Buying and managing an investment property
Buying an investment property to rent out is a popular form of long-term investment in Australia. Houses and units are easier to understand than many other types of investments, yet they do have some issues you need to be aware of.
- Know why you want an investment property
- Buying an investment property
- Costs of property investment
- Pros and cons of property investment
Know why you want an investment property
The vast majority of people buy investment property to fund their retirement. An investment property is extremely tax effective with the added benefits of being mainly self-financing and having great capital gains.
Buying an investment property
Choosing the right property at the right price
Do your homework!
You only get one chance to buy right. Buying an investment property well is the best way to make money. There are lots of resources out there;
- Realestate.com.au is an excellent place to get a handle on the market
- Domain is the same. between them you can see what else is on the market and even recently sold properties.
- Corelogic has historical sales data on suburbs and down to individual properties
Understand the market and the dynamics where you are buying your investment property
Buying an investment property is a long term proposition. Many factors can influence the returns you can expect. Most local government areas will have long term development plans. These will show zonings. They will make population growth predictions.
8. Check the age and condition of the property and facilities