Good Property Investment Features
“How do I determine what is a good deal and what is a bad deal, when the properties are so similar and carry the same price tag?”
If they are similar and both have the same price tag, there is probably very little in it. The assumption here is that the position and the maintenace factor is also equal. If the position of each property is not the same, then you would choose the better positoned one.
But even if the locality is the same, what you would look for then would be reselling benefits:
- is it facing north?
- is the overall layout better than the other property?
- is the layout of the house better?
- is there a better yard?
- is the layout of the yard more user-friendly?
- is there more storage?
- is the garaging better, or
- the access better?
This will give you an idea of things to consider if you are trying to compare one property with another.
By using an independent valuer you may be able to ascertain information about one of the properties that will make your decision easier. Then again, you may want to start the bargaining process and see if one vender is more negotiable than the other.
If this is going to be an investment property and held for quite some time, the price should really be the determining factor, rather than the previous selling points of layout, etc. After all, it will be the return on investment that is important.
Filed Under: Property Investment Tips
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