By John Sage Melbourne
It’s the stuff of nightmares: you get to the pointy end of your property investment journey,you dedicate and buy a property. And then it turns out that it was the incorrect one to buy. A terrible outcome,however it happens!
So let’s discuss what you can do to avoid purchasing the incorrect property.
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Some expressions are clichÂ© because they are real,and here’s one: location,location,location. You need to find a position that’s going to work for you because of nearby facilities,or because itremains in demand from wealthy owner occupiers.If you’re considering purchasing a fixer upper,seek to guarantee that your home has excellent bones to construct on. If the structure and foundation aren’t sound,it’s going to be a much harder road for it to get you a revenue.
Thinking of a knock down and reconstruct? Your fixer upper might be beyond that fix,and it may be smarter to tear it all down and go back to square one. Here,consider the location of the house,the expenses to demolish it,in addition to the structure expenses. Whip out the calculator and make sure the numbers build up before handing over your hard-earned.