Articles

If you often read property investment articles or watch the media, you will hear the term “Property Hotspot” often used to describe a region or little known property market about to ‘boom’.

It can sound exciting to make quick money with property, and the description of the opportunity is designed to stimulate investors to rush in and buy, before prices take off and the opportunity is lost.

New laws in NSW have come into effect from January 1st 2016, in an attempt to prevent selling agents from price underquoting. This practice has been blamed for causing many consumers much disappointment, when the house of their dreams sells for far more than they hoped it would.

There are traditionally certain times of the year when property open for inspections are teeming with buyers, when everyone seems to be in a positive buying mood, and securing your ideal property at a reasonable price seems totally out of reach.

Early spring is one of these times, when buyers seem to come out of winter hibernation, and properties flood with natural light, and gardens come into bloom.

One of the common questions clients ask when seeking property investment advice is, ‘Should I buy a house or an apartment?’

Many novice investors are under the impression that houses make a better investment because they’ve read or heard that the land component of property increases in value, while the building depreciates over time.

Hence, they make the assumption that more land equals more bang for buck.

But that’s only half the picture, and a dated concept.

Let me explain – firstly not all land is created equal and it’s a misguided notion that it’s the size of the land that matters. What’s more important is the location and scarcity.

So where should I buy?

This is the first question you should ask yourself, before you even start to think about what type of property would be the most beneficial for your portfolio.
It’s an old cliché but ‘location is key’, it always has been and always will be. There are smart pieces of technology that you can use to help determine the walkability of a location. Walkability is the new buzzword in property circles, with many looking for locations that offer all the necessary leisure, shopping and work opportunities right on your doorstep.