Tips when buying property
1. Buy where there is high demand with good infrastructure and services. Transport, schools and shops should all be nearby.
2. Make sure the property is in good condition and well built. Unless you know a lot about renovations and building costs, steer clear of dilapidated wrecks that real estate agents describe as ‘a renovator’s delight’.
3. If you’re going to put the property up for rent, make sure you sign up reliable tenants who will look after it.
4. Do the sums and leave yourself some financial wriggle room on your loan repayments. Don’t be tempted to borrow too much just because interest rates are low at the moment – they will go up at some stage.