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Lizzie's Hot Property Listings

What to look for in an investment property

Last month we examined when to invest in real estate and established that you don't even have to own your own home to invest and make your property work hard for you. There is a heavy demand in the mid-mountains for rental properties and there are many potential properties on the market ready for your inspection.

This month we look at what makes a good investment property. In order to come as close as possible to a guarantee of a good rental income, key points to look out for are:

  • Properties close to public transport
  • Properties close to schools or employment
    • Properties with a good rental history
  • Structurally sound properties which are not likely to drain your finances for general maintenance
    • Low fees, such as water rates
  • No or low body corporate fees
    • Check for any planned developments, such as main roads or highways changes which are likely to decrease the value of the property
  • For a high capital gains potential, look for properties in rapidly expanding areas.
    • The current high demand is for bushy outlooks, quiet streets and quality homes with a "Mountains ambience".

    At the moment there is healthy competition in the banking industry for the investment market. A good financial lender will also have the experience and resources to make the investment flow efficiently from the start and make the interest on the investment work hard for you. At Ray White Real Estate, I have found Chris Bye, the investment lending manager at the Commonwealth Bank in Springwood to be very helpful and professional. Whoever you use, be sure to question carefully, and ask them to explain anything that is not clear so that you will be able to receive the best possible investment loan for your purchase.

    If you have any queries in the investment market in the mid-mountains area, please do not hesitate to contact me on 58 6281, I am happy to answer any question, no matter how big or small.

    Next month: Taxation benefits and Negative Gearing.

    To contact the Village Views, send us an e-mail to: bmvv@hermes.net.au