Buy in an up – and – coming area
Choose a flexible home loan
Buy with your head, not your heart
It’s important not to get caught up in the emotions, although this is easy to do! It’s ideal to strike a balance with an affordable, functional property that has one or two features you really like or that would resonate with tenants.
Maximise the value
Investment returns depend on many factors including property condition. Get creative and think about how you can boost your property’s value for the least amount of money. This might mean adding a new room or repainting the home.
Renovate, but don’t overdo it
While it’s important to increase the value of your home, renovations cost money. Your property doesn’t need to be top of the market. Lower–end houses that look modern but have middle-of-the-range fixtures sell too.
Have a backup plan
Make sure your property checks out as a rental in case the market drops. The housing market can fluctuate at any time due to the economy and world events such as the pandemic.
Consider non-traditional investments
An investment property doesn’t have to be a house. You could invest in an office space, storage area, shopfront or warehouse and rent it out. The world is your oyster!
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