Having spent over 50 years working in the finance industry and being able to share my vast knowledge and experience still gives me a great deal of satisfaction. That said I would like to share the following information with you. In recent times, I have found that when people are researching new suburbs and locations for possible areas of property investment, the majority of these people are unaware of the right questions to ask when they are trying to make an informed decision.
So, I have prepared this property investment checklist to assist you and other investors in asking the right questions. It will help you in making a profitable investment. I have also provided some useful information for you to read. These questions and information should assist you when you are trying to make an informed decision.
You should start by asking yourself the following questions:
Question # 1
Is the property you are looking at close to existing or planned infrastructure?
Tenants will be more readily attracted to your investment property if they know that infrastructure is already in place or if the infrastructure is being planned.
What transport options are available to your tenants?
You will need to assess what transport options are available to your tenants such as:
>> Train lines;
>> Major arterial roads;
>> Road networks;
>> Freeway access;
>> Footpaths; and
>> Cycle paths.
Question #3 invest in property london
How many rental properties are available in the area?
You should look at suburbs and locations where there is a high demand for rental properties. It is important because it will offer you with good opportunities and also decrease the likelihood of your investment property sitting vacant for any length of time.
What are the property prices of the area?
You should look at suburbs and locations where there is evidence of consistent and steady increase in property prices and try to avoid areas that have suffered from plummeting price drops.
What are the benefits of buying a new or established investment property?
You should carefully weigh up the benefits of buying a new investment property versus an established investment property (i.e. as new property can provide considerable tax benefits and advantages).
What is the demographic breakdown of the area?
You want your investment property to be located in a neighbourhood that is welcoming to your tenants and where you have an improved chance for resale. So, when considering a suburb or location you should research: