Property can be a lucrative investment, provided you do the research to find the right one. Property investment comes with many benefits, but also comes with its fair share of risks. However, people who go to the effort of doing the necessary research and get it right can expect a good return on the money they invest.
Why Is Property Research Necessary?
Government policy restricts foreign property investors from investing in existing properties. Instead foreign investors are only allowed to buy new properties.
This policy can provide some lucrative property investment opportunities for Australian investors; however it also creates a considerable number of disadvantages. New properties tend to go for a much higher price because of the large interest of foreign investors, which means local investors may have to spend a lot more money to acquire a new investment property.
In order to avoid this particular problem, it is important to research the market thoroughly. Instead of paying more for a new property, why not research existing, older properties or try to secure a better price for a newer property by speaking to an industry expert?
Is There an Easy Way to Research Property?
Searching for the right investment property should always start with compiling an overview. Start by looking at available properties in your local area and look at the median sale price for properties in line with the amount of bedrooms or property type.
You should also understand the neighborhood the property is situated in. By looking at the demographics, you can estimate the average age of residents, composition of families and even their education and occupation. Depending on what you discover, you can decide whether the investment property in that area is right for you.
Before you purchase an investment property look at what you could get if you were to rent it out. Rental prices can fluctuate suburb to suburb, so it is also a good idea to have a look at the average rental income of the street and suburb where you want to buy. In addition to that, it may be wise to evaluate the economic stability of the area as well.
Last but not least, look at properties that were sold recently in the area. Recent sales activities can give you a better idea of current sale prices and how well properties are selling. An area where there is a lot of interest in investment properties may require extra capital, so it is best to be informed before you submit your bid.
Can Liberty Help With My Research?
Instead of having to find out all of this information by yourself, property investors can also access key insights from Liberty
who provides free online property reports. The Liberty
property report will give you all of the necessary information to turn your property investment dreams into reality, so do not hesitate to take advantage of this free service when you are in the market for a property investment.
If you need finance for your next investment property, talk to the experts at Liberty
today. Explore liberty.com.au or call 13 11 80.