House and land packages have increasingly become popular over time among investors across Australia. But with so many deals currently offered by the different developers, it’s very vital that anyone seeking to buy a home should be very careful. In Western Australia, for example, the region is experiencing a new property boom proven by the latest data from the WA housing forecasting group that recorded 28966 new homes having been built from June 2013 to 2014. There has been noted a 20% improvement in new home construction compared to the previous 12 months. With such a high number of constructions, anyone intending to invest in a property in any part of Australia should be very critical about the location. This article takes a look at some of the very important issues that should be kept in consideration when looking to purchase house & land deals.
The location of the rental property is very crucial in determining whether it’s going to attract tenants or not. A wrong location will often put off tenants. When you choose a place that is flooded with like-minded investors, you risk having to put low rent because chances are when you finish building, then there may be many other homes that are finished as well. Thus the market will be flooded and therefore the only way to have customers is by reducing your house land packages west Sydney prices which may affect your income. The location will as well determine the long term capital growth of the block. When the location is close to an ocean or major urban center and utilities, then with limited land, it’s highly likely that the capital growth potential will be higher.
When investing in house & land properties, the most important thing that an investor ought to look at is the appreciation value of their house and land packages Sydney wide. When it comes to the home, the value of the actual home structure should be able to depreciate. Therefore, it’s very pertinent that buyers look for a property that offers the greatest potential for capital growth. When putting into consideration the long-term capital growth potential of a building block, then it’s wise that the investors consider the scarcity factor of the block as well. A block that is located at a good position will appreciate in value too.
Quality and size
At the end of the day, tenants will be attracted to quality home designs. Buyers of homes today prefer living in estates that are master planned with very high quality with impressive facilities, offering security and great sense of well being. Therefore, this means that investors will need to invest very well on the quality of home that they are intending to put up. The size is important as well because today the sizes of blocks are continually getting smaller and it’s important that an investor is able to determine the value in similar developments.
With the above guide, you can make a good house & land investment decision. For more, visit http://edenbraehomes.com.au