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Bargain to Boom Suburbs

November 6th, 2013.

Is the suburb that you are reviewing to invest in average to below average in cost?  Does that make it an unsafe suburb in which to purchase a rental investment?

Here are a couple of key thoughts to consider;  are you planning on holding onto the investment long term?  Can you speak to your property manager about current returns and the calibre of tenants for the area?

Some suburbs are bargain suburbs – simply because they are held back by social economic factors, distance from the CBD, are on outer edge of suburbs that have increased in value.
 
 
But with time – these things all change.  If you are keen to hold onto your investment property long term then this is key to buying a bargain now, for boom later.

Here are some of the key factors to establishing a bargain area.  First and foremost, the rental returns and the calibre of tenant attracted to a potential investment need to be good to very good.

Are there already established amenities in the area or are there plans to establish them? These include shops, restaurants, parks, libraries and schools, just as an example.

Is public transport available or easy to access in the area or will it be soon? 

How close is the area to the nearest beach?

How far away is the nearest hospital?  Two key areas here are firstly that a hospital has an abundance of workers that typically like to live close to work and secondly,  having a hospital close by is a big selling point to renters with a young family for current and potential family members arriving.

Bargain to Boom suburbs are for the long term investor. Ask your property manager before making that final decision if you are unsure.  

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