Real Estate is one of the best investments you can make for your future.
You have something tangible to hold on to and look at and if you buy correctly, whilst there may be little blips in the market, there is rarely, if ever, a total meltdown like there can be in volatile industries such as shares.
Yes, it’s true that you do have to spend a little more time searching and researching or conducting what is commonly coined “due diligence” but the truth is that once you know your area of choice you can begin to make informed decisions just by knowing the address!
Fountain Property Group comprises a group of enthusiastic individuals who walk the walk and talk the talk. We are all property investors ourselves so we know what we are talking about and today we want to share with you some golden tips to help you decide when you are ready to plunge into the market or a particular purchase.
If You Have Cash or Equity You Can Invest
Obviously, money is the key ingredient in any investment. In the real estate industry it is essential to have some cash behind you.
This is not only to offer a decent deposit but also to have some money in reserve for that unexpected expense or repair.
If you have saved, inherited or gained a foothold in the savings area then you are well on your way to forging your own path into this diverse industry.
Knowing What’s What
Due diligence, as we have already mentioned, is essential.
When you find a property that has that particular tingle or buzz don’t be afraid to step back, look at the property from all angles and spread your search a little wider to see what there is to compare your choices with.
This may include other properties, other suburbs, and even data covering a sales history of the area, information from the local council and so on.
If you miss out, don’t panic, there will always be something else to interest you.
Back Up is Important
Once you have fully researched your suburb or area of choice it is important to look into the services available.
By this we mean:-
Does the area have a trustworthy management team in place?
Is there a reliable source of tradesmen to select from such as an electricians, plumbers and carpenters?
Don’t hesitate to call us for more information.