IMB Bank’s Dermot Gildea talks about the things you should consider when you’re thinking of buying an investment property.
There are few basic questions that every budding property investor needs to ask before starting to look at properties.
| Do you want to purchase a house or a unit? |
| Units tend to be found in dense urban areas and may have good capital growth as a result of their proximity to city amenities, while houses are generally larger but tend to be in more suburban or regional locales. Each has a different general tenancy pool; units often attract students, young people, and sometimes downsizers, and houses often attract families. |
| Consider an existing building or off-the-plan? |
| Weigh up what is best for your individual needs. Pre-built properties generally have the advantage of being available immediately, where buying off-the-plan means you have to wait for construction to finish. |
| Regional or capital city properties? |
| Investors sometimes cluster their properties in capital cities, or in urban hubs, as rental prices may be higher in these areas. However, regional dwellings could be a solid choice for investors as often the more distant a property is from a city centre, the cheaper the purchase price. Anyone looking to invest in a property needs to access capital, so talk to the team at IMB Bank can help you discover the range of financing options available to you. |