|Not a member? Sign up now!|
Looking at getting an investment property? Many novice investors think that you can choose an investment property the same way they choose their own home. However, you need to apply a whole new way of thinking when buying an investment property.
Drawing on a wealth of experience, the New Zealand Property Experts at Century 21 Gold Real Estate in Manurewa has some basic tips to help you get that investment property.
Know your budget:
Getting an impression of how much you can borrow is the first step you should take when looking at buying an investment property. It will give you a general idea of your target price range, so you can narrow your property search within your purchase budget.
You will also need to make sure that the ideal property is suitable for the type of tenants in the area, e.g. low-maintenance apartments for busy professionals or families that want a good school zone.
Don’t Buy a Fixer-Upper:
Unless you have a contractor that does quality work on the cheap or you’re skilled at home improvement, you will likely end up paying too much to renovate. Instead, look to buy a home that is priced below the market that needs only minor repairs.
Is the property in a location that will be well-tenanted or is likely to experience property price growth? The quality of the neighborhood will attract good tenants. Look at the proximity to employers, schools, parks, and public transportation.
Century 21 Gold Real Estate Manurewa offers its clients a full range of residential and rural services as well as Property Management. So for whatever your real-estate needs, contact the team at Century 21 Gold.
Contact Century 21 Gold Real Estate Manurewa:
Address: 25 Station Road Manurewa Auckland 2102
Postal Address: PO Box 75459 Manurewa Auckland 2243
Phone: 09 267 8980
Fax: 09 267 8982
Phone: 0274 587 724