Amateur property investors generally rank location as one of their highest priorities when scouting investment properties. While the destination may be exquisite, sometimes the property itself may need additional work such as refurbishments or even a complete renovation before it will be suitable for the market. This is just one of the reasons why you should consider location carefully, and think a little more holistically in terms of the other important aspects that you should consider when investigating potential investment properties. As a specialist in providing advice and assistance with investment loans in Melbourne, Hunter Lending Group is here to help. We have even provided a couple of pointers on what to look out for when adding to your investment portfolio.
Before committing to purchasing terms, get to know the suburb, the community, and the neighbourhood—during the day and during the evening. Is this location suitable for a family, retirees, or partygoers? The reputation of the area can influence the demographic of people who are likely to lease or purchase a home.
If you are trying to determine how family-friendly the place is, are there signs of other children playing nearby (i.e. parks, trampolines, bicycles, basketball courts, etc.)? Ideally, you want to determine who your ideal tenants are and work within that framework to find an investment property that will serve your interests and long-term goals.
At Hunter Lending Group, we have years of experience across a diverse selection of clients with all sorts of investment loans throughout Melbourne. Our mortgage brokers can assist you in your search for an investment property that will satisfy your financial requirements. For more information, contact us.
While the area may seem very appropriate now, things often change from new property developments to residential and industrial rezoning. If, for instance, a commercial zone is to be acquired by the local council and repurposed for a new school, childcare facilities, and apartments, that could have drastic consequences for someone attempting to establish a shopfront in a place that is likely to change dramatically in the span of three years. Not all financial specialists will go to the effort to investigate at this level of detail, which is why you should defer to Hunter Lending Group for your investment loans in Melbourne for peace-of-mind.
If you have plans to supplement your income stream through leasing, it is generally recommended that you find a property near public transport and essential services. Again, it depends on your long-term goals and what you are looking for in your investment. The mortgage brokers at Hunter Lending Group can provide more information upon request regarding the importance of infrastructure and how it can affect your investment loans in Melbourne.
Investment loans in Melbourne are easy with the team at Hunter Lending Group. Call (03) 9497 4917 today.