Think like A Property Valuer

Real estate can be quite an emotional asset class as opposed to shares and often, investors make decisions which are emotionally driven.

A better strategy is to approach property investment like a property valuer- more facts and less feeling.

Property Valuers are not clouded by emotion or sentiment.

Here are some tips from RealRenta to help you stay objective:
•Research the market and use hard facts only, not sentiments
•Research the sales/rental history of the property
•Use Google Maps to calculate how close property is to amenities
•Search for titles, plans and any applications to council
•Ask the council if any nearby developments are in the works
•Attend auctions, speak to neighbours, estate agents and local businesses about the area
•Take stock of what is included in the sale and what is not (ie furniture, fixtures etc)
•Turn on taps and switches to make sure they all work
•Make note of the visible flaws
•Review the access and street appeal
•Take note of the condition of fencing, pools and outbuildings
•Note the slope of the block and any items that may require future maintenance
•Compare similar properties and what they have sold for and how long they were on the market
•Is the property on a busy main road or backs onto parkland?
•Keep your heart out of it and treat this like a business
•Consider what the current median is in the suburb and what the prospects for future growth are like
•Consider engaging a buyer’s agent who has a mission to help you locate a high-quality growth asset

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RealRenta is for Smart Investors, who realise that they are no longer bound to traditional property management and the associated high fees.

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Jason Gwerder
Thursday, 11 June 2020

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