{"id":11504,"date":"2019-05-06T08:38:17","date_gmt":"2019-05-06T08:38:17","guid":{"rendered":"http:\/\/www.kravelv.com\/?p=11504"},"modified":"2022-04-11T22:42:18","modified_gmt":"2022-04-11T22:42:18","slug":"what-to-look-for-when-purchasing-an-investment-property","status":"publish","type":"post","link":"https:\/\/www.kravelv.com\/what-to-look-for-when-purchasing-an-investment-property\/","title":{"rendered":"What to look for when purchasing an investment property"},"content":{"rendered":"\n

Entering\nthe property market is a huge step. It\u2019s a major purchase that comes with a lot\nof considerations and risks. Whether you\u2019re purchasing a home to live in or\nyou\u2019re making an investment, it will require a large amount of cash, so it\u2019s\ncrucial to understand what to look for to maximize profits and avoid losses.\nWhen purchasing an investment property,<\/a> the processes and what to look for will\ndiffer from buying a home to live in. Here\u2019s what you should look for when\npurchasing an investment property. <\/p>\n\n\n\n

The Local Area<\/h2>\n\n\n\n

The city,\ntown and suburb a property is in can have a huge influence on the price<\/a> of the\nproperty and any future returns. Understanding this alone can help you make the\nright choice when buying an investment property.<\/p>\n\n\n\n

Buying a\nhouse should never be an impulse purchase. Instead you should conduct thorough\nresearch on the house itself, and the surrounding area. When buying a house to\nlive in, you will understandably visit the area, but for an investment\nproperty, this can sometimes be more difficult. Areas that are suitable for\ninvestment might be on the other side of the country and you may simply not\nhave time to conduct extensive research. Luckily, sites like Roofstock<\/a> review properties and provide\nextensive market analysis for investors. The site breaks down neighborhood\nstatistics and details the risks and rewards that come with certain properties.\nWith this information, included with 3D virtual tours, means investors never\nhave to visit a property to make a purchase.<\/p>\n\n\n\n

Regardless\nof how you qualify your investment property options, it\u2019s important that you\npurchase in an area that is experiencing or is due to experience high growth.\nThis growth will not only ensure that you constantly have tenants, but it will\nalso mean that your property grows in value. <\/p>\n\n\n\n

\"\"<\/figure><\/div>\n\n\n\n

The Property<\/h2>\n\n\n\n

The\nproperty might look great but it\u2019s important to understand why the property is\non the market. Is it a new, or old property? Who was the house built by? Make\nsure you check the house and take note of anything that will need to be\nrepaired or things you will want to update. This is important as you must\nfactor in these costs to your investment. <\/p>\n\n\n\n

Sometimes\nthe sellers will be selling for a reason outside of the property, such as a new\njob opportunity, however, sometimes a property is on the market for a reason\nwhich might make you reconsider making the purchase. As a smart investor, it\u2019s\nyour job to dig up any issues that could negatively impact your investment.<\/p>\n\n\n\n

 It can be valuable to get a building and strata\nreport as well as a pest inspection. These reports will bring to light any\nissues that may impact your investment further down the track. <\/p>\n\n\n\n

Your Finances<\/h2>\n\n\n\n

Whether\nyou\u2019re buying a house to live in, or you\u2019re making an investment, its critical\nthat your finances are in place. As we have said, a home is a huge investment\nand if your finances aren\u2019t prepared, you will likely have trouble making the\nrepayments on your loan. Understanding how much deposit you need<\/a>, your borrowing capacity and any\nextra costs will help you avoid any problems down the track.  <\/p>\n\n\n\n

Once your\nfinances are in check, it\u2019s crucial to calculate the expenses and profits\nbefore you make the purchase. The more research you do, the safer your\ninvestment will be. Calculate how much money you have, and how much you can\nborrow, and compare that with how much the property will cost a long with how\nmuch any renovations or repairs will cost. Next, calculate how much you can\nexpect to resell the house for, or how much rental yield<\/a> you will receive. Calculating these\nnumbers will prepare you for making smart investment decisions. <\/p>\n\n\n\n

Investing\nin property can be a great way to earn a passive income through rent and build\nup your wealth assets. However, without the proper planning and knowing what to\nlook for, an investment property can be a serious financial mistake. <\/p>\n","protected":false},"excerpt":{"rendered":"

Entering the property market is a huge step. It\u2019s a major purchase that comes with a lot of considerations and risks. Whether you\u2019re purchasing a … <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[6],"tags":[5667],"yoast_head":"\nWhat to look for when purchasing an investment property - Kravelv<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.kravelv.com\/what-to-look-for-when-purchasing-an-investment-property\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What to look for when purchasing an investment property - Kravelv\" \/>\n<meta property=\"og:description\" content=\"Entering the property market is a huge step. 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