Buying an investment property is a big deal on its own. Especially when you have lots of investment properties available in the market. Property Valuers Adelaide advice to have a clear picture of your planning in your mind. What you actually want is more important. You do want a property which needs little maintenance and helps you in generating the monthly rental income? Or you need a property to flip the house?
Actually, when you buy a property especially an investment property you need to consider so many things. There is no thumb rule which says a particular house or unit is going to be more profitable. So to make your property investment experience easier and favourable here we have listed down advantages of both the property types –
Why you should buy a unit as an investment property and why not?
If you have small money for an investment purpose buying a small unit is a good idea. You should buy a unit which cost you quite less than buying an independent house. You can easily find the potential tenants for such small units which ultimately helps you to generate good rental income. Usually, these units are built in a prime or central location which keeps these properties always occupied and thus tenants doesn’t have to face trouble in finding the tenants.
You have to give the society maintenance expense and communal facilities and other expenses which you need to consider in your budget. Usually, maintenance will be done by body corporates. This gives relaxation to the property owners. But when it comes to renovating the investment properties you have to take the permission from the body corporate.
These are the reasons why you should buy an investment property and why not.
Why you should buy a house as an investment property and why not?
Houses are quite expensive to buy. So if you have a big mass of fund to invest in you can choose to buy an individual house. You are completely in charge of maintaining that property. You are all free to make renovations and remodel the house as per your need and requirement. You own the land and property both when you choose to buy a house.
Make sure the expense in maintaining the house is more as compared to a unit. Here you may need not to pay strata fees but you surely have to pay property tax and other fees to the government which usually unit owner doesn’t need to pay.
These are the pros and cons of buying a house or a unit. You should invest in those properties which gives you good returns. Before buying any property you should hire a property Valuer Adelaide and take the right advice from them.