Investing in property for the first time is an extremely daunting task

Investing in property for the first time is an extremely daunting task, especially when doing it with all cluttered information spreaded across #socialmedia. One has to make sure that all kinds of information is attained before closing a deal.?

This is also a great way to attain #financialfreedom !

If you are a first time investor in the world of real estate, then here’s a list of things that you should keep in mind for better ROI.?

Here are a list of things to keep in mind when investing in a property in #australia :

• Do your research. Before you buy any property, it is important to do your research and understand the market. This includes understanding the different suburbs, the current trends, and the potential for future growth.
• Invest in the right areas. Not all suburbs in Australia are created equal. Some #suburbs are more desirable than others, and this will affect the value of your property. When choosing a suburb to invest in, consider factors such as proximity to the city, #amenities, and transport links.
• Consider your investment goals. Are you investing for #capitalgrowth, rental income, or both? Your investment goals will help you determine which type of property is right for you.
• Consider your budget. How much money do you have to invest? It is important to set a budget and stick to it.
• Factor in the costs. There are a number of hidden costs associated with property investment, such as stamp duty, legal fees, and ongoing maintenance. Make sure you factor these costs into your budget.
• Get professional advice. If you are not familiar with the property market, it is a good idea to get professional advice from a qualified property investment advisor. They can help you make the right decisions for your individual circumstances and goals.

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Here are some statistics to keep in mind when investing in property in Australia:

• Average #Houseprices in Australia averaged 657.65k AUD from 2011 until 2023, reaching an all time high of 930.60k AUD in the first quarter of 2022 and a record low of 486.30k AUD in the third quarter of 2012.
• This trend is shifting as rents are now rising faster than property prices, which is causing an increase in gross rental yields from their previous record lows. The latest figures show that as of March 2023, the national gross #rentalyield is 4%, up from 3.9% a year ago and above the low of 3.8% recorded in mid-2022.
• The population of Australia is expected to grow by 2 million people over the next 20 years.
• The economy of Australia is the largest in Oceania, and is expected to continue to grow in the coming years.

These are just a few things to keep in mind when you plan to invest in property in Australia. By doing your research and understanding the market, you can increase your chances of success.?

If confused, then the best buyers agents in Sydney Ash Buyers Agency can direct you in the best way!

Here are some additional tips for investing in property in Australia:

• Consider the long term. Property investment is a #longterm game. Don't expect to get rich quick.
• Be patient. The property market is cyclical. There will be times when prices go down. Don't panic and #sell.
• Don't overstretch yourself. Don't borrow more money than you can afford to repay.
• Diversify your portfolio. Don't put all your eggs in one basket. Invest in different properties in different locations.
• Stay up-to-date on the market. Keep an eye on the latest trends and changes in the market.

By following these tips, you can increase your chances of success in property investment.

So now what? Next steps from here:?

Are you aspiring to build a significant and sustainable balanced portfolio without being sold on dreams or compromising your lifestyle? Feel free to get in touch with me, I have built my $4.2m balanced portfolio with average income within the span of 4 years and if you aspire to own something similar, email us at?[email protected]?or book an appointment?here.

Disclaimer: This article is general in nature and does not take into account your personal situation. It would be best if you considered whether the information is appropriate to your needs, and where applicable, seek professional advice from a financial adviser.