Looking to buy a property?
We offer a complimentary investor advice service to all current and future clients of @home. We have the experience in our local market to give you educated advice to allow you to make smart choices from the very beginning of your investment journey.
Start your investment journey the right way
Buying an investment property can be daunting, and without good advice from the beginning, there are many risks that you may not consider. This is where we can help guide you.
Seeking independent and unbiased advice when buying an investment is important, remembering that the selling agent works for the vendor (the seller).
Property managers know what tenants are seeking and where the demand is. We will review the property based on location, demand, maintenance required and future costs to consider.
We will provide a realistic rental appraisal based on actual results to allow you to plan your income and expenditure carefully.
Property Investment Tips
Make sure it’s structurally sound.
Choose a property that is structurally sound and free from major defects. Look for low-maintenance homes that won’t require major upkeep and repairs. Always get a building inspection performed before signing a contract or as a condition.
Is it a high-demand location?
Look in safe areas with good street appeal (including the neighbouring properties). If you feel you would not like to live in the area, chances are quality tenants won’t like it either. Look for limited supply homes to ensure demand for your investment property remains strong.
Is the area well-serviced?
Check the local services, schools and amenities. Is the home within proximity to shopping centres, parks and sporting facilities? This will make the property more appealing to tenants or future potential buyers. Reputable schools nearby often indicate that the property will have strong tenancy demand.
Don’t overcapitalise.
Look for homes in the median price bracket, particularly for your first property. Being priced in the middle of the field will make it easier both to rent and to sell later on. A trap is to buy a 'renovator's delight'. Renovating can have hidden expenses like rewiring and plumbing. I advise adding around 15% to the estimate from your builder to cover any unexpected items. Spend your budget wisely on areas that will provide a return on investment.
Is there potential for development in the area?
Research the infrastructure in the area – are there adequate facilities? Check both existing and planned developments to support the needs of the community. In particular, consider schools, roads and public transport to and from the area.
Does it have good capital growth potential?
Research the history of capital growth in the area. Especially look for suburbs/areas with a strong history of capital growth over time. Many websites report on past sales history and trends.
Keep an eye on the rental market.
Research what is currently available for rent in the areas you are considering. What rental prices are they achieving? How long are properties vacant between tenants on average?
Consider what people need to be comfortable long term.
A good rule of thumb is to buy an investment property in which you would be comfortable. That doesn’t mean it will be a property you prefer to live in, and it doesn’t need to offer everything you would want personally. Start with the basics, like heating, energy efficiency, functionality, safety, cleanliness and practicality.
Don’t overcommit financially.
When you investigate what you can potentially borrow from the bank, be careful not to overcommit. Take into consideration change in circumstance. Your income may change, and interest rates can increase quickly, so you need to factor that in. Can you afford the repayments in the short to medium term if the property is vacant? Can you afford unexpected repairs, such as a new hot water cylinder? I recommend buying a property within your limit that allows you to cover up to 3 months’ rent as an absolute worst-case scenario.
Get an accurate rental estimate.
When you find a property you’re considering making an offer on, contact an experienced property manager to confirm the potential rent. The agent selling the home may not be as accurate as they don’t specialise in rental returns (not to mention the conflict of interest). Most property managers will provide you with this estimate at no cost, particularly if you want to manage the property with them.
Engage the best property manager you can find.
This could be the difference between a stress-free investment experience or your worst nightmare. If the investment is not effectively managed from start to finish, you will wish you had never invested in the property, and you will likely sell at a loss and never go back! The Residential Tenancy Act is complex and often weighted in favour of the tenant, which is why you need the best representation.
Get the right risk protection.
Researching insurance products can be very daunting. I would suggest talking to people who deal with this type of insurance daily, like your property manager, and asking them to point you in the right direction for the best options available.
Looking to buy a property?
Let us help you get started the right way. We will guide you through the early steps to ensure that you start your investment journey the right way.
Looking for a rental appraisal?
Ask the experts if you would like to know what your property will rent for in the current market. Our award-winning team will provide an independent appraisal and a detailed market report. We can also provide valuable advice on risk management to protect your investment.
What our clients say...
We have recently moved our rental property from an agent to @home Property Management and we only wish we had moved over sooner. We have received amazing service from Michelle, Louise, Robyn and Nikki, who have made the process so incredibly easy. Not only have they helped with locating trades but they have treated us like real people! Highly recommend making the move to experience real customer service!
Have had my house with @home for nearly three years and never had a problem. It’s great that I can just go on with my busy life and not worry about my tenants and ensuring they are paying rent etc. all the ladies have been great to deal with and I would recommend them for your property for sure!
I have recommended At home property management to friends many times. I specifically ask them to ask for Morgan Walker, who is my property manager. She is approachable, extremely diligent, has an eye for detail and is always forthcoming with communication.
We are absolutely thrilled with the fantastic service that we are receiving from Morgan and Michelle. Always kept in the loop and really happy with the care, attention to detail and diligence of the girls. We feel very safe in their hands. So happy to have a tenant going in next week!
I own a property that @home Property Management look after. Morgan and Casey do such a brilliant job! They have made what might have been a stressful experience very easy and stress free. @home has a wonderful team and everyone that works there is a delight to deal with. Thank you Morgan, Casey and the @home team!
Our experience with Morgan over the last couple of years has by far been the singularly best Property Manager we have had in the 9 years we have been renting. She has been very professional with how she goes about all aspects of managing properties but also balances the professionalism with a wonderful caring and personable nature. I wanted to pass this on because most of the time people only point out things that they aren’t happy with, but I find it impossible not to say something about how good Morgan is at what she does. You are very lucky and should be very proud to have such a valuable member on your team, we consider ourselves very lucky to have her as our property manager.
