If you’re on the hunt for the best property investment Australia, then you’re not alone! Property investments are one of the most popular ways for people to earn passive income without requiring any specialised knowledge. You don’t need to be an expert programmer or a trader to earn income from property investment.
The key, of course, is to pick the best opportunity. So, whether you’re looking at Perth, Melbourne, Sydney, or anywhere in between, here are three tips for finding the absolute best property investment Australia deal!
The Best Property Investment Australia Will Have Low Vacancy
If you ask a landlord what one of the primary challenges is with renting a property, they will probably answer “vacancy.” If you aren’t renting out your home, then it’s losing money. When this happens, if you have a property investment that has a mortgage attached to it, you’re on the hook to make those payments in addition to the other monthly payments you have to make.
When looking at property investment opportunities, pay careful attention to possible vacancy rates. While a small home in a remote town might seem appealing on paper, it often isn’t because you don’t have the same ease of finding tenants as with a place like Melbourne or Sydney. Therefore, pick a property that will have low vacancy so that way you will always have a passive income!
Your Property Should Have Growth Potential
The best property investment Australia will have equity growth potential. If you make your purchase in a big city like Melbourne, this generally isn’t a problem. With that said, across Australia, experts expect property prices to rise during 2020. Therefore, if you stick with large metro areas, you should expect to see your investment have not just passive income but capital growth as well.
If you ignore capital growth, you’re missing out on one of the best parts of property investments. There is something deeply satisfying about receiving monthly cheques and being able to sell your property for more money in the future.
Property Investments Should Have Fantastic Features
One of the best ways to keep property vacancy rates low is to have a home that everyone wants! If you buy a property near schools, shops, and transport options, then you will have no shortage of people that want to live in your particular property. However, if you buy something isolated and secluded, you may find it challenging to find someone willing to lease it from you.
Inside the property, look for “appealing features like a second bathroom, [or] a garage.” When you have these types of extras in your home, again, people will want to rent it out. The increased appeal plus the increased interest will help keep your rental income high and keep people wanting to be in your unit!
Finding The Best Property Investment Australia
If you want the best property investment Australia venture, look for one that is likely to have a low vacancy rate, has equity growth potential, and has fantastic features that will keep desirability up.
With prices rising across the country, finding the perfect property investment may be challenging. However, with the experts at Buy Australian Property, we can help get you set up with property investments!