What Perth Property Investors should know about when to buy a property.
It’s no secret that the market for investment properties in Perth is very hot right now, especially in the outer suburbs. If a property is priced well, there is less room for negotiation because of high buyer demand. Even though many economists are predicting a “return to more stable conditions,” we will probably have at least another 6 months of these conditions in Perth.
This gives investors two choices: you can allow your portfolio to stagnate while waiting for the market to go down or you can come up with a new strategy for navigating the market. We recommend the latter choice.
Finding a “Fair Price”
The most crucial factor for any property investor who wants to buy in a “seller’s market” is to do your homework. Even if you have a great finance broker and a great real estate agent on your side, it is imperative that you know the Perth real estate market like the back of your hand.
If you become one of our clients at Investors Edge, we will work out a plan that involves getting very clear on your strategy and where you should buy. Once you have identified these two important factors, it is a simple matter of knowing what “comparable” property is selling for by keeping a close eye on the market.
If planning to add value to the property with subdivision or development, you can then work backwards to ensure that you build in your profit margin and don’t over pay.
Then, the choice to buy or walk away is simply a matter of mathematics.
Are You Ready Yet?
If you are ready, call Investors Edge. Let’s work together on a plan for your investment portfolio. Call 1300 472 427 today.
