Property investment has a lot of positives over other forms of investment. It is often more stable, you can earn rental income and it is a tactile venture.
With the current housing market, it's easy to see why investors would want to get involved with real estate in Bentleigh.
According to the Real Estate Institute of Victoria, Bentleigh entered Melbourne's million dollar suburb list for the first time in the March 2015 quarter, with a median price of $1,182,500.
Furthermore, the growth is showing no signs of slowing. Figures from propertydata.com.au show that in the year to March 2015, the median price in Bentleigh rose over 18 per cent.
Despite all this, there are some pitfalls to real estate. Here are some important things to remember to help you make a smart investment in Bentleigh.
According to the Australian Securities & Investments Commission, you should do as much research as possible before making any decisions. This could include scheduled developments in the area, rent cost in relation to property value, recent sales and vacancy rates. It is highly recommended that you look at areas that you're already familiar with.
Keep an eye out for homes that offer additional features like extra parking, a second bathroom or a study. It is also important to invest in property that isn't just segregated to one sector of the market – like couples for example.
Make sure that you have enough finance to not only pay the costs of purchasing a home, but also the expenses of owning a property. This includes taxes, maintenance and insurance.
If you're interested in real estate in Bentleigh, talk to Matt Hurlston and the team at Ray White Carnegie. With our expert knowledge, we can guide you through the process of investing in property to ensure you're getting the best deal.