Investing in property can be both hard and daunting, especially if you are looking at becoming a first home owner. Like everyone else before we make these life changing decisions we turn to those closest to us for advice, and dare we say it sometimes their advice can be a little bit askew. So before you take the plunge have a read of a few of our pointers to help guide you in the right direction.
Queensland has started to see some upward changes in the property market of the last 6 months and this is due to:
Increase in jobs
Cost of living contained
Increase in interstate migration outweighs home loan approvals causing rentals and prices to grow
TIP 1: Buy in a popular, central location
When purchasing always look at investing in prime, central neighbourhoods. If you have to, always chance the property and not the location, because where the property is located is the key to your success. Definitely avoid locations that are dependant on a single industry as it can be fairly risky; if the industry fails, everything related topples as well
TIP 2: Active or passive investment?
First consider how much time, effort and money you want to invest in on an ongoing basis when looking to buy. When you buy property it is not an asset you can just forget about: to a certain degree you will always need to be involved with the management of you property, even if you choose to appoint a property manager. Yes the maintenance and upkeep of an apartment with an on-sight manager is going to call for less involvement then a large house that is going to demand ongoing upkeep. Always consider this when you begin planning your property investment.
TIP 3: Strong rental market
Ideally when looking to invest you want to buy in a suburb where the level of rental listings and vacancies are low, and the demand for rental homes is high. Generally if the vacancy rate is high (above 3-3.5%) it is considered to be weak which may affect your ability to rent. Always look for suburbs that have at least 30% of local residents renting to ensure a steady stream of renting potential.
TIP 4: Look for the ability to add value
Dozens of strategies can be used for investment properties to add value and ensure you get ahead. Through simple or elaborate renovations, many investors manufacture price growth by helping to improve the property’s intrinsic value and assist in rental return. A few simple cosmetic changes to a house can increase the value, whilst property bought on large land has the opportunity for future development.
This post by no means gives you all the answers to a successful investment but it can assist in planning and ensuring you are making the right decisions. Investing in property in Australia is essentially a business decision and should always be treated with care and well thought out plan and strategy.
Architects; the people who bring amazing cities to life with their artistic and creative flair to the buildings and structures that make up our urban jungles. It is a career (or to architects, a lifestyle) that gives individuals the autonomy to experiment and creatively express their ideas through pursuing the artistic embodiment of project parameters. When travelling, different aspects of a foreign country appeal to different people. For some it is the people they meet, the food they taste, the history or culture that make up a community; for me it is the buildings. From the size and dimensions of a building, right down to the minute details in the lighting and intricate interior details.
Bar Harbor is a town along Maine’s Frenchman Bay on Mount Desert Island. When walking the streets of this town that is like something out a fairy tale, it allows us to slow down and appreciate the world and life we live in. The architecture of this entire town works brilliantly with the natural surroundings of the mountains and ocean, seamlessly blending the history of the town for tourists and locals. Surrounded my hills and mountains, the setting of this town can range from glistening sunlight to thick fog and mist; it is a lifestyle, an inspiration and a unique place. One guy who has found his muse and inspiration from this incredible town is an artist by the name of Sam Shaw. An artist by nature and builder/ architect by hobby, he skilfully brings his drawings to life creating a real life set like something from a Tim Burton film.
Nestled in the village of Islesford on Little Cranberry Island, anyone who stumbles across his works of art would think they stepped into what would seem like a fictional novel that we use to read as children. Think Hans Christian Anderson, a small cottage from one of his stories shielded from the elements by the surrounding trees with a tiled pointed roof that fits like a hat on a cottage with large arching windows, a faint glow illuminated from the fireplace inside, stone paths winding through the thick of the forest under arching timber entrances; this is the scene Sam creates with his work. From overhanging lamps perfectly placed on surrounding trees, to the impossible yet quirky lopsided twisting houses, his ability to essentially bring what would seem like a child’s drawing of a house to reality is second to none and inspiring. His works of art take you on a journey and brings out the inner child in all of us. Bar Harbor and the works of Sam flawlessly go hand-in-hand, taking anyone who has the privilege to experience this special place on an incredible journey.