Finding the ‘Right’ Investment Property

Choosing an investment property can be quite a challenge.  It is critical you are equipped with the right knowledge and advice prior to making an offer.  The criteria are different to that of choosing your own home.  Below are some tips to consider in the purchasing decision:

  1. Do not let emotions cloud your judgment – this is about capital growth and the numbers.
  2. Research – you cannot ‘over’ research, but you can certainly ‘under’ research. There are plenty of sites online that can provide free data about properties sold in the area you are looking.  In addition to online research it is helpful to talk to local agents.  Whilst advice from family and friends will be forthcoming, it is best to listen to the professionals.
  3. Develop a Strategy – what are your investment goals – long term and short term? How are you going to achieve them – write a plan.
  4. Location – location is critical. Look at employment opportunities, economic growth, and future infrastructure projects.  Properties close to major amenities such as schools, hospitals, shopping centres and public transport are usually popular.
  5. Type of property – a house or apartment? Age of property, maintenance issues, amount of storage, parking space, and anything that could attract or deter a tenant needs strong consideration. After all there’s no point purchasing a property no-one wants to live in.

Property has consistently proven itself to be a strong, stable investment over the long term, and investing in high growth lifestyle areas such as the Sunshine Coast is attractive to many investors.  At Wright Place we can assist you to purchase an investment property that suits your budget and your property goals.

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