With headlines screaming that Australia’s two biggest residential markets, Sydney and Melbourne, are going through a cyclical decline, is now the right time to buy?
You can still make a profit, but you have to be very strategic about the property you buy and how much you spend on the renovation, and accurately forecast the price you’re likely to get.
Carrying out the right research before purchasing an investment property could mean the difference between making a loss and creating wealth. However, property research isn’t always as straightforward as it seems. Here are some mistakes you should avoid as a property investor.
Trying to sell an investment property while it’s rented? Don’t be surprised if your tenant asks to leave when they find out that you want to sell.
Erin and her husband own an investment property in Perth which is now worth less than they paid for it eight years ago. With rents falling, they ask Paul Clitheroe if it’s time to cut their losses and sell.
Property prices may be struggling in most capital cities but longer-term investors needn’t despair – there are plenty of “cash cow” suburbs that still deliver decent returns.
Labor promised to overhaul negative gearing if elected, but the potential for more downward pressure on house prices will be of significant concern to homeowners.
Many baby boomers who downsize into apartments are struggling to cope with noisy neighbours and dictatorial owners corporations running their own agendas, not to mention surprise special levies.