Gillmore Property | Property company

Gillmore Property

Phone: +61 487 711 869

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11.01.2022 common mistakes real estate investors make. Buying in the wrong location Location, location, location.... It’s what we’re often told buying property is all about and it’s particularly true when it comes to investing, That’s why getting the location wrong is the number one mistake we see investors make. When the market is booming, prospective investors will buy anything for fear of missing out a house on a main road, a front of building apartment close to noise, something not near transport or directly under a flight path These properties are easy to sell when a market is booming. But as soon as the market drops, they become much harder to sell. You can see a 20 per cent loss on them. The problem of location manifests itself in other ways too. Premium, blue-chip areas with good infrastructure and amenities usually cost more. So, property investors on a budget often take their first step into the investment game by buying in less desirable or far flung locations. When the market is booming, prospective investors will buy anything for fear of missing out We also see investors buy into newer development where there are lots of units, with not much infrastructure and a long commute to city with bad transport. Or, spurred on by glossy marketing material they buy house and land packages. They chase the high yield properties and ones that give tax depreciation returns, but after about 10 years they don’t get any capital growth. In the worst cases, seeing investors fail to get their deposit back due to a lack of price gains. And often this is not even offset by high yields. The reality is that properties in the middle of nowhere are harder to rent out too. That said, some investors can’t afford negatively geared properties in blue chip areas within 10-15 km of a CBD and will need to go regional or choose a high yield property. Buying in the best location you can afford should always be your number one consideration.

08.01.2022 54 Kapang Drive, Cable Beach, WA 6726 https://www.realestate.com.au/property-house-wa-cable+beach

07.01.2022 https://www.realestate.com.au/property-house-wa-cable+beach

02.01.2022 54 Kapang Drive, Cable Beach, WA 6726 https://www.realestate.com.au/property-house-wa-cable+beach SOLD

01.01.2022 https://www.realestate.com.au//4-shelduck-way-djugun-wa-67