Owning an investment property isn’t just about owning the bricks and mortar – it’s about maintaining financial discipline and managing your investment carefully. While working with professionals like accountants is important, you need to stay on top of your mortgage, tax obligations, and potential benefits like negative gearing.
Here’s what to consider when searching for your ideal property investment:
1️⃣ Vacancies: Check rental vacancy rates in your target area. Too many vacant properties may signal low demand.
2️⃣ Rental Income: Ensure the rent you can charge aligns with your financial goals.
3️⃣ Future Developments: Be aware of any large housing developments nearby, which could impact property values and rental yields.
4️⃣ Employment: Areas with strong job markets typically attract renters and maintain solid rental returns.
5️⃣ Entertainment: Proximity to cafes, restaurants, and entertainment can help attract professional tenants.
6️⃣ Neighbourhood: Look for properties near universities, hospitals, or other key employers—great for attracting long-term tenants.
7️⃣ Schools: Properties near quality schools tend to attract families, offering potential for longer-term leases.
8️⃣ Crime Rates: Low crime areas maintain property value and provide more security for tenants.
9️⃣ Council Rates: Compare council rates in your preferred areas, especially if considering interstate investments.
Want tailored advice for your mortgage or to explore more options? Reach out today! Call me at +61 424 194 688, or click below for a free consultation.
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Looking to invest in property? Here are 9 essential guidelines to help you find the right investment