Investing in real estate can be an exciting and rewarding journey, but it’s not a decision to be taken lightly. When it comes to acquiring an Essendon investment property, the choices you make can significantly impact your financial future.
Below are 20 factors to contemplate before signing on the dotted line, designed to help you make informed decisions, mitigate risks, and maximise your potential return on investment.
- What do you want to achieve financially?
- How much will a bank lend you?
- What percentage deposit do you require?
- What investment strategy are you going to use?
- How many Essendon investment properties do you want in your portfolio?
- What type of property/s do you want to buy?
- What area do you want to buy in?
- Will you see a mortgage broker?
- Should you choose a solicitor or a conveyancer?
- Who are you going to take advice from?
- What is your strategy for researching the market?
- What are the vacancy rates in the area you are looking to buy?
- What are the average rents?
- Will you buy old or new property?
- Are you prepared to renovate?
- Can you afford to lose money?
- Can you afford the repayments?
- Have you done a cash-flow analysis?
- What growth indicators does the area have?
- Do you have an exit strategy?
Talk it Through With the Oldest Agency in the City of Moonee Valley
It can be an overwhelming list to consider at all once, but with the right advice and local market knowledge, you’ll be 20 steps closer to owning your first investment property.
Get in touch with our Essendon real estate agents to discuss your property goals and discover the single most important thing you can do today to bring you closer to investing in real estate.