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Have you got the property bug and looking to purchase an investment property? Leading real estate professionals Century 21 Gold Manurewa have five hot tips for success when buying an investment property.
Double-Check Your Finances
We know it might be hard especially when you got your sights set on the ideal property, but it’s critical to evaluate your budget realistically. This is to ensure that you accurately know whether or not you can afford the monthly cost of an investment property. At Century 21 Gold in Manurewa we can guide you of the actual costs of buying an investment property.
Capital Gains And Rental Return
While making choices regarding your home property will be principally influenced by emotional reasons, such as personal taste, your property investment will need a different method. You will need to make decisions with your head and not your heart. The best way to do this is to view your investment property is terms of financial risk and return. “You need to contemplate both the rental return and the potential capital growth,” says Derryn.
Also consider how long you intend to hold your investment property. A lot of financial advisors believe that the least amount of time for investing in property is five years to allow sufficient time for capital gain.
Location can be the ace up your sleeve when it comes to property investment. Spend some time and do your due diligence by researching areas before you invest. This can save you in the long run. Selecting the right areas is not as straightforward as it sounds. “Try put yourself in the shoes of your future tenants when deciding upon location; think about what they need and value,” advises Derryn.
Ask An Expert
Talk to Century 21 Gold in Manurewa about vacancy levels, rental levels and expected future capital growth of the area. “We can help you get a fantastic understanding of an area before you purchase a property in it,” adds Derryn.
About Century 21 Gold:
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.
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