Top Tips For Buying Property

 

We introduce you to Craig Hogg who is the director of the Edge Property Buyers who provides valuable insights into buying property.

 

Research Will Save You Thousands!
As Buyers Agents we are continually researching locations and properties for our clients.

These days there are many ways for investors to undertake research, and sometimes it can be incredibly overwhelming. You need to look at both the suburb and the types of properties in the suburb, supply and demand, existing and planned infrastructure, demographics, migration and unemployment.

Here are some tips to help reduce your risk and increase your chance of sourcing a quality investment property.

Data, Data and More Data
Today’s technology allows investors to have so much property data at their fingertips. So jump online and have a look at what’s out there. Websites such as CoreLogic, APM, Residex, SQM Research, onthehouse.com.au and as well as the major portals like Domain.com.au and Realestate.com.au all have free and paid data.

Many have suburb profiles or reports detailing median prices, vacancy rates, days on the market, and supply and demand. The Australian Bureau of Statistics (ABS) is another useful data source. It’s also helpful to look at economic data, such as employment and finance approvals.

Sometimes It can also be as simple as googling the street, suburb, as well as local council websites, can also provide a plethora of information on the planning of the area.

Feet On The Street
Familiarise yourself with the area you are looking to invest. Use Google Maps and Streetview, but do understand that it’s not the same as feet on the ground to understand the sights, sounds and smells of a location.

Drive around the suburb to orientate yourself and find out how accessible the area is, how easy it is to get around, where the shops and infrastructure is, best parts of the suburb are. Chat with local business owners, residents and local agents to gain a better understanding of the area. Also, drop by the local police station as they can give you an idea of the areas where they spend most of their time.

You should keep an eye on real estate listings too, and attend lots of inspections in the area you’re looking at before actually buying a property.

What We Look For:
● Increased population growth forecasts
● Planned or current infrastructure spending by governments
● Proximity to employment
● Proximity, e.g. shopping centres, beaches, medical facilities.
● Access to public transport
● Gentrification of surrounding suburbs
● Affordability and yield

All of these things make the area attractive to both buyers and renters, driving up prices and rents, as long as demand is more significant than supply.

With this in mind, we are currently actively researching and acquiring investment properties outside the Sydney area, in Newcastle NSW, Brisbane and the Sunshine Coast QLD.

All these area’s offer much more affordable options compared to the other South Eastern Capitals and they are currently seeing investment in infrastructure, unemployment trending down, increased population growth.

Special Offer
If you would like to have a more in-depth discussion about property research and to discuss investing in these locations, The Edge Property Buyers are happy to offer The Local Agency Co clients offer an Obligation Free 30 minute phone meeting, Zoom meeting. Simply schedule a time via this LINK . Should you engage our services and mention The Local Agency Co., we will also provide a Tax Depreciation Report from Washington Brown for the property at no charge. (Valued up to $770 Inc GST, Valid until 31/12/2018)

Craig Hogg is managing Director of the Edge Property Buyers, specialising in residential property investment. He is a licensed real estate and buyers agent In NSW and has 15 years experience working with property investors. The Edge Property Buyers are proud members of REINSW, REIQ, REBAA and PIPA