Investment Property Buying Tips
Welcome back!
So your looking to buy an investment property and want to make sure you are buying a property that will not only give you a strong rental return but also capital growth.
Well if you do not follow some key steps you stand to miss out on experiencing strong capital growth over time and having your property continually rented in all property markets.
So what are the key elements you need to be aware of;
Employment - Your property needs to be well located near major employers and have growing employment in the nearby region.
Population Growth - The demand of people to live in your suburb or region needs to be growing, if people want to live in your area and their are not enough houses them you have excessive demand. This is very good from an investment perspective.
Infrastructure - Local infrastructure is important as it will drive growth to your location, if new roads, schools, hospitals/medical services and social amenities are available then people want to be close. Also having express roads, well known schools are major drivers of property growth.
Transport - This is very important as it complements the profile of the location. If the location is well serviced by trains, buses and good roads then this will drive demand to the destination you are looking to invest.
Size of Land - This is what really drives property growth over time. The building that you life in essentially loses value, it does not appreciate thus it is the land that increases. If you have a large block in an old established location then this may be seen as a development opportunity and will generate exceptional capital growth over time. Always consider the size of the block relative to local developmnent requirements.
Proximity to City - This is perhaps the biggest investment property axiom. Location, location, location! If your near the city then this has all the services listed above as with the increasing demand to be close to where everything is happening this is a major consideration for investors.