Investing in your future with investment property in Western Australia

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Investing in your future with investment property in Western Australia

When it comes to transforming your savings into a steady stream of income for your retirement, nothing beats property as an investment. Property is a tangible asset that can’t disappear in a turn of the market and it can be insured against any kind of disaster, whether man made or natural.

Thanks to property investment companies such as Ironfish, real estate investing is no longer the domain of the super rich. It’s easier than ever for the average Australian to get in on the action, and Ironfish is here to show you how you can find your investment property in Western Australia.

The first rule of property investment is finding the right investment property. In Western Australia, that means looking in urban centres, especially Perth, where people are moving in seeking new job opportunities. Those people create the growing demand for centrally located residential housing –and that’s exactly what you’re going to provide.

Your Western Australia investment property should be near the city center or the waterfront but not in a location that’s already in heavy demand. You want to find the neighborhoods that will be the next big thing. Consider what industries are booming, or where new infrastructure is being built. A little research and some help from a local property investment company will help you locate the next moving area.

Once you’ve pinpointed the areas you’re interested in, it’s time to find the right home or apartment. Look for Western Australian investment property that is turnkey – i.e. ready for residents to move in immediately. Properties required extensive renovation can easily turn into money pits and take way too long to bring to market. Consider local amenities and the livability of the apartment. Does it offer a flexible open floor plan and good views? Is it near markets and public transportation? Don’t pay too much for a good location if the apartment itself isn’t a desirable environment.

And finally, as you build your portfolio, it is important to keep your goal in mind. Is your Western Australia investment property a rental unit that will start generating income right away? Or is it an appreciation property that experience a significant rise in value over the next decade or so? At Ironfish we encourage our investors to create a balance between these two types of investments. You should also look to diversify your portfolio geographically, spreading out your investments over several cities so when one city experiences a slowdown, your other properties will shield you from the impact.