If you’re looking to get into the property investment ladder then you’ll need to make efforts to understand the challenges you’ll be facing. For first time buyers here are some tips that could help you out:
The first important thing to know is that knowledge is power. The more knowledge that you have about the area, the property and the market, the easier you’ll find it to buy something that is going to offer you a good return.
Capital growth is important too and you’ll need to remember that you’re looking for a property that will grow in value rather than one that is valuable when you first get it.
It’s also important to understand cycles in the market because its condition will fluctuate. It’s best to buy in the winter because there is less demand and sell in the summer when people are out on the hunt for a home.
Location is perhaps the most important factor in property investment because suburbs perform or fail as a whole. If you buy in a suburb with falling property values then you could see yours drop in value too.