Purchasing a home or unit as an investment is often one of the biggest challenges you will face in life, outside of the purchase of your own home. We all know what we like and do not like and because of this it is really easy to buy a home that you like but quite often what you like in a home does not translate to the likes of potential tenants. There are five key things to consider when choosing where to purchase your investment property and what Estate Development you should choose.
Key Issue 1: Choose an Estate Development with Lots of Parks Close By
Nobody wants to live in a concrete jungle. Even in large unit developments today, you will notice that developers spend an enormous amount of money ensuring they build a complex that contains at least one large area that residents can use like a park, so why would you want to buy a home in an estate that has no parks.
If you look at the majority of people who want to live in rental properties, they are one of two types of people, they either have children or are grandparents with grandchildren. Having a park close to your investment home will ensure that people will want to rent it because they know they will be able to let the children play in the park with some level on safety.
In many estate developments in Australia, the developers are ensuring that all homes are within viewing distance of a park. This means you as a parent can be working at home but still able to see you children. This will give a potential tenant with children a certain level of comfort.