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Checklist for Property Purchase

The key to effective property investment is doing your research. This means considering the different areas for investment and identifying the type of property that will give you the best return. Once you have a list of potential candidates for buying it’s then essential to view these to find the property that’ll give you the best return, recommended Property Observer.

Come up a checklist for when you view properties so you can better work out the value of a place based on its attributes. Elements to include on the checklist include aspects like the location in relation to the CBD, historical growth, access to amenities, frontage, orientation, car access, light penetration and more.

You will be well placed giving each item on the checklist a mark out of 10 so that you can effectively rank the properties that you are looking at.

Remember that some features like the location are more crucial than others and should be ranked as more significant. A door lacking in security can be easily replaced, but the access to the CBD will remain the same.

Source: http://www.propertyobserver.com.au/news/up-close-and-personal-a-checklist-for-assessing-an-investment-property-in-person-stephen-zamykal/2013100265430