Research

Without a doubt the most important part of any investment in any market is research. Too often an unwary investor will purchase on the say so of an agent without considering the agent’s vested interest in making a sale. It won’t take too long studying a suburb or town to have a good knowledge of sale prices, rental returns and vacancy rates. If you are looking into smaller towns or areas, looking at things like median age and employment opportunities will make sure you aren’t buying in a town with one employer that’s about to close it’s doors.

Inspection

Open houses give a great indication of what homes are worth before and after any renovations, so you can then get an excellent understanding of what approach is best for you: a do-er-upper or something ready to go.

Common Sense

Keep in mind that this is an investment, not a home, so what you are looking for takes a different perspective. Make sure your head rules your heart and don’t rush.

If you need to know your borrowing power or have any questions, you can contact me on 0402 203 303 or email rob@rwfs.com.au