Investing in real estate is the logical next step for financial growth whether you’re in New South Wales (NSW), Victoria, or even the United States. Real estate prices are on the rise over the long term, and investors know that they can lock in fantastic wealth-generating assets with targeted buys in the property market. Real estate creates more structured and long term wealth growth than any other investment asset class, and the wealthiest investors in the United States, Australia, and beyond have been tapping into this strength for many generations.
That being said, the landscape is changing, and more investors are able to create these same elements of success for themselves. If you’re ready to invest in your first—or next—real estate purchase, read this guide to help structure your approach to the marketplace for maximum impact.
Investing in real estate begins with your personal finances.
In order to make the most of the market, you will have to create a roadmap that begins with your own personal financial picture. Professional realtors—like those at Venterra Realty—suggest working toward credit score improvements and personal savings in the twelve months that precede any buying opportunity. Venterra’s team of realtors has seen it all when it comes to buyers. Some are uniquely prepared for the challenges of real estate ownership and investment options, while others approach the market with little preparation and flounder in the early stages.
Taking the advice of Venterra CEO John Foresi will put you on the path to success and eliminate many of the rookie mistakes that many real estate investors fall prey to as they begin to plot their course into this exciting new asset class. Strong savings habits and a stable credit score play a huge role in lenders’ decisions to provide you with the required funding.
Think about future market trends.
One of the most important things a real estate investor can do is keep one eye on the future. Homes and other properties are changing right in front of us. One place where this is evident is with the electricity infrastructure roadmap provided by the NSW Government (for more on the roadmap for NSW’s renewable energy future, see this article).
This is a major infrastructure overhaul for residents and homeowners alike, and it will force everyone to rethink their electricity supplier and usage habits. One great way to get ahead of the curve is with an electricity supplier change. This is a great way for investors in the property market to reduce their monthly bills or bring in new interest in a rental property to boost overall revenue from the investment. Searching for “compare electricity NSW” is the simple way to get you started toward this energy-efficient future that also locks in a price reduction that will save you buckets of cash over the long term.
Another option, albeit a more drastic measure, is to install solar panels on a property you own. Bringing renewable energy solutions to a property is a great way to capitalize on the market’s continuing direction while offering tenants or new buyers a turnkey renewable solution that’s great for the planet and will immediately reduce their heating and electric bills. Many people want to live in a solar-powered home, but the installation can be somewhat costly and time-consuming, so providing this as an existing feature on a real estate investment could be the X factor that sets you and your brand apart from the competition in the local marketplace.
Getting into real estate is a great way to electrify your savings portfolio. Make sure you prepare well for the purchase and tackle developing market trends head-on for maximum success.