Property Investment in Queensland – It’s Location, Location, Location!
Entering the Queensland investment property market for the first time? It can certainly be confusing and a little overwhelming. Everyone has an opinion, especially on the best location to invest. It’s one of those hot topics of conversation, where everyone thinks they’re the expert.
It is important that you are confident enough to make savvy choices and to secure your investment future. The best way to do this is to ensure you are well-informed and that your investments are well-planned.
Below are some issues that Multi-Choice Home Loans suggest you consider before investing in properties around Brisbane and Queensland. So keep reading if you’re seeking some helpful guidelines that will help you meet your property investment goals.
The Neighbourhoods You Need to Know
Currently Brisbane’s Northern suburbs are the rising stars of sales activity. Suburbs such as Chermside, Nundah and Zillmere are good ones to investigate.
Although it has struggled in recent years, thanks to heavy infrastructure spending and improved affordability, the Sunshine Coast is now recovering strongly.
The Cairns property market is also mounting a solid recovery, boosted by infrastructure spending, improving tourism and strong Asian investment.
The suburbs in and around the Redcliffe Peninsula are now boosted by progress on the new rail link and proffer an affordable bayside lifestyle to potential buyers.
Toowoomba continues to grow thanks to its strong and diversified economy, affordability, and the boost from the gas industry in the nearby Surat Basin.
Things to Consider
No matter where you’re looking to buy, there are important things to consider for every investor. Knowledge is power in the property market, so consider these factors when you’re searching for the perfect investment property:
- Know the neighbourhood
A property that is close to infrastructure such as public transport, parks, schools and shops will often increase your chances of a good return on investment. A good neighbourhood will also increase the likelihood that your property can be liquidated easily.
- Have a solid plan
What do you want to achieve by investing? Is it capital gain over a set period of time or are you buying to generate a rental income? Your financial objectives may determine whether a unit or a house best suits your needs. Have a plan and stick to it.
- Know how much do you really have
Determine your own financial limits before seeking out a loan. Lenders will often highlight the maximum amount that you can borrow, so don’t let yourself be wooed into taking on a mortgage that you’ll find impossible to repay.
- Investigate your options
There are a range of options available to suit every property investment situation. Take the time to contact a good mortgage broker for assistance in finding a mortgage that works best for you. Securing the right finance will save you time and money in the long run.
- Don’t buy a ‘lemon’
Avoid the heartache and stress of buying a property that turns into the dreaded money-pit. Get an independent building and pest inspection as part of your pre-purchase reports. Not only are they likely to alert you to any faults in the property, they may also help you negotiate on price, should you decide to purchase.
- Get the right advice
If you lack the confidence or expertise to invest in property, consider a buyer’s agent. A good buyer’s agent can offer invaluable advice using their knowledge and experience when determining a property’s value. They will work on your behalf to negotiate the best price and, in general, can warn against poor property investments.
If you’re seeking reliable expertise and investment advice in Queensland, contact our friendly team at Multi-Choice Home Loans