When it comes to investigating property for sale in Australia, the location of the house is one of the main factors that will contribute to the overall value of the property. Real estate, much like stocks, changes over time – either increasing or decreasing in value.
Properties in a great location are more likely to experience an increase in value, while poor locations are less likely to see major changes between each cycle. Furthermore, well-located homes are likely to have their high value periods last longer than their unfortunately located counterparts.
And since most investors who purchase property are aiming to hold the property for a relatively long period of time, in order to make the greatest returns possible, the location of the property plays a major role in their investment decisions – it isn’t easy to simply up and move your property to another, more suitable location.
But location also plays into how successful your investment property will be in the interim. If you’re considering turning your investment into a rental property, try to imagine your home from the perspective of a potential tenant.
Ensuring that the home is located close to local amenities is crucial. Supermarkets, public transport hubs, motorway ramps, and parks are all factors that people are looking into when they’re considering becoming a tenant in a property.
It would pay to investigate the local schools and where they are in relation to the property.
Making sure that your property falls within the zones of the local schools is a fantastic way to widen your potential tenant pool. After all, a young family with children, or with plans to have children, will be more likely to seriously consider a home that offers them education options for their kids.
Furthermore, the distance to the closest city or central business district should factor into your decision. This is for individuals who work in the city needing to know exactly where they stand in terms of distance from work and the types of transport available to them.
These are just some of the factors that could influence a potential tenant’s decision to choose your property over another one, so it pays to give these issues some serious thought.
Getting in contact with a professional real estate agent will give you the ears and knowledge of a professional in this area. Their expertise about an area’s recent auction clearance rates, predicted investment hotspots, and which suburbs to seriously consider will be extremely useful for your investment needs.