An increasingly popular avenue for investment is property, with a number of markets across the nation becoming potential hotspots for smart buyers to establish themselves and make a decent return.
However, if you're considering taking out a property investment loan, there are some things to think about before taking the plunge and purchasing real estate.
Anyone interested in looking into buying property in a capital city will need to consider the type of tenant they'd ideally like to attract. This will give you a basic direction to follow when it comes to your other decisions.
For example, young professionals are more likely to be looking into smaller dwellings – such as apartments – that are generally located closer to the city's central business district, allowing them to be closer to their work places and reduce the amount of commuting time.
On the other hand, families are generally more suited to larger properties in the suburbs. Therefore, potential investors will want to consider things like the location of local supermarkets, outdoor recreation areas and schools.
However, investment isn't all about satisfying the needs of your tenants. Something that needs to be considered is where the up-and-coming property hotspots are located, and investigate purchasing real estate near them .
The overall goal from investment property is to earn a return. Therefore, doing your research, discussing your options with professionals, and coming to a conclusion about potential growth areas is an important part of building a strong, profitable property portfolio.
There are a wide range of factors to consider, so contact a financial professional today to chat about the various home loan options available to you and find one that best suits your needs.
You can contact a Smartline Mortgage Adviser on 13 14 97 for home loan advice. Or complete our call request form and we'll call you!
DISCLAIMER: The information contained in this article is correct at the time of publishing and is subject to change. It is intended to be of a general nature only. It has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on this information, Smartline recommends that you consider whether it is appropriate for your circumstances. Smartline recommends that you seek independent legal, financial, and taxation advice before acting on any information in this article.