First Investment Property
First Investment Property in Sydney
The past couple of years have seen the world of real estate change from what we have all been traditionally used to. Back in the day, most people would rent until they could afford to buy the property of their dreams, yet now more and more people are continuing to rent, and instead are looking at buying investment properties instead. It makes sense when you stop to think about it; the dismal economy has seen property prices take a nosedive across the board, and has forced many folks back into the rental market. That means that houses are seriously undervalued, but their rental value is at an all-time high, with competition for those spaces very tight indeed.
Buying first investment property
That has created a very strong buyer’s market, and has many folks looking to dip their toes into the real estate investment pool. It’s not something that should be rushed into with the sight of the first “For Sale” sign that you see, and you’ll want to make sure that your first investment property is not one that you will regret in the long term.
Location of first investment property
That means making the effort to do a little homework about your surrounding area, and finding out why one location is better than another for your first investment property. Your first goal then is to identify a city, or a section of the city, that you believe is going to experience sustained capital growth in the coming years. That location is most likely to be within 5 to 15km of the CBD, and should have a strong infrastructure already in place. That means that there will be plenty of shopping, schools, and public transportation in place, and all of it in an area that is well-established. Sydney is a perfect example of such a city, and with the population expected to increase exponentially in the next decade, it makes for a great investment opportunity.
Rental price of your first investment property
Those neighbourhoods that fit the bill will be very high on the list of prospective renters, but you want to be sure that you set the rental rate at a price that fits the neighbourhood. Doing that means taking a close look at your finances and figuring out what your monthly financial outlay is going to be. You need to make sure that the average rental price for the area is enough to cover all your expenses, so that you are not inflating the rental price of your first investment property just to meet your monthly budget.
First Investment property & property manager
It’s also a good idea to save space in your budget for a property manager. It’s easy to fall in the love with the idea of an investment property, but just as easy to fall back out of it when you realize the amount of time and effort that goes into being a landlord. The relatively small amount that you will have to pay in property management fees is well worth it, and will more than pay for itself over the long haul.
Category : Real Estate Investment
Studio Apartment | The Oaks Property Sales | The Oaks Property Sales
Feb 02, 2012
[...] Studio apartments were once thought of as the place where students or single people went to live, but there are a growing number of people who view a studio apartment as a very chic, modern way to live in a desirable part of the city at a mere fraction of the cost of renting a home or large apartment. It’s a great way to be at the heart of a thriving neighborhood, yet also close to all the amenities that you would expect to find in a big city like Sydney. It’s easy to see why studio apartments have become so popular, as modern designs have made it that a lot of functionality can be squeezed into the living space without the renter feeling like they are crammed. It’s also a great option for those on a fixed income, or who are in the process of saving for a larger place of their own, who want to be close to the Sydney CBD and feel as though they are a part of the exciting growth that the city is experiencing at the moment. Having that smaller space means saving money on monthly bills, as well as having a living space that won’t require a lot of maintenance. All of that makes apartment studio not only great place to live but as a First Investment Property. [...]