When considering purchasing an investment property in a neighbourhood, it’s essential to highlight the significance of thoroughly researching and evaluating the location before making a purchase. While understanding property cycles and market trends is crucial, assessing the neighbourhood areas is equally important.
Investors who conduct due diligence and evaluate the location are vital in finding a profitable investment property. Location is one of the most significant factors that affect ROI over time. Properties located in thriving and strategic areas tend to offer significant increases in ROI, making the phrase “location, location, location” a key mantra that many agents and buyers consider.
Proximity to transportation
Proximity to transportation is a critical factor to consider when researching a neighbourhood for an investment property. Properties located within a five to ten-minute walk of a major transportation hub are highly desirable. Additionally, neighbourhoods with well-respected schools in the area tend to attract families and are a smart investment. If you are unsure of the quality of schools in the area, information can be easily researched through the Internet or by speaking with locals.
Lastly, properties located in areas with planned major developments, such as new parks, buildings, or community centres, can significantly increase the value of an investment property. Neighbourhoods experiencing gentrification tend to grow fast, offering higher returns.
At MGM Martin, we have an extensive portfolio of properties available in Sydney’s most desirable and upcoming suburbs. Furthermore, our team can assist you in finding and securing tenants, ensuring a longstanding relationship and a healthy passive income stream.
Contact Us Today or see our list of properties available here