BENEFITS OF PROPERTY INVESTMENT CAN INCLUDE:
- Property represents a very secure and sound, long term form of wealth creation.
- Property is a solid long term investment.
- Property investment provides capital growth.
- Property market information is easily accessible and widely available.
- Property is tangible – you can actually see and drive past your investment.
- A well chosen property may provide a good steady return on investment and, over time, increase both in rental potential and property value.
THINGS TO CONSIDER WHEN CHOOSING AN INVESTMENT PROPERTY:
The two most important criteria when choosing an investment property are location and quality.
- A property located close to transport, schools, places of work, shops and recreational facilities will be in greater demand and usually command a higher rental.
- By maintaining your asset in good repair and ensuring it is well presented, you will maximise rent, reduce vacancy and attract a high standard of tenant. Vacant properties cost you money and are a security risk.
WHAT COSTS WILL I HAVE TO MEET?
As you would expect, there are various costs associated with property investment in addition to the costs of maintenance. When you acquire a property, there are government charges for example registration fees on the transfer of title and mortgage. There are also solicitors’ fees. In addition, there are real estate agents’ fees for managing your property and selling it if you decide to do so in due course. Your real estate agent can assist you in the calculation of these costs.
Making sure you have the right real estate company managing your investment is vitally important. First National Real Estate can save you time and take the hard work out of owning an investment property.