As experts in Tasmanian property investments, we love talking about all things real estate. And today we’re going to share with you some of the core ways you can ensure you are making a good property investment. These are the main ways you can quantify whether or not your property investment is a good choice.
What to look for in a sound property investment
Today we’re sharing some of the main considerations when weighing up whether or not an investment property is a sound property investment. Here’s what we look for at Buyer’s Agents Tasmania to make expert decisions and find great investment properties for our clients.
1. Look for a property in high demand
One of the main ways to know if you’re onto a good buy is to see how many other buyers are interested in the same property. If a property is in high demand, there is usually a good reason for it! But not only do you want to find a property that is in high demand when you are buying (because it will likely still be in high demand when you sell), but also to be in high demand in the rental market. Look for areas that are experiencing high population growth, plenty of employment opportunities and established infrastructure.
2. Consider local amenities
Another obvious way to ascertain whether a property will be a sound investment, is to consider the local amenities surrounding the property. When looking at a neighbourhood, consider whether there are nearby schools, shops or cafes, a swimming pool and community parks for kids.
3. Understand the buyer demand
Not only is it important to find a property in high demand for buyers and renters, but it is even better to understand buyer demand. Talking to agents will allow you to better understand who the buyers in the area are, and what kind of renters are looking to rent in that area. The more you understand about the market you are looking to buy, the better! At Buyer’s Agents Tasmania, we take all the hard work out of researching the market for you. If you are considering engaging a buyer’s agent to better navigate the real estate market, get in touch with us today.
4. Location, Location, Location!
Our last piece of advice for first time investors, is to consider the location of the property. When we purchase properties for our clients, we are not only considering the neighbourhood but the area of the neighbourhood, the natural light of the home, the floor plan and the quality of the build.
If you are considering starting your property investment search today, get in touch with us at Buyer’s Agents Tasmania! We are experts in the Tasmanian property market and help countless first home buyers and investors purchase properties in Tasmania.