For some people, the thought of paying a professional a fee scares them. They think they can complete the service themselves and save some dollars and feel confident in their choice.Unfortunately, the reality is quite the opposite.When purchasers decide they want to get into property investment or add to their property portfolio, the first thing that needs to be undertaken is research. This is a timely and costly exercise
Time: Research will [mostly] have to be completed on your own time, outside of work hours –or rushed through your lunch hour. Here’s your first sacrifice –relaxation time, spending time with your family or socialising
Knowledge: Researching where to invest is like finding a needle in a haystack. Where do you start?You may think local, making it easier for you –but this strategy does not include areas with the best potential for increased capital returns. This closed vision could cost you a lot of money down the road.
But how will you ever know? How do you know where the best locations in ‘Australia are for increased capital growth. Can you research all areas, or only those you like?
When researching for areas to invest in, it’s important to consider every possible opportunity in Australia. It could be the difference between success or failure.
Home design can heavily influence the value of your return.Do you know which elements of house design provide higher rental returns? What extras should be included in an investment property and which extras will simply burn a pocket in your hole?
Cost: Even if your research identifies an area that’s not close to home, you must visit this area to gain a thorough understanding. It’s important that you understand what is the local infrastructure like.What are the demographics? Rental properties? The list of research goes on. Visiting for just one day will not enable you to evaluate the area under differing conditions. To gain a full understanding, professional researchers spend a number of days in potential investment areas. This helps them see how infrastructure copes with peak work periods, weekend leisure activities and understand the demographics of the area.
Suddenly, going it alone not only reduces your level of confidence of identifying Australia’s best location to invest, but your costs quickly add up and hours of your time are zapped. Realistically, paying a professional is a cheaper option with potential for ongoing, higher returns that continue to offset any initial fee.
So for anyone [ie: you or someone you know] who is considering creating your own research to save a few bucks, consider the time, knowledge and costs required to undertake effective research. You’ll soon find that paying the professionals at Property friends will be a more cost-effective solution. You’ll feel more comfortable with your decision, especially when you’re presented with detailed data and results that over the last 10 years, have proven to provide capital gains and rental returns above the national average.
Property Friends is a specialist Property Investment Advocacy that has been operating for the last 13 years on the basis of 3 principles: Trust, Community & Progress. www.propertyfriends.com.au (03) 9758 5331
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