Property Investment - It's All About Location
If you’re thinking about buying your first investment property, no doubt you’ll want to do a fair bit of research to ensure that your purchase leads to good returns.
As well as learning about investment loans and your borrowing capacity, finding a suitable property to invest in will be at the top of your priority list and one of the most important things to consider is its location.
When you locate a potential investment, start by finding out if the property is in an area likely to attract tenants and whether the price is likely to grow over time.
Enquire about plans for development in the area. If there are improvements to infrastructure scheduled for the near future, demand could grow among tenants and spur price rises.
Conversely, if a nearby airport will be building a new runway soon, this could mean increased noise pollution from aircraft in the property’s neighbourhood - negatively impacting rent prices.
You can also think about who your tenants might be and what local infrastructure they will appreciate.
If you hope to attract students, this will be easier if there are good transport facilities, cafes and shops nearby. For families, close proximity to schools and parks will be a big plus.
You can use all this information to decide whether a given property is right for your investment goals.
To get more detailed information on your situation, talk to a Loan Market mortgage broker today.