Property Investment

Melbourne Buyers Agent – Things to Consider When Buying a House For Tax Efficient Investment

Buying a property can be a very exciting time for all involved, but as enjoyable as the viewing process can be; it’s never a good idea to jump in too soon, only to find the home unsuitable when it comes to moving in. From putting in an offer, all the way to signing on the dotted line – it can be far more beneficial to take a little extra time to identify whether or not the property is suitable for purpose.

Here are a few key points to consider to simplify the buying process.

The suitability of the home

Once a house is bought, the new owner will be responsible for meeting repayments from that point onward. There’s nothing worse than buying a property, only to find it unsuitable in the grand scheme of things – especially if you’ll be expected to pay back what you borrowed on a home that you no longer appreciate. To avoid this, it’s a great idea to plan your intentions ahead of time. If you have a family with several children, then a one bedroom house won’t be sufficient. Likewise if you live alone, then it won’t make much sense to opt for a huge property with wasted space.

The asking price

It’s no secret that previous owners hoping to sell their properties will add a little extra to their asking price. This is accepted throughout Australia, but there’s really no reason to agree to this cost immediately. Before putting in an offer, consider the features within the property. Are they worth the value? Do certain elements detract from the overall price? Negotiation is key and could save a new home buyer thousands of dollars.

Location and neighbourhood

These two key points should be a top priority, as the location can play a role in the value of the property – as well as the lifestyle that its new owners should expect. If you love the hustle and bustle of city life, then it makes more sense to purchase a home close to the city – where travel is easy and neighbours are common. For those that prefer quieter regions with fewer neighbours; somewhere in the country or a little more remote may be better suited.

Access to amenities

Shops, schools and other common facilities are all very important aspects to think about. For families with children, it won’t make much sense to live miles away from the nearest school, nor will it be logical to have to travel hours to the nearest shop. Being closer to amenities does have its bonuses, but it can be much busier than sparsely populated locations. It all depends on what you want and how far you are willing to drive to get around.

These are just a few things to think about when buying a house in Australia. For more advice, it’s worth getting in touch with an estate agent or representative such as CohenHandler in Melbourne.