A recent report said that property prices in Australia have fallen to a new low. That’s bad news for property owners with prices dropping 0.7 percent. This may not seem like much, but property experts claim that it signals a slow start for 2018. The good news? Well, it means that it’s the perfect time to buy up some property for a lot less than it’s worth. Property investments can be profitable even when the market is tanking or even, especially during this time. And, don’t forget, once you buy all you need to do is wait for the marketing to bounce back as it always does. But that doesn’t mean that there aren’t issues that you need to be aware of when you decide to invest in property. Let’s take a look at some of the problems that new rookie investors run into.

Use The Trends

When you think about what property to buy, you should be keeping an eye on the trends that could impact where you should purchase homes. An example of this would be the job market. The job market will tell you where people are more likely to turn their interest towards  and where the richest buyers will be investing. And, we’re not just talking about home buyers. The job market will point the way towards commercial property investment possibilities as well. You need to an eye on the locations and where different companies are focusing most of their resources because this is where you should be buying up business buildings.

You need to look at style and design trends as well. This will show you the type of property that you should be thinking about purchasing. For instance, in 2018 open plan living is the epitome of style. As such, you should be looking for homes and houses on the market with this type of layout. Look for homes that are low maintenance as well with easy to clean floors. This will again help you attract modern buyers who don’t have time to spend hours vacuuming and polishing.

Aside from these type of trends, you also need to be completely aware of the interest rates. Contrary to popular belief, the interest rates are not currently lower than usual. Nor, are they particularly high. In fact, they are right smack in the middle of average and will likely remain there. But if interest rates rise, buyers will become rarer, and that is something you must be aware of.

Don’t Try And Sell The Nightmare Home

It’s tempting and perhaps even financially profitable to sell the fixer-upper. The only issue with buying a fixer-upper is that they usually have expensive, serious problems that can be impossible to fix.

Before you buy the property, you should be completing a range of different checks. A lot of sellers will do everything that they can to make sure that you skip over these checks because they don’t want you to uncover anything. Don’t fall into that trap. Hire the experts and leave no stone unturned. Make sure that you complete a full survey on the property as this is the only way to know exactly what you are purchasing and whether it is a solid choice.

After you buy the property, you need to complete more tests before the home goes on the market. Surveys can always miss issues such as pest infestations. A pest infestation will make a home an impossible sell. That’s why you should never leave a property that you have bought derelict for too long because rodents and other beasts will move in, jeopardizing your investment. Building & pest inspections can be arranged for prices that you will be able to afford and give you the peace of mind that your home is ready for the market. If there is an issue with the home or development, you can fix it up in no time at all and get things back on track.

Give Them The Whole Package

This is particularly important for those looking to invest in and sell business buildings. Business owners don’t have the time or the money to wait around to get a building up and running. They need everything ready to go when they buy. You are far more likely to get greater offers and sell quickly if you have everything they need set up to go. So, for an office, you might want to ensure internet ports are up and running.

Some home buyers will always be delighted by this possibility. That’s why built-in fixtures, and other pieces of furniture are worth considering. Investment wise, this will cost you a little more but a fully operational property that’s ready as soon as you hand the buyers the keys could certainly fetch a higher price.

Building From Scratch

Of course, you might be considering building the property up from scratch, creating a new development to sell on the market. Is this is the right choice? Will it sell and will you be able to keep the costs under control? There’s a lot of questions to answer here, and it all depends on the decisions you make. You’re going to need to choose the right land and find a developer that you can trust. Any mistakes here and you will find that building a new development eats your budget far faster than you can make a profit.

If you’re looking at the opposite direction, you can think about speaking to an investment broker. With these professionals on your side, you can immediately find a property to invest in, but this will be completely hands off. You’ll put the money into the development, and it will be a dice throw as to whether or not you see a substantial return.

We hope this helps you navigate the world of property investments and development. As you can see, there are a number of issues to be aware of, but the time is right if you are ready to take the first step.