5 Important Property Investment Tips From A Leading Australian Property Buyers Agent
As a leading property buyers agent a lot of people ask us for property investment tips
. So here are five of our best tips:1. Be clear on your essential requirements. Whether you are a high income earner looking for tax benefits and growth or you are looking to add value and create equity through renovation; it is important to establish what sort of property will best serve your requirements, in which location and for what budget. It is easy to get carried away and emotional about properties that do not meet your essential requirements or are unlikely to provide you with the best returns; remember the property is a vehicle to assist you achieve your investment objectives.
2. Research is crucial. How well do you know the area where you are buying? Being a professional buyers agent we understand the importance of researching comparable sales, the levels of supply and demand and the best streets in an area. Good proximity to schools, shops, hospitals, and transport is important and you should know the demographic statistics and trends, any planned infrastructure, future capital growth projections as well as the areas historical performance? Knowing your prospective tenants typical accommodation requirements is key? Remember that tenants and property buyers can often have very different requirements.
3. Always consider the resaleability of the property. A property may appeal to you but if it is on a busy road, faces south, is negatively affected by a right of way and is directly under the flight path, how much will it appeal to someone else? Take some advice from your friendly buyers agent; you will probably be looking to sell your property one day and these factors would then pose a concern!
4. Be careful when dealing with real estate agents. Unlike a buyers agent, real estate agents act in the best interests of the seller and will always try to get the best price for the property. With this in mind, never look too keen during or after a viewing and never indicate your maximum price. Statistics show that 90% of property buyers pay up to 10% more than the price that they had originally set for themselves.
5. Consult with a buyers agent. Unlike a selling agent, a buyers agent acts exclusively and independently for a property buyer. A buyers agent will give you the best advice on how and where to buy a property that will suit your requirements. And if you are unsure of what to look for or simply do not have the time, a buyers agent will inspect and short list suitable properties for you. A buyers agent is able to look for property in a wide range of locations from various different sources, unlike a selling agent who works in a specific area. And a good buyers agent will also negotiate the best purchase price for you and ensure that the process of selecting and purchasing a property right through until settlement is a smooth and hassle free experience.
by: Chris White