Buying an investment property is a big decision that requires a lot of thought. Buying property as an investment comes with many different factors to consider, and investment property buyers can sometimes get confused about how the process works. To help you better understand the process, we have put together a quick list of factors to consider how to buy an investment property.
- We often get asked if investment property buyers should look into getting a new or established home. While both have their pros and cons, buying an investment property that is brand new has a distinct advantage over an older established home. New investment property buyers can receive certain tax benefits because of depreciation. By buying or building a brand new home, you can enjoy all of the depreciation benefits while buying an investment property that is old will not offer the same benefits.
- Buying property as an investment can be a great way to create wealth, but what type of property is best? Investment property buyers often worry when they can’t decide if they should buy a house or an apartment. Both have their merits and strengths, but buying property for investment requires you to stay completely informed. You must review the area and the potential tenants you expect to secure.
- When deciding how to buy investment property, the first thing that comes to mind is location. Where do you even start looking to buy an investment property? Good communities which can offer strong growth potential are in close proximity to train stations and transport routes, reputable schools, shops and recreational areas. The community and suburb should also be well planned with trees and walkways and it must be in a growing community with a great reputation. These are desirable for anyone, including your prospective tenants, but most importantly for families who are desirable tenants for your investment property.
Want to learn more about how to buy investment property or other factors you should consider? We have a large selection of blogs, articles, videos and much more which provide information on a range of property investment topics that can assist you in selecting and buying property as an investment.
Alternatively you can contact our Property Investment Specialists on 9200 7200 or get in touch here.