Now is the time to start your research.
Like any city Brisbane is made up of many different property markets, even neighbouring suburbs can attract different buyers and tenants and offer you different returns for your investment dollars.
Talking to local agents and getting to know more about a suburb’s population and infrastructure fundamentals will help you narrow down your preferred location.
But once you’ve chosen your ideal burb and property type, should you invest in a new build or a property that’s ready to reno?
It’s at this point you should continue your discussions with your local agents and also your tax accountant and financial planner. But here are some pros and cons, courtesy of Australian Property Update, to help you weigh up the questions that might be most relevant for you.
Advantages of buying a new build:
- Strong appeal to renters
- Less maintenance
- Tax advantages through depreciation
- Ability to customise floor plans and inclusions.
Disadvantages of buying a new build:
- Off the plan purchases can hold extra risk such as building delays
- Higher purchase price than an existing home.
Advantages of buying an existing property to renovate:
- Lower purchase price
- Ability to buy in an established suburb
- Potential to buy a property already tenanted
- Potential to add value through renovation.
Disadvantages of buying a renovator:
- Potential for renovation cost blowouts
- Potential need to replace older appliances
- Lower rent than a new build.
Getting ready to invest? View our current listings for sale and talk to us about landlording.