If it’s your first time investing in property, you want to be sure you’re making the right choice. The type of property you buy will depend on a number of factors, like budget and investment goals. Take note of these tips when making your decision.
Lifestyle
What kind of lifestyle do you envision for your target market ? Young professionals want to live in close proximity to the CBD and transport options, but not think about lawn upkeep. Meanwhile, families tend to look for properties located close to schools and parks, and with fenced yards or pools.
New vs old property
Purchasing a brand new property has its benefits, including depreciation benefits at tax time and minimal maintenance. On the other hand, older properties present renovation opportunities that can significantly increase value and rental returns. Also, older properties tend to be larger and have options to add additional bedrooms.
Location
Consider the amenities available for your target demographic. Again, this depends on your target market, but in general, proximity amenities like shopping centres, parks and transport would appeal to any tenant.
Extra features
Aside from covering the basics of a safe and secure rental property, you can add extra features to give your listing an edge. Some of these features include:
- Air conditioning
- Ceiling fans
- Built-in wardrobes
- Storage cages
- Dryers
- Security screens
- Fly screens
Stacey Lee Realty has experienced Property Managers to handle the task of maintaining your investment and ensure your investment is working for you with minimal hassles. Call us today at 07 3399 2966 or visit www.staceyleerealty.com.au