LISTEN UP!! Peter Koulizos is a lecturer and author of The Property Professor’s Top Australian Suburbs (John Wiley & Sons) with some tips on buying properties in a low priced suburbs.
3 HOT TIPS:
(1) Why is it cheap, ask yourself?! It is because of poor condition BUT in a good location adn is structurally sound? Then yes, go ahead, it's easy to dress it up abit and add value to become an improved conditioned house.
(2) Remember you can't change the location of the property.. think hard and carefully.
LOCATION! LOCATION! LOCATION!
(3) Base your decisions on the following 3 reasons:
- High land component = best capital growth
- Properties
in lower price brackets = Greater potential for an increase in value.
Remember though, there is a limit to how much property will sell for in a
low priced suburb
- Families seeking rental properties are often seeking houses over units in the outer suburbs. Therefore, tenant demand can result in higher rent!! :D
For more tips :
www.thepropertyprofessor.com.au
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