on what property styles are available to you. For instance, if you are buying in the CBD or city centre chances are there won’t be many, if any, family homes to buy, apartments and townhouses will be your only option.
Regardless of where you are investing it is best to view the buying process through the eyes of the owner occupier as mentioned in step 1. If you buy an apartment, what makes it attractive if you were planning to live there? If you are buying a family home, is it on a good block with great amenities? Your property needs to have plenty of positives.
3. Alternative property investments
There is no short way to enter the property market, it is a lengthy long term process and often a very expensive process. The rewards are huge in the real estate market however and thankfully there are other ways to enter the market.
You can invest into property on the stock exchange through REIT’s (Real Estate Investment Trust). This is essentially where a large group of investors buy a portfolio of properties, employ management staff etc. and then distribute the rent to the investors minus expense.
It’s a great way to invest in property if you don’t have a large deposit ready to invest in individual properties.
If you need any advice regarding the above please contact us at
