Turning a Home Into an Investment

Turning a Home Into an Investment

Turning your home into an investment

As life inevitably changes, a property may need to fulfil a variety of purposes. Evolving circumstances, like a new relationship, a baby or a job transfer can cause buyers to re-evaluate a purchase.

Therefore it may be ideal to buy a primary residence that can be rented out and converted into an investment.

An investment property that has a strong rental yield is always underpinned by the qualities that made it a desirable owner-occupied home in the first place, according to agents.

Swimming pools and verdant gardens, as well as decorative exterior finishes, can marginally boost the rental value, but at the same time add enormously to the cost of upkeep, he said.

Turning a Home Into an Investment

The combination of capital growth and solid rental return is the Holy Grail of acquiring a home that will later be a rental investment

A position near schools, shops, doctor surgeries and public transport, as well as a property that is easy to maintain, is a recipe for a good rental return.

But perhaps the most important factor – and the least known – is that two bedrooms, no more, no less, will attract the right sort of renter. It’s the real estate baby bear equivalent in the Goldilocks story – two bedrooms are just right.

Three bedrooms often attract groups of young singles and one beders are limiting in their appeal.

However, two bedrooms will attract young professionals and couples who require room for a study or are planning to have a baby, and therefore tend to be long-term renters who look after the property.

Story source: www.domain.com.au

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