First time buyers feeling relaxed
Investing in or buying a property is a big step, but according to a new survey,those doing so for the first time feel relaxed about the decision.
RAMS recently released the 2014 First Time Investor Survey, and discovered that 76.3 per cent of people questioned do not feel tense when it comes to investigating investment property for the first time. Martine Jager, CEO of RAMS, suspects that the current crop of new investors are more business savvy and proactive than in the past, and know when to seek aid with their investment, doing so diligently.
Reasons people gave for making this first move were potential capital growth, the current low interest rates and potential tax rewards. The main deterrent to investment would be a large interest rate rise, but rates would need to increase by 2 per cent before deterring buyers. RAMS says that due to the current interest level trends and this high threshold, investor demand could remain very strong for the next year.
Those surveyed prefer to seek out established small suburban homes or apartments in quiet areas near public transport before looking at inner city apartments.
When asked how they sought aid for their first property, the most popular response was real estate websites. However, consulting friends, family and real estate agents is still popular among many people.
It was also noted in the survey that almost one-quarter of people needed more help to jump-start their property buying, and many were worried about poor property management after making their investment. It can be difficult moving from being a home buyer into being a landlord, and LJ Hooker's team of property managers act as a midpoint between you and your tenants. This can help greatly with any issues such as property damage, which 8 of every 10 people surveyed by RAMS deemed their biggest concern.
Property managers also have long experience dealing with local tradespeople and can be able to negotiate faster, higher quality works to be done on homes at lower prices. Harness that investment confidence and give your local experts a call to ensure you have a comfortable, stress-free experience making your first property investment.