When you set out to invest in property there are some important things to sort and prepare first, such as finance and budget. But these are not the only decisions to make and you will soon learn that there is so much more to consider.
Our specialist team at Fountain Property Group will expertly guide you through the process of stepping onto the investment platform. From here we can help you nurture your dream for wealth through further property investments if that is the path you wish to take.
To assist you in understanding some of the decisions and steps you will be taking on this journey, we offer some tips for investing in property.
Right property, right price
Buying the right property for the right price is vitally important when investing. Understanding the market and having some knowledge and patience will put you in good stead to securing a great investment at the right price.
Ideally, you want to invest in a property that will grow in value. Our expertise and knowledge in the industry will help you in achieving this by applying research and experience. With our help you can be sure of the value of the property you have in mind and whether or not it has enough capital growth potential.
Budget and finances
We have no doubt mentioned it many times before, but it’s always worth saying again; get your budget in check. An investment can’t be a successful one without first ensuring it is financially viable. Talk to your chosen lender; be sure of the outlay, your expenses and ongoing repayments.
Remember that property investment is usually long term so look ahead and decide if you can cover payments and all costs involved for an extended amount of time. Make sure that you have investigated all home loan options available and have made the right decision regarding what suits you.
If you already have other properties consider if you will use the equity in these to assist in your next investment and if you will be negative gearing, amongst others. Create a long-term, inclusive plan in respect of what is current and where you are heading.
After we have assisted you through the buying process it is imperative you choose a good property manager. Your investment relies heavily on excellent management and decent tenants being in place.
Without an efficient and experienced property manager you will run into all kinds of issues that could end up being costly or simply result in a loss of income on the property.
Contact our team at Fountain Property Group today for more information on successful property investment and tips on making the right choices.