What's more important when buying a property - lifestyle or investment?

October 25, 2016
Marvin Coleman

Should you focus on making money from a property, or is it more important to make sure your needs and wants are being met?  I evaluate every property as an investment first, a place to live in second. 

I liked this article, which suggests the main aim is to always buy properties that are guaranteed to make money first, and do our best to keep ‘needs’ as a secondary focus as much as we can.

  • Undervalued (an amazing opportunity that I can’t walk away from). This is a must, regardless
  • Well positioned (location is always the underlying motivator)
  • Area has proven track record for capital growth (or, where is the area positioned since the last time it peaked?)
  • Only buy where we want to live if it suits our needs, otherwise consider renting what we need and buy an investment property
  • Buy properties we can add more value to (renovate, extend, redevelop, etc.)
  • Buy properties we can get a good rental return from.

If you'd like to discuss lending for your own home or investing in property, please call me 0431 376 008.  Cheers, Marvin

 

Posted in: Property investment

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