Can you guarantee the results of a property investment you have just made? Every investor hopes to possess a kind of crystal ball that will tell them whether the one-bedroom unit, located in an inner city suburb, they bought will fetch them a handsome profit when it is resold in the future. Unfortunately, the property market does fluctuate and so what may be favorable conditions for investors now, may not be so favorable down the line. But there is still a way to avoid experiencing an unsuccessful property investment.
All you have to do is make an informed decision. How do you do that? Aside from taking a tour of the house or unit, you need to acquire the necessary data that will be the basis of your property investment choices. You need to get a suburb sales report. Below are its top three advantages.
1.You discover the property sales history of specific areas
A property sales history tells you if a certain suburb sees a high turnover of properties. If one suburb in a certain region has consistently sold houses, over a long period, you can safely conclude that buying properties in that area will allow you to resell those investments quickly. As you know, any house or unit that sits on the market for too long can and will fail to yield promising returns. Buyers will be wary of properties that have not been sold for several months or a year because they will think something is wrong with it.
2.You receive critical information about the properties that have sold
Suburb sales reports will contain details about the sale price, the sale date, the features and type of property that have sold in the suburb you are considering. By having these details, you can tell whether a certain suburb can sell units worth over a million or whether another suburb can sell large houses worth under a million — in a short amount of time. Such details will allow you to choose the perfect property type and gauge the potential profits you can earn from that investment.
3.You get a better idea of which suburbs are favorable for investors like you
Some suburbs may have high value properties but show minimal sales activity, while other suburbs may offer up low value properties but present signs of improvement in sales activity for the second quarter of the year.The best way to assess the suburb you are considering investing in is to get relevant data that has been collated for over a year, at least. Suburb sales reports will deliver the guidance and information you need to determine whether one area is a better investment than the other.
About the author:
This article was written by Oliver Finney. He is an enthusiast of the real estate industry and loves to continuously learn and share knowledge about the vast and comprehensive world of the real estate business. He follows real-estate related websites like http://www.myrp.com.au