Property investment is on the rise once again in Australia and many people are looking to capitalise. Follow these key steps for successful property investment, as suggested by Property Observer.
Research is essential in identifying the suburbs that are best for investment and determining what sort of house to buy. Consider developments that may affect the property when researching too.
Two beds and two baths
The ‘two plus two’ dwelling is a safe investment for people looking to rent out a property. The double capacity makes it easier for individuals to afford the rent if prices should rise again.
Investing in renovating a property is fine, but you need to limit your output so that you can actually benefit from the return.
Keep a safety net
As the GFC demonstrated, nothing is certain in today’s economy. You will need a safety net so that you can survive if the economy should decline.