A few posts ago we discussed the basics of using a buyer’s agent and highlighted the value proposition of having one work with you as you purchase your home or investment property—regardless whether it’s a Brisbane buyers agent, Sydney Buyers agent or Melbourne buyers agent.
Whilst most people still think that the main purpose of using a buyers agent is to get a better purchase price (well, it IS certainly a big part of it!), some are not aware of the other things that you must factor in in purchasing an investment property. And these things are part of the reasons why having a buyers agent is a logical decision. Today we will tackle one of those things—finding the right location.
So you’ve decided to invest in a property—but one of the first questions to confront is where to invest? Naturally, you would want to get the best bang for your buck but to achieve that, you need to do some hard work. You need to research and analyse. After all, finding a location is one of the key decisions in property investment that one needs to devote some time and lots of effort into it.
There are several factors one must consider in choosing a location for an investment property. The most obvious thing you need to factor in is your budget. Like we mentioned above, ensuring you get your money’s worth is vital in purchasing an investment property.
Another thing to consider in choosing the right investment location is your investment strategy. Are you aiming for capital growth or cashflow? Whilst no one can ensure growth of an area, there are factors one can assess and evaluate to discern whether a certain location has a potential for growth. Having said that, however, not all locations are viable for growth strategies like renovation and development.
This is where having a buyers agent will be a logical decision. A buyers agent can make the search for the right location easier by narrowing down the places that meet your strategy and your budget. The process of researching for areas that suit your requirements and analysing which ones have the potential for growth can be overwhelming. And not everyone has the knowledge, much more time to do all these.
Having someone to do all of these for you will give you confidence and edge to invest in a property or buy your own home.