Re: Things to look out for before investing in property
Posted: Tue Jun 02, 2015 3:09 pm
Hi and welcome to the forums gump,
Investing in a property usually requires a lot of research, especially when you’re weighing up the potential return on the investment over a shorter period of time compared to the typical term of a mortgage. Good research can help you remove yourself from the equation when calculating the costs of buying and living in an area.
This may be important to avoid your personal preference from clouding your decision making. It may be best to avoid areas with poor infrastructure or high crime rates, however, going interstate or at least buying an investment property on the outskirts of the metro area may be a good start for your investment portfolio.
House prices in major cities are through the roof at the moment. Therefore, people who rent generally prefer to live in outside of major cities. Many first home buyers have even started buying investment property first before buying a house to live in.
Despite this, it’s important to note the new policy changes to investment loans which may eventually be a challenge for first home buyers, such as yourself. It’s recommended that you move quickly if you’re looking to apply for an investment loan.
Cheers,
Otto
Investing in a property usually requires a lot of research, especially when you’re weighing up the potential return on the investment over a shorter period of time compared to the typical term of a mortgage. Good research can help you remove yourself from the equation when calculating the costs of buying and living in an area.
This may be important to avoid your personal preference from clouding your decision making. It may be best to avoid areas with poor infrastructure or high crime rates, however, going interstate or at least buying an investment property on the outskirts of the metro area may be a good start for your investment portfolio.
House prices in major cities are through the roof at the moment. Therefore, people who rent generally prefer to live in outside of major cities. Many first home buyers have even started buying investment property first before buying a house to live in.
Despite this, it’s important to note the new policy changes to investment loans which may eventually be a challenge for first home buyers, such as yourself. It’s recommended that you move quickly if you’re looking to apply for an investment loan.
Cheers,
Otto