At the moment there are far fewer buyers within the housing market place with many more properties becoming available for sale; properties are taking a tediously long time to sell and prices are dropping quicker than ever before in an attempt to encourage a sale.
This is not the first time we have been in this situation and as cycles continue, it certainly won't be the last time we're in this position. So if you have the money to invest, now is the time to grab a bargain. Don't wait until the boom begins once again where you can find yourself priced out of the market before you know it.
Don't be put off by the current state of the market if you are looking for an investment property; this is definitely the time to invest and expect high yields on return in the future.
As I have said before, you really need to get to know the areas within cities that will be the first to take off as the housing market turns a corner. You will find that certain suburbs will do extremely well even if the overall local city growth figures are not looking too hot.
Check out the areas where rental demand is increasing and you will be looking at a prime area for your investment - key indicators are forecasted growth in population (looking for around 2% or more forecast), industry, infrastructure and increasing employment opportunities.
Local councils are the best place to enquire on new housing developments in the areas you may be interested in because what you really want to be looking for is high rental demand. Your local estate agents too will be able to tell you what kind of housing is the most popular and how long rental properties are sitting empty before suitable tenants are found. What you are really looking out for are rental properties that are being snapped up as soon as they come on the books because demand is high.
Particularly if you are looking to Wrap a house, it is a wise decision that you look for a good solid property made from decent materials - the kind of home you yourself would be prepared to live in. This will likely spike interest in your offer to help vendor finance a property to a potential Wrappee.
Make sure you go around the area in both the day and night time to ensure that it is a decent place to live in, and if you can, enquire with neighbours as to how they find the neighbourhood is, and even the reasons for the current house sale. Oftentimes you can pick up some great pieces of information that can help give you the edge ทาวน์โฮมมือสอง in purchasing your next investment property.
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