Investing in property has become a huge trend among us Australians. It has become the thing to do, what with most of us Australians either already owning property or looking to take the plunge. If you’d place yourself among the latter of these two options, and you’re excited by the prospect of leaping into the real estate market, you probably want to know what makes a successful investment. Well, hopefully that is where we can cast some gorgeous sunshine on the matter and give you some tips on what makes a smart buy.

Research, Research, Research.

Successful property investment is all in the detail. It’s about planning and researching, immersing yourself in as much information as you can. That’s what the internet offers; a free education. Sure, a great way to improve your knowledge is to ask someone for their advice, but always qualify that information. There are no shortcuts in this game, and it is up to you to put in the hard work.

It’s All A Matter Of Money.

Knowing your personal budget - the ins and outs - is critical. Make a note of all your savings, all your assets, your incomes, outgoings, expenses, debts; everything. Then find an experienced and professional mortgage advisor, or broker, and go through the lot. As a word of advice, cut out the luxuries. That doesn’t mean don’t spend, it just means work out where you can afford to cut back.

Location.

Knowing where to buy is a great advantage. For example, most high value properties are located in big cities. But even then, where do you look. For apartments, try the suburbs, while a further out will offer you more space. Luckily for you, we no longer live in a world where we are forced to traipse the streets and look through the bright windows of real estate agents. We can now go online and get all the information we need in a split second. So, if you’ve decided Sydney is where you want to buy, simply search online for ‘apartment for sale’. The same goes for Melbourne or anywhere. But know what you are looking for.

Taxes.