Buying Your First Investment Property

Oct 1, 2020

For generations, investing in property has been a great way to build wealth and set yourself up for the future.

While buying your first investment property can be nerve-racking, there are a few things you can do to make sure you’re making the right choice.

  • Speak to a broker – the first thing you need to do is understand your borrowing capacity, which depends on your income and savings. A mortgage broker will be able to give you a host of options, whereas a bank can only talk to their suite of products.
  • Get a valuation – if you’re worried about paying too much, buy the property subject to a valuation. That way you know you will be getting a fair deal.
  • Buy with your head – when buying an investment property, it’s all about the numbers. Don’t get emotionally attached to a property and buy based on your research.
  • Use professional advice – if you’re not confident, talk to a buyer’s agent. Just like a mortgage broker can get you the best loan, a buyer’s agent can help identify an investment property that suits your goals.

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