Are you someone who is looking forward to buying an investment property? If answered yes, you need to take a close look at yourself, just as close as the property that you’re all set to buy. Think of the thing that you prefer most in a home and then watch out for the type of property, regardless of a house or an apartment that will match with your requirements. You would require empathising with your future tenants while selecting a property and hence you need to purchase something that is certainly going to appeal to the renters.
So, are you wondering about the top factors to take into account while buying a Sydney property investment? Here are few things to watch out for.
Do your bit of research
The experts always advise that you should do your bit of research and homework before you buy such an investment property. What sort of property is currently in demand? Or what sort of property will be in demand in the near future? That should be the exact type of property that you should buy. Get in touch with expert property managers, check their ads and speak to buyers agents to know about the desirable type that is suitable now and also for the future.
There’s more to it than just rental returns
Rental returns is not the only thing that you should look for in a Sydney rental property. It is also vital for you to take a close look at the capital growth as well. There are times when this capital growth can be equally important. This may make sense in case you’re planning to gear an investment property in a negative manner.
Buy investment property nearby public transportation
Yet another key is to purchase an investment property nearby public transport. You might prefer the Potts Point Area or the Elizabeth Bay area plainly due to the fact that it is a perfect community where there is never a dearth of public transport. There are ample buses, Kings Cross station and one can even walk to CBD.
Research on both the builder and the developer
If you’re someone who is looking forward to new apartments, it’s vital for you to research both the builder and the developer and research shortly on the other different projects which they’ve completed. Knock the doors of their previous projects and speak with the people who live there to make sure they’re happy with the property.
Check the source of tenants in that area
One more thing that you need to take into account is to check the sources of the most likely tenants in that specific area. Enquire about whether or not there is a college or a school or a university in that locality? If yes, then your investment property will always be in high demand.
So, if you’re someone who is planning to invest in a property, make sure you take into account the above mentioned points to choose the best property in the market.