|Buying Property Tips#1: Choose the Right Location|
|Before you choose a location, it is of utmost importance that you consider the development prospect of the area. Other factors to consider here is crime record of the area, availability and nearness of public facilities and utilities.|
|Buying Property Tips#2: Study the Local Market Dynamics|
|It is important to get well familiar with the local realty market. Learn the variation in property prices by street. Don’t shy away from asking a few realty investment agents questions to get better insight on the matter.|
Under normal circumstances property valuation is a process performed when a person is seeking a loan against his land or at the time of sale and purchase. At the time of acquiring a loan from a bank or a financial institution, it is more or less mandatory that in case you default to pay back the loan amount they can sell your asset to regain the loaned money. The financial institution can employ their own property valuation experts or seek help from a professional third party real estate valuation firm for the purpose. On the other hand, any land owner can seek services from these third party real estate valuators for the purpose of selling or purchasing property against the original value.
While dealing, evaluation of a house or commercial space is of immense importance to ensure you maximum gains from that deal. With some basic understanding and quality information about the valuation space, you can minimize the chance of any kind of loss.
Qualities Required For a Professional Property Valuer
In Australian real estate industry and also in most other countries in the world, a professional and independent third party real estate valuer plays a major role in any housing and commercial real estate deal. It is because of the fact that the valuer has not vested interest in the land they are evaluating and the report they prepare is actually a legal value assessment of the property that is used in a number of different properties.
|Buying Property Tips#3: Choose the Right Property|
|Getting the right property right away is quite unlikely. First, you need to be clear on why you want to buy an investment property. After that, you will be able to make right decision based on factors like remoteness or accessibility of the property.|
|Buying Property Tips#4: Do the Math Properly|
|Get a precise idea on the value of assets you have available. If you are investing in rental property, make sure you can easily cover the mortgage payment through rents. Additionally, get a clear idea on the appraisal value of the property beforehand.|
|Buying Property Tips#5: Consider Additional Expenses|
|When purchasing an investment property, it is not only the selling price that investors need to consider. There are various additional expenses such as property tax, home owner’s insurance, repair & maintenance that must be considered.|
In order to have a career in a professional Property Valuation Australia, an aspiring individual must have a tertiary level qualification in the designated field and must also procure a license or a registration Certified Property Valuer (CPV) from the appropriate and responsible state body. House valuers with this qualification are the only legally recognized real estate interpreters in Australia.
Required Educational Qualification
The essential educational qualification of a commercial real estate valuer differs across states, but the present non-student membership to property institute requires an aspiring candidate to complete his tertiary study in the relevant field, and should have successfully completed a supervised field experience program. The aspirant is also required to meet his/her Continual Professional Development (CPD) for the real estate industry. A CPD indicates that the candidate has made all the pre-mentioned requirements and can start working in professional Australian Property Valuation industry.
Career Prospects and Earning
With the ever increased demand of reliable valuation professionals in the real estate industry of the country there is a lot of opportunity for the qualified Valuers, since they have now become almost indispensable during any real estate deal and depending upon their efficiency and network the earning potential of an Australian property valuer can very well go beyond the maximum limit.
|Buying Property Tips#6: Inspect the Property|
|To ensure that you are getting everything you are paying for, a thorough inspection of the property is essential. Besides ensuring that you are not overpaying, a rigorous property inspection also gives you a good estimation on what the additional expenses might be.|
|Buying Property Tips#7: Pick the Right Financing Option|
|While interests on investment property loans are tax free, some borrowing costs aren’t immediately tax deductible. Knowing that, and structuring your financing in accordance is crucial. Don’t hesitate to ask for help from a financial advisor.|
|Buying Property Tips#8: Invest through Equity|
|One of the best ways to purchase an investment property is to leverage the equity of another property (including your primary home). This is a preferable way among regular investors, especially due to added tax deduction advantages.|