Related Articles
VIEW ALL ARTICLES
Buying an investment property can be a seamless and stress-free experience. Follow this 8 step process to start your journey toward financial independence.
Buying an investment property is exciting, especially when the purchase sets you up for a prosperous future, starting your journey toward financial independence.
But before you start any property investment journey, it’s important to understand the process. This article outlines 8 steps to follow to make buying an investment property a seamless and stress-free experience for you.
It’s important to have a strategy in place before you buy any investment property. This strategy should then be used to guide all your future decision-making in relation to your investment.
At DPN, we provide a personal property investment plan that’s based on your financial needs and goals. For example, you may have a higher priority on your investment property generating rental income for you than capital growth, or vice versa.
It’s important to know how much you can afford before you start looking to buy an investment property. Knowing your budget helps you to ensure you only look for high-quality properties in locations that are in your price range.
You can avoid wasting time looking at properties that are out of your budget. Different factors impact the borrowing power of property investors, some are outside your control such as rising interest rates.
Our team can help you to work out your borrowing capacity before you start looking for your investment property.
Choosing the right property for your financial needs and goals is arguably the most crucial step in the property investment process. Our team can provide you with a range of suitable land and building package options to compare different high growth locations and property types, such as a dual income home (also known as a dual key home), duplexes and regular houses. DPN can also help you to make sound property investment decisions that are consistent with your goals and based on independent research.
Once you have selected your preferred property, you will need to complete some contractual paperwork and provide a deposit to get the ball rolling and secure your property.
Our DPN team can organise all of this paperwork for you, including liaising with your solicitor.
Formal approval of your finance application is the next logical step in the process. This ensures that your funds will be available to settle the purchase of your land and at progressive stages during the building process. When you’re building a home, you only pay when stages of the building process are completed.
Once again, our DPN team can ensure that this financing happens as quickly and as smoothly as possible. Arranging property finance is part of the total property investment solution that we offer, or you can arrange your own finance. It’s totally up to you.
Choosing the right property for your financial needs and goals is arguably the most crucial step in the property investment process.
This is a really exciting step. You will start to see your property investment materialise before your eyes as it is progressively being built. At DPN we partner with high quality builders and can ensure that your property investment dream becomes a reality.
Once your property is finished, you can start getting a return on your investment by renting it out to tenants. Once again, our DPN team can help. Sourcing and managing high-quality tenants is also part of our end-to-end property investment service.
The really great part about new house and land packages in great locations is that they are in high demand and deliver great rental returns.
You should always find the time to analyse the return on your property investment each year to make sure it is delivering the results you want, including tax benefits. Our DPN team can help you with an annual investment review of your property to make sure it is continuing to meet your financial needs and goals.
At DPN, we can help you every step of the way on your journey to buy an investment property. From developing a strategy, to getting your finance approved and building your property. We can help with your ongoing property management as well; it's a comprehensive service to make becoming an investor easy for you. To get started give us a call today or book online to speak to an expert.
Our experienced team can assist with:
.svg)
