House Research Is The ‘Holy Grail’ Of Real Estate
by admin on Jan.23, 2011, under Main Articles
When looking to buy a house, take the time to do your house research.
The available resources are limitless to the property buyer and investor. Here are just some of the resources we use:
1: The Residex ‘Top 100 Postcode Predictions’ and/or the ‘Best Rent Report’ (preferably both). We’ve found these reports to be extremely valuable investments and quite accurate.
Use these reports to help establish the median (middle) price for properties in that post code and buy at, near or under the median price. Be aware that you need to conduct your own research into specific areas – don’t just rely on Residex (or any other) Reports.
2: Subscribe to Australian Property Investor Magazine AND Your Investment Property Magazine. In both our business and personal investing lives, these magazines are mandatory reading.
3: Terry Ryder’s Hotspotting Reports – Terry is a well credentialed and respected property investor and researcher. Terry’s reports are extremely well researched and have significant credibility in the market place.
4. You need to get out on the road and visit any location in which you’re interested, drive around to get a feel for the area and watch how quickly ‘For Sale’ signs go up and come down. Contact a number of real estate agents in the area to confirm that the asking price is around the median (middle) price range and check the median price for the area on your Residex report.
5: Notice how close the property is to amenities such as schools (families are reluctant to up-root their children), transport, shops, jobs, café’s, universities, hospitals, etc.
6: Look for infrastructure development. Where government is developing or proposing to develop roads, parks, schools, shopping centres, etc., this usually provides a strong indication that people will move into the area which results in increased demand for property.
As a Buyers Agent, we understand that there are also many other valuable sources of research available…no doubt you will find your favourites as you continue investing.
“Research is cheap if you want to stay in business, expensive if you don’t” Anon