With interest rates at a record low of 0.1 % and the big banks offering fixed-mortgage rates of less than 2 %, it’s not surprising investors are taking advantage of the current economic climate and looking at how to get the best bang for their buck.

But if you’re new to the game, where should you buy?

Everyone needs somewhere to live, and almost every property is able to be rented at the right price wherever it is.

But everyone has different priorities when it comes to location; some don’t mind a long commute if it means they are getting the lifestyle they want or their child can be in one of the more desirable schools.

In order to get the best returns for your investment, and for your property not sitting empty for any length of time, you want it to be in a location which is attractive to most people, and will tick their ‘essential’ location boxes.

With this in mind, your location tick list should consider the proximity to the following:

Shops and services

While country living is something some people dream about, the majority of people don’t like to have to travel too far to do their food shopping or visit the doctor or dentist.

Transport

Generally, an investment with good public transport links, and/or proximity to main roads will attract more interested tenants and your property will be less likely to stand empty for any length of time.

Employment opportunities

Although working from home is on the increase, many people still do have to travel to work, and they usually like to get to work quickly. It stands to reason therefore that properties close to the CBD are desirable. However, it’s worth looking at employment centres in other areas; these are more attractive for people to work in if they’re looking to avoid a daily commute.

Another point to remember if these other employment centres have the potential for growth, the area will become a more attractive place to live, and your property may experience a higher capital growth over time than in other areas. This means you may also achieve higher rental growth over time.

Schools

If you’re looking to attract families, you will need to factor in what schools are nearby and the catchment area for your property. Generally, the better performing the school is, the more desirable the location is to families. If you want to know how a school is performing in an area, one place to look is www.myschool.edu.au.

Lifestyle choices

Locations with easy access to different lifestyle choices, such as recreational areas, gyms, entertainment, restaurants and café strips all fair well. Proximity to the beach of course is always attractive, but this will obviously affect the price!

We have been in the Newcastle area for over 40 years, so we know the pros and cons of every suburb and we know what makes for a good location. We believe we go above and beyond expectations which is why we are one of Newcastle’s longest established real estate companies.

If you want to know more about our property management services or investing in property, get in touch. Our motto is very simple – we treat every property as if it’s one of our own.

We’ve helped thousands of people realise their dreams through property and our aim is to make your life easier. Simply give us a ring on 02 4956 9777, send us an email to mail@newcastlepropertymanagement.com.au or pop into our Cardiff office for a chat.

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