Buying an investment property comes with a lot of questions, and rightly so.<\/strong><\/p>\n Where should you buy? What kind of property should it be?<\/p>\n But there are some things every investment property needs if it\u2019s going to achieve the capital value growth that you want it to.<\/p>\n These are your must-haves.<\/p>\n We\u2019ve all seen the reports about single car spaces in prime Sydney locales fetching hundreds of thousands of dollars.<\/p>\n There\u2019s a reason for it: every year there are more potential residents and an ever-decreasing amount of space in which to park in our capital cities.<\/p>\n Buyers will want a property that comes with a parking space. Picture: Getty<\/p>\n<\/div>\n Wakelin Property Advisory associate director Jarrod McCabe says it\u2019s not enough for your property to have access to a general parking area \u2013 the car space must be assigned specifically to your property.<\/p>\n \u201cIt must have a car space and it needs to be an allocated car space,\u201d he says.<\/p>\n The equation for capital growth in investment properties is simple: if there\u2019s a lot of people who want a particular type of property but there\u2019s not many of those properties available, you\u2019ve got a recipe for success.<\/p>\n McCabe says investment-grade properties must have a level of scarcity that means they\u2019ll always be in demand.<\/p>\n \u201cSomething that\u2019s got some scarcity value to it and not something that\u2019s been replicated time and time again, with more and more of the same things being built,\u201d he says.<\/p>\n \u201cThat doesn\u2019t necessarily mean that it\u2019s an unusual property. Scarce properties are quite often fairly conventional, but it\u2019s something that is in limited supply in the marketplace and there are more buyers around for that type of property.\u201d<\/p>\n \u201cIn the apartment market it\u2019s more of your older style, one or two-bedroom properties, something generally constructed between the 1930s and 1970s in a boutique-type block. Nothing with a pool or a lift or a gym or anything like that in it, so it keeps your owners\u2019 corporation fees down.\u201d<\/p>\n In the apartment market, art deco apartments will always be in demand. Picture: realestate.com.au\/buy<\/p>\n<\/div>\n Buying a property in the best possible suburb, or in a suburb that you believe is about to boom, is something of a no-brainer.<\/p>\n But look harder within those suburbs and you\u2019ll discover that some pockets or streets are much better for investment than others.<\/p>\n \u201cBeing in a blue chip suburb is really important, but not just being in any part of that suburb. You then look for a good street, and that\u2019s not just in terms of its geographical location but also its consistency. The architectural style of the properties within that street are really important to take into account.\u201d<\/p>\n McCabe suggests looking at the other properties in the street for things that could potentially affect price. If zoning will allow a large development to be built next door, that will affect your property\u2019s potential growth.<\/p>\n \u201cWhat are the surrounding uses? Are there any uses for a specific property nearby that might impact on your property\u2019s livability? That could certainly impact on desirability,\u201d he says.<\/p>\n While you can always add value to a property by renovating or upgrading certain parts of it, McCabe says it\u2019s important that you select a property that possesses all the right underlying attributes.<\/p>\n \u201cThe important thing to take into account when you\u2019re buying a property is to get the things about that property right that you cannot change, for example the position within the street and the position within a block.\u201d<\/p>\n McCabe says a good layout or floor plan will appeal to more renters and more buyers when it comes time to sell, so pinpoint those features that will appeal to the greatest number of demographics and potential buyers, and you\u2019ll be onto a winner.<\/p>\n
\n <\/p><\/div>\n Realestate au <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"An allocated car park<\/h2>\n
![\"carpark\"](\"https:\/\/i0.wp.com\/www.realestate.com.au\/blog\/wp-content\/uploads\/2017\/10\/25004614\/carpark_2000x1500.jpg?resize=2000%2C1500&ssl=1\")
<\/p>\nA level of scarcity<\/h2>\n
![\"41\/97-99](\"https:\/\/i0.wp.com\/www.realestate.com.au\/blog\/wp-content\/uploads\/2017\/05\/11121757\/capi_89d7f61f79ef51df09d25cfeb38ce0b9_bc111ad0398f804f7ac8ad5079003ccb.jpeg?resize=1023%2C768&ssl=1\")
<\/p>\nLocation, location<\/h2>\n
Nail the things that can\u2019t be changed<\/h2>\n