Let us help you find the perfect investment property

Let us help you find the perfect investment property

The market is flourishing on the Northern Beaches, whether you’re in North Narrabeen, Narrabeen, Elanora Heights, Ingleside or Warriewood. This means it’s a great time to buy an investment property.

However, buying an investment is not the same as looking for your own home. If you get it wrong, you may not enjoy the best returns.

Some properties have a lot of issues and are best avoided, while others have amazing potential for capital growth and steady rental income. Here’s a look at why you should invest on the Northern Beaches and what to look for in an investment property.

Why invest in Northern Beaches property in 2023?

The Northern Beaches are evergreen in terms of their appeal to buyers and tenants.

While the stratospheric price growth witnessed during the pandemic has levelled off, the area continues to be popular and values are increasing steadily.

With things a little more quiet than previous years, now is a good time to get in and invest. Once interest rates drop, it’s expected things will take off again in a big way.

What makes a great Northern Beaches investment property?

When investing in Northern Beaches property, look out for houses and apartments that are:

Well-maintained, with only cosmetic work required: You don’t want to have to sink money into making the place liveable. If you were buying a property to live in yourself, you might not mind this, but it’s a waste of time and money for investment. This goes double in 2023 when there is a skills shortage, and it is harder than ever to find workers and materials to carry out construction jobs. Look for a property that any tenant would be happy to move into right away, with as few upgrades needed as possible.

Do the check… could you live there if you had to? If the answer is no, move on.

Close to services: If there is one flaw in Northern Beaches suburbs, it is that they are not all walkable when it comes to accessing public transport. Aim for a house or apartment within walking distance from a bus stop or near a B-Line station where commuters can park their car for free.

Low maintenance and ongoing costs: You are buying an investment property to make money, not spend it. While there will always be costs involved, you should look for a home that is low maintenance and has minimal ongoing costs. You don’t want to spend too much of your time or money trying to keep your investment property liveable.

Be aware of future developments: While the Northern Beaches are relatively stable, there are still always new buildings and infrastructure in development. People with properties on parts of Mona Vale Road, for example, are experiencing a very different style of living while the road is being widened. Check to see what might be coming up in the area surrounding your potential property to ensure that it won’t be affected by future changes.

Parking: It’s not a deal breaker, but parking can be an issue in some parts of the Northern Beaches. If you can find a property with adequate, off-street parking, then this will be a great incentive for potential tenants.

Growth potential: Land rises in value faster than dwellings themselves so consider purchasing a house if you can. If you’re looking at apartments, aim for a place that’s not too old and check the strata fees won’t eat into your income too much.

Need help to find an investment property?

At Hunter Estate Agents know the Northern Beaches like the back of our hand, particularly around Narrabeen, Warriewood, Elanora Heights and neighbouring postcodes. If you are looking to invest, we can help you find a place that ticks your boxes.

Finally, we can also take care of your investment as property managers; we’re happy to have a discussion when the time comes for you to settle on your purchase.

Use our buyer’s agent services to save time, effort and money while you find the perfect Northern Beaches investment property.

Leave a Reply

Your email address will not be published. Required fields are marked *