Creating an investment plan is an important aspect of developing a portfolio and can help streamline your real estate success, getting you closer to your financial and property goals. If you're interested in buying houses to rent in Bunbury, here are some concepts to think about before committing.
Location is arguably the most important factor to concern yourself when you're looking to buy investment property. Tenants often look for a home that suits their needs, so providing them with easy access to the regular amenities they want and need is a great place to start.
Public transport, local schools, grocery stores, and outdoor spaces like parks are just some of the things people love to have close by to their homes. Taking this to heart will help you build a strong, profitable portfolio and achieve real estate success.
Furthermore, knowing how much you're able to borrow towards your property goals can help narrow down your search and speed up the process. Usually, lenders expect a 20 per cent deposit on any mortgage products and according to realestate.com.au, the median property price in Bunbury was recorded at $500,000 for houses.
This works out to an average deposit of $100,000 – giving you a saving goal to work towards before pursuing your own investment real estate in the region.