Thursday, July 24, 2014
Buying a Unit for Investment
Real estate is one of the safest forms of investment, because you can touch and feel the asset you own. At the same time, however, there are some units that will re-sell or be tenanted faster than others. In a survey by Matusik Property Insights potential buyers were queried as to their preferences. The object of the survey was to find out what unit design sells best. To begin with, people surveyed baulked at buying the traditional studio and one-bedroom apartment if the kitchen was under-sized. So an investor should either look to upgrade an existing unit’s kitchen or find one already suitable. Not only larger kitchens were desired in one and two bedroom units, but also larger living rooms. Dimensions mentioned were 6.5 metres to 8.5 metres. Potential tenants also favoured balconies and lots of natural light. The latter can make a variance in price even within the same apartment block. Of course, location is always high on the list. Ready transportation is a big plus as well as a secure garage. Another interesting factor was that the higher the rent, the more amenities were expected by tenants and buyers. Items like spaciousness, more bathrooms, good views and built-in fittings were expected. To be on the safe side, it’s always best to buy something you yourself would live in. Take advantage of our extensive experience in rental units by phoning me, Noel Thompson, on 3809 4495 or 0418 517 525, or stopping by our offices at Westpoint Shopping Centre Browns Plains Road, Browns Plains for friendly assistance.