You’ve heard it once. You’ve heard it twice. You’ve heard it a thousand times. When it comes to property investment, it’s all about location, location, location.
That’s because while you can change pretty much everything about a property, including its condition and size, you can’t change its location. And location is the critical factor impacting both rental demand and capital growth potential
So you need to be savvy about where you invest if you want to generate positive cashflow, build equity and secure your financial future.
But Australia’s a big country. Apart from our eight capital cities, we’ve also got dozens of regional markets to choose from. So how on earth do you choose the right place to invest? By doing these four things:
- Cast your net wide
The right investment property could be located anywhere in Australia. So you need to keep your option open, not just look in your own backyard.
- Research supply and demand
As you start looking at different property markets, pay close attention to:
- Property values
- Vacancy rates and rental yields
- Local economies and job markets
- Planned infrastructure developments
- Avoid analysis paralysis
While picking the right location is vital, it’s also important not to get bogged down in detail. Otherwise, you’ll be crippled by indecision – otherwise known as analysis paralysis. This is when you’re so determined to get absolutely everything right, you’re too scared to act and you end up ‘missing the boat’.
- Get expert help
Remember, you don’t have to go it alone. An expert buyer’s agent like Investors Dream can advise you on where to buy, and then help you negotiate the purchase of a quality cashflow-positive investment property.