When considering purchasing an investment property, you want to ensure that you are making the most of your money. People who research the market thoroughly, have a long-term strategy and are informed about their finance options will generally find themselves in a good position for property investment.
To ensure that you are making the most of your money, here are a few hints and tips to consider before purchasing an investment property:
Research the gains: Read property-related and investment articles. Talk to property research companies, about areas you are contemplating buying in. Compare suburbs’ rental yields, resident demographics, tenant demand.
Aim long-term: The market moves in cycles; it has highs, lows and steady patches. Always ensure you are comfortable with the possible pros and cons of an investment asset and think hard about how they match your goals.
Cross your t’s and dot your i’s - There are many tax and legal considerations associated with property investment, so it is a good idea to seek professional advice.
Investigate your property options - Conduct thorough research before settling on a property investment strategy. If you lack confidence about buying, talk to a buyers’ agent.
Choose a well suited loan: There is most probably a range of property loan products to weigh up against your financial situation and investment strategy. We can provide detailed information on all the options available.