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Things You Should Know Before Buying an Investment Property

Are you looking to buy a house in Perth? Buying a property is a costly investment and needs to be done with care. You could hire a real estate buyeru2019s agent for professional assistance on finding properties. But what is the most important thing to make your property investment successful? https://propertywizards.com.au/property-services/buy-a-home/

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Things You Should Know Before Buying an Investment Property

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  1. www.propertywizards.com.au

  2. Things You Should Know Before Buying an Investment Property WWW.PROPERTYWIZARDS.COM.AU

  3. Are you looking to buy a house in Perth? Buying a property is a costly investment and needs to be done with care. You could hire a real estate buyer’s agent for professional assistance on finding properties. But what is the most important thing to make your property investment successful? WWW.PROPERTYWIZARDS.COM.AU

  4. 1. Your investment purpose Your very first task is to decide on your goal for the property purchase. A lack of clarity may mean a negative result. Which is your property investment purpose. • Family home to live in – this can also be treated as an investment • Investment property for yield or rental return • Investment property for capital growth • Add-value property for subdivision or development

  5. 2. Pre-Approval You may need to apply for a mortgage to buy a property. A mortgage broker such as Property Wizards can help you gain pre-approval for your loan, which can put you ahead of other buyers when competing for a property.

  6. 3. PROPERTY LOCATION

  7. The most significant factor for every buyer is the location of the property. Your focus should be on the growth drivers, transport and amenities, such as the beach or river, shops, schools, lifestyle and the surrounding streets and homes. WWW.PROPERTYWIZARDS.COM.AU

  8. 4. PROPERTY PRICE Check that the price you pay is not greater than prices moist recently paid for similar properties. This may require you to track the market for a while, visit home opens and later record the prices at which the properties sold. It is only by this comparison that you can truly know the right prices. Otherwise, you may pay to much. Or miss out good properties because you are offering too low. WWW.PROPERTYWIZARDS.COM.AU

  9. ENSURE THE PROPERTY IS ATTRACTIVE TO TENANTS

  10. WWW.PROPERTYWIZARDS.COM.AU When there is a shortage of rental properties it is easy to rent out most homes. But when the cycle is in the renter’s favour, they have a choice. So, try to make yours an attractive choice.This means being close to the amenities mentioned above. It also means keeping everything in good working order for the benefit of your tenants.

  11. 6. Buying an old house versus new construction New construction helps keeps your maintenance costs low, can provide tax depreciation benefits and provides a higher rent. But for the same price you can usually buy and older house in a better location, often with stronger growth potential.

  12. It is a personal choice and there is no right or wrong. It juts depends on your goals and strategy and this is something a buyer’s agent can help you decide on. WWW.PROPERTYWIZARDS.COM.AU

  13. 7. Inspecting the property When viewing properties, it is important to do a thorough inspection, considering each room as well as the outdoors and the surrounding area. You may not have a chance to go back before you commit to buy. WWW.PROPERTYWIZARDS.COM.AU

  14. BOOK A CALL Tel 08 9381-7450

  15. OUR LOCATION 121 Churchill AvenueSubiaco, PerthWA 6008 Australia WWW.PROPERTYWIZARDS.COM.AU

  16. THANK YOU WWW.PROPERTYWIZARDS.COM.AU

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