This is a question that is commonly asked by our clients and one that has very different answers depending on whether you’re buying a home or investment property.
The one common denominator is that it’s all about your goals.
What are you aiming to achieve by buying a property?
* Getting onto the property ladder
* Creating wealth
* Securing a home for you and your (future) family
* Reducing your tax burden
* Setting yourself up for your future
If you’re buying a home, the location and the property type need to match your lifestyle now and for the next few years. If you’re young and single, you might be looking for an inner city apartment that is close to work and nightlife. If you’re looking to settle down, you might be happier a little further from the CBD in a small house.
If you’re buying an investment property, the two things you need are rental demand and capital growth and you’re going to have to do your research to find your best options for those two things. But make sure you spread your search wide. You might need to look further afield than your local neighbourhood.
Make sure your decision is based on your goals and research – not just emotions. Whilst we may fall in love with a particular property, it’s good to make sure we put some logic around that emotion.
Do you make decisions with your heart or head or a combination of both?
