Plan your approach:

HAVE A GOAL when you are looking at property. Is this a first step in a portfolio you are building? Are you a seasoned investor? Aim for a minimum of 5 years to hold onto the property, the past 100 years indicate that properties double in value every 10 years. Are you considering a permanent residential rental property or a holiday letting property? Aim for good value and the best possible location.

YOUR BUDGET needs to be realistic and what you can afford. Have your finance preorganised
so that you have a figure in mind rather than letting your heart rule your head. Negative gearing has many benefits and if you are unfamiliar with them – seek professional advice. You may find buying a brand new 2 bedroom property over an existing established 3 bedroom property has many tax advantages such as depreciation.

Ensure your property meets the following minimum criteria:

POPULATION stability whether established or growing needs to be in place. This is to cover the supply and demand cycle. South East Queensland has proven that growth trend favourably. When you review the statistics and research such as the Queensland Government South East Queensland Regional Plan 2009-2031, July 2009. The detailed plan summarised ‘from 2006 to 2031, 754,000 additional dwellings will be required to cater for population grown in SEQ and provide housing choices for a more diverse population.’

EMPLOYMENT OPPORTUNITIES are paramount when considering a location. Even though you may be able to buy a 5 bedroom sprawling homestead in a rural area you won’t succeed unless you have a readily available supply of tenants to pay the rent. Queensland is famous for tourism however this industry although very important is now accompanied by additional industries including commercial, retail, industrial, health, education and technology supporting the continuing growth in the SEQ region.

COMMUNITY INFRASTRUCTURE needs to be present whether existing or planned in the near future. People want to live somewhere safe, healthy, with education and health services. When you imagine yourself in the shoes of a tenant – why would you want to live there? Proximity to shops, schools and transport all play an important part.

LOW MAINTENANCE properties are the ideal investment. You don’t want to select a building that has a high body corporate with a large sinking fund expenditure due to poor body corporate management. When looking at house and land select low maintenance yards with minimum fuss. Consider getting a building inspection report on the property prior to making an offer. Leave the construction details to an expert. The last thing you want is to be replacing electrical wiring, roof tiles or poor plumbing.

Contact Glow Properties today for more information on how we can assist you with your investment property. Click Here!