Is propert investment (in Australia east coast) a good idea? What type?

Question

What type of investment should I be looking for?

House? Near water? Unit? Townhouse? Serviced appartment? Land? Rural acreage?

Answer 1

Residential property is a staple of the NSW real estate market, particularly in Sydney and surrounds.

Each type of property has its benefits. Many first time investors like home units, because there is generally less 'hands on' work needed, the body corporate is responsible for general maintenance, and the anonymity of units can be more comfortable if problems arise.

Free standing houses are worth more as rentals, but mean more upkeep and there is no 'buffer' like the body corporate to do things like repairs and arrange insurances.

Near water is the best of all possible locations in NSW, but the price of such properties does reflect this, even in smaller country towns.

I have heard in the past that land is the least useful investment because as long as it's empty it's not useful.

Recently I had a discussion with a friend regarding the popular serviced apartment investments in central Sydney. A friend of hers bought one of these and found that the fees and charges for the body corporate and 'service' providers (e.g., compulsory cleaning firm) were much more than anticipated. If you were considering that type of investment, you might want to look into that very carefully.

What many people like to do is go to a financial adviser or real estate agent with a good reputation, and ask for straight talking advice.

In NSW, investment advisors have to be licenced and are required by law to advise you if they receive any commissions from people they recommend you to invest with.

Best wishes :-)

Answer 2

property investment anywhere is a good idea.