Become An Investor: Buy An Apartment

If you are looking at investment loans to help you enter the market as an investor, you may want to consider the benefits of purchasing an apartment.

Apartments can be a less costly way of buying a first investment property – they are often cheaper than houses, smaller and require less work to maintain and furnish.

In addition, tenant demand can be high, especially in inner city areas where centrally located apartments benefit from proximity to educational institutions, employment opportunities, amenities and public transport.

When selecting an apartment it is important to consider location, size, window views, the relative standing of the neighbourhood and to whom it would be desirable. You may want to attract a certain demographic – students or young professionals, for example.

Think about things that will make it even more attractive to future tenants – an apartment which comes with a carpark and can be reached by a lift is a much easier sell than one where tenants have to pay for parking elsewhere and climb the stairs.

Also find out about the building which houses the apartment and about the owners and any issues which may have occurred in the past – weatherproofing, for instance – and which could recur.

With careful deliberation, purchasing an apartment can be a great start to your investment portfolio.

To get more detailed information on your situation, talk to a Loan Market mortgage broker today.

Tags: ,

Follow Us

Trending Content