Buying Tips for Houses and Apartments
Making a property purchase is a big decision and often one of the largest financial transactions you will make in your lifetime. Therefore it pays to avoid costly mistakes! I have compiled a list of short tips and general advice for your next property search. As mentioned in my previous blog post, houses are generally my preferred investment option in Brisbane at this time, however this is not always the case and apartments can make for good quality investments at the right time or in the right location. Tips for purchasing an apartment (in any location): - AVOID large blocks - In large towers of 100+ apartments, there will always be 5-10 other apartments for sale and rent at the same time as yours so the competition is fierce and you will have no point of differentiation > not a good recipe for capital growth! - AVOID brand new/off-the plan purchases. You are often paying a hefty developer premium and often a referral fee which is built into the purchase price...