The property market is starting to see a surge of new and existing investors. It is very important to stress the need to do due diligence before any purchase. It is recommended that any investor, new or old, look beyond the low interest rates at present and see the bigger picture of property ownership.
Where to buy? This comes down to the individual, personal and financial circumstances. Properties located near schools, transport, employment opportunities and social venues are usually the most in demand properties to rent.
As well as looking at the ideal location, another important element to consider is your home loan repayment ability, both now and in the future.
Finally, make the investment work harder for you – repaint the walls, replace carpets, landscape or whatever is required to make the property attract quality tenants and help maintain the property to a good standard. Any improvements to an investment property can be depreciated. Therefore it is very important to seek the advice of a Quantity Surveyor.