Buying an Investment Property

Preparation is paramount when it comes to buying your first investment property. Although not an emotional decision, buying an investment property does require a large amount of homework to ensure you capitalise on your purchase.

Understanding key elements that are applicable to the rental market is influential when purchasing an investment property.

There are certain aspects to bear in mind when inspecting future investment properties. Firstly, for the sake of capital gain and your return on investment, and secondly, the appeal the property will have on potential tenants. Potential tenants often look for properties that are close to transport, shops and facilities.

The difference between purchasing a house and a unit is usually significant financially. Often a unit is a better option than a house for investment, due to the fact that there is less maintenance required. The down side is that units generally achieve less capital growth than houses.

Regardless of what option you decide on, it is an absolute must to obtain a professional building inspection.