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Why would you want to buy property in Melbourne? Answer: why wouldn’t you? Whether it’s a home to live in or an investment, there are loads of people out there itching to find property in this beautiful city. Brad Esposito, a BuzzFeed reporter in Australia said it well, “To live in Melbourne is to curse everywhere else you live for the rest of your life.”
Property investment has long been considered a reliable long-term investment for people in Melbourne and across Australia. For some, purchasing and managing investment properties is their core investment strategy, whilst for others it forms part of a broader investment portfolio. Before you can take the plunge, here are simple tips to guide you.
The popularity of real estate investments has been steadily increasing in recent years. This type of investment has become a common investment vehicle and has proven to be an avenue for creating wealth. While the real estate market brings about many opportunities, purchasing and owning a property entails a lot of hard work. To get you started, here's a quick look at three types of real estate investments.
What is a buyer's agent? It’s a term you may be familiar with, but do you know what a buyer’s agent actually does? Buyer’s agents are licensed professionals who find, evaluate and negotiate a property purchase on behalf of a buyer. They manage the buyer’s interests ensuring the buying process is smooth and leads to a positive outcome.
Buying a home is one of the biggest decisions you will ever make and also one of the most rewarding. There are a range of online tools available to help you find your dream home, however knowing when to purchase a home is a challenge. There are a number factors to take into consideration and one of them is timing. Timing is very important when buying real estate. From a market perspective, you should aim to purchase a property at a time when the market is trending or predicted to trend positively. In addition, it is important to consider your current employment and lifestyle situation to identify if the timing is right for you.
Investing in property can be a great long-term investment, whether it’s for personal use or as a source of income. However, finding the right property investment in Melbourne that matches your financial goals is not easy. Given the wide range of options, choosing a property to invest in can be overwhelming.
Choosing the right property to buy is no easy task and can be overwhelming for first time buyers. Lack of real estate knowledge is one of the main reasons why home buyers opt to hire agents to assist them. They provide you with the information you need, to make an informed property purchasing decision. However finding a good agent is a challenge, given the number of buyer’s agents available.
Property investing may look easy but things aren’t always what they seem. Buying investment properties require a huge sum of money you simply can’t afford to waste and legal processes which may be too complex for you to deal with on your own. What can make things more confusing is that you may get conflicting advice.
If you have been considering buying a home, this question may have been one of the first to come to mind. While you can always choose to conduct the research, selection and purchasing on your own, it may not always be the best option. This is especially true if it’s your first time purchasing property.
Risk is the extent to which you are willing to expose yourself to loss. As individuals, when it comes to money, some of us may be more or less conservative than others. Risk profiles can range between conservative, cautious, prudent, assertive and aggressive.
The challenge with buying property in a rising market is to keep pace with the market and to and adjust your buying strategy accordingly, and if necessary, quickly. It’s not helped by the fact that in Victoria, when selling agents recommend the auction method to their vendors, the campaign inevitably starts off with either no disclosed price or bait pricing. This is where the campaign pricing starts low and then increases each week according to ‘buyer’ feedback.
I had a conversation with an acquaintance recently about her challenging financial position, and her strong desire to buy a home for herself on a limited budget. She was disheartened until I casually mentioned a concept for her to consider, which gave her hope for the future and inspired her re a positive outcome.
