The consistent strength of the housing market in Australia is running contrary to the estimates since the economy is presumed to grow by a modest 2.4 percent last year with the GDP rising to 2.4 percent in 2014 according to the International Monetary Fund. There are two basic reasons behind this; first the Reserve Bank of Australia has consistently kept a low cash rate after it was cut down by 25 basis points in February and May last year. Another factor is the rise in purchases of residential properties by foreigners, particularly Chinese, who find the real estate property in Australia quite attractive. From the first time, you take the decision of investing in real estate property to actually renting one, encircles a lot of aspects to be considered. These tasks involved in getting the Caloundra real estate rentals seem very daunting for the first-time investor. A few tips would help in easing out the venture for you.
Beginning with the search
Although you can get the aid of proficient real estate agents Sunshine Coast has to guide you through your search, you may begin searching for the investment property on your own. And a few things that deserve to be considered are:
· Neighbourhood: The quality of neighbourhood is definitely an important factor. For instance, if you have children, you would definitely want schools and colleges nearby with a good communication system which connects you with the rest of the city. When you rent out your property to someone, they shall also be in need of decent schools. Although you will be much more concerned about the regular cash flow, these things would definitely influence the reputation of your Caloundra real estate rentals.
· Property taxes: These vary from place to place and as a real estate investor, you would have to be sure about how much you will lose on taxes. A setback is not encouraged even if the property taxes are a bit higher; if the neighbourhood and locality are posh and decent, high property taxes are worth the bid.