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The Managing Director of Buying Perth Real Estate, Clive Elliott, discusses who is ideally suited to the services of a buying agent, how a buying agency operates, and the cost of engaging us to help you.

Author's Name

Clive Elliott

Phone

08 6215 0200

Web Site

https://buyingperthrealestate.com

Email

CLICK HERE

Real estate is a tangible asset that almost always increases in value. Since it cannot be lost or stolen, it is one of the best and safest ways to build your wealth.

Property investment can be rewarding if you know how to do it properly. It is not just about buying and selling a property. It requires ample research and strategy to find the best investment property. As much as real estate investing can give you a lucrative profit, it can also bring you to massive debt. Here are some tips on how to find the Best Properties to Invest in:
Assess your finances.
Before investing in any property, you must first start by assessing your finances. Check how much money you have on hand, your credit score, and your income. By making sure that the status of your finances is enough to buy a property or to apply for a mortgage loan, you will be able to go forth with your decision confidently.

Many foreclosures happen because of a lack of planning and foresight. Make sure that the property you choose to buy is within your means. Consider possible emergency scenarios that could occur and prepare for the worst.

Find an Experienced Buyer’s Agent
Experienced buyer’s agents know best when it comes to finding the Best Properties to Invest in. Having knowledge and experience, buyer’s agents can help you throughout the buying process. They can give you market advice, great neighborhoods to choose from, and can even go as far as negotiating contract prices for you.

You don’t need to worry about the buyer’s agent’s fees as you can save more money on the contract price when you hire a buyer’s agent. Aside from getting the best properties, you will be able to save time, money, and avoid stress when you hire an experienced buyer’s agent.
Assess the market
In choosing an investment property to buy, you must first make a market assessment. There are many factors that could affect the rental market such as the economy, accessibility, demand, and price.

Consider whether you are buying in a buyer’s market or a seller’s market as it would affect the price and how fast you can buy a house. Find out if there is a high demand for rental properties in your area and how much the average rental price is. Is the population in the area increasing or are people moving out?

For example, for Perth real estate, are Perth prices going up? After the government’s effective handling of the pandemic, Perth property prices have gone up and are expected to rise faster soon. By assessing the market, you will have an idea of what type of property to buy and how long it will take you to reach your return on investment.



Determine your criteria.
What are you looking for in an investment property? If you have already determined that the current market is a good market to purchase a property, you need to have a plan. What do you plan to do with the property that you will buy? This will help you identify what type of property you need to look for and find the best location based on your objective.

There are two main categories of property: commercial and residential. Both categories can be used as an investment property, depending on how you plan to use it.

There are different types of commercial properties - office space, warehouse space, retail space, and mixed-use space. Office spaces is a space that you can lease to a company or group of people who would like to use it as an office. Warehouse space is a storage area that people can rent. This is ideal for companies that have a lot of products or items that they need to keep. Retail spaces refer to malls or properties that lease to store owners. A mixed-use space can be a commercial space with a mix of the spaces mentioned above or a mix of commercial and residential space.

A residential property can also be profitable through rental spaces. You can rent it out to families or individuals who are looking for home rentals. Just ensure to check the area’s regulations about renting as some might have rules in the rental durations for the properties in the neighborhood.
Choose an Ideal Location
Location is everything when choosing investment properties. Get to know the area where you plan to buy a house and immerse yourself in the community. Scout for rental properties and find out how they are faring to find out if there is a demand for rental properties. Are there many rental places that are vacant? Or is every apartment or commercial space fully booked?

Check the area’s accessibility to schools, workplaces, and essentials like grocery stores and hospitals. How about the neighborhood’s crime rate? Does your chosen property have any amenities? Think wide and think long-term as you determine whether it is worth it to buy an investment property in that location.



Seek assistance from an expert

While all these factors are important in deciding to invest into real estate, it really takes an experienced specialist to discover all the things that aren’t easily noticeable by first home buyers. This is where a Buyer’s Agent becomes valuable. They can help you save time and money by providing expert advice and recommendations based on their vast knowledge about real estate.

Investing in Perth real estate will be much easier if you have someone who can guide you in the process and research for you. You’ll be putting money in it, so it is just right to consult a professional. Buying Perth Real Estate has experienced buyer’s agents that can recommend potential properties, help you assess your options, and identify the best property to invest in.

Feel free to send an email to clive@buyingperthrealestate.com or give us a call at 08 6215 0200.