Property investing basics – what to look for in an investment

Making Informed Decisions

Have you been like a cat at a fish bowl, looking into the Australian property markets only to find yourself unable to make that final commitment? To help you we have spoken to some of our property management experts who lives and breathes property and asked them to share what they believe makes a good investment.

Where You Buy

Location is obviously the most important, and that can be narrowed down as much as a street, or even an aspect of the street that can make a significant difference to the potential growth of a property’s performance,” our agents said.

They assert that if you are looking for an area to invest in, a good rule to stick by is to ensure that it is within a 10-kilometre radius of a major city hub – an even smaller distance for smaller cities like Adelaide or Perth.

“Also, it’s sometimes a good idea to start your investment portfolio in an area that you live in, because you’ll know that market more than anyone else does,” they said.

What You Buy

Our Property Managers stress the importance of not only focusing on the quality of the property you purchase, but also the size.

They have seen owners in the past caught out that way. They’ve gone and paid a price for a three-bedroom terrace, say in an area like Surry Hills, and it ends up becoming a two-bedroom rental because of the size of that third bedroom,” they said.

If you’re a first-time investor and can’t decide between purchasing a house or a unit, it is recommend you discuss your objectives with your local LJ Hooker real estate agent and their experienced Property Management team as they will have a good perspective as to the rental capability of the property.

“Buy into an apartment building that is fairly modern – nothing too old where there could be a special levy raised as suddenly the building needs repainting because it’s 30 years old or the fire alarms need to be upgraded, for example,” they said.

When You Buy

Our agents believe there is never a bad time to buy property, you just may have to look in different areas depending on what the market is doing.

“The property market is only as abundant as the people pushing it. As soon as they step back, it is often an opportunity when you should jump in on investment property,” they said.

A proper understanding of the market is crucial. Going to open homes and viewing auctions to paint a clear picture of the market. If they’re all going crazy then that’s an indicator that it’s time to take a step back and wait for things to settle down.

Any Other Tips?

As some final pieces of advice, our agents said to not expect quick profits from property, be patient, take your family and friends’ critique with a grain of salt and ensure that you “engage a skilled and qualified property manager that has a good reputation, because that could make or break the investment”.

Why Use Video to Sell Your Home?

The popularity of videos is growing and buyers love them

Help Your Property Stand Out

When selling a home, it can be a struggle to make it stand out from the crowd. No matter how wonderful your property is, there are many loud and bright advertisements to compete against when you put your home up in online listings.

One selling technique you can try that many don’t think of is getting a professional to shoot a video of your home. With more and more people using smart phone technology, ease of access to video information is greater than ever before. But why should you use video for your home sale?

When you get a video shot of your home, you are instantly offering an up-close and personal look at your property that photography and words cannot provide. The sounds and visuals are much more vivid, and you can run a ’walk-through’ of the property, giving viewers a great feel for the flow of your halls and rooms.

It’s a level of closeness that can only be matched by seeing the home in person, only now you can broadcast it to the whole internet. It’s effectively a beautiful window into your home that can be accessed 24 hours a day!

You Can Make the Property Look Its Best

When you use video to depict your home, you can really show off the best angles and views throughout the property. When you engage a professional to shoot your home, they will understand where the light shines through particularly well and which shots are most effective for certain rooms. You can end up with a beautifully tailored video that will have your home shining bright like a star!

While it can be tempting to jump in front of the camera yourself, remember that it is vital to present a ‘blank slate’ with your home onto which buyers can imprint their own life.

You Can Look Like a Professional

By getting the technical aspects of your video right, you can make the charms of your home work within a professional setting, catching the eye of anyone looking to buy real estate. Take your time when choosing who will video your home, and make sure they take extra care with lighting and sound. You don’t want wind to muffle the outdoor shots, and a true professional should have the right gear to manage light throughout the home.

Hiring a professional to video your home may not be the absolute cheapest option, but getting a superbly shot video sequence can enhance your sale prospects greatly.

If you don’t have the equipment or know-how to get a great video of your home, consider talking to a real estate agent who does!