Today QV published the list of 10 best and 10 worst performing area for the property.
• Do your homework before you buy the property: -Is there a new development in the area (Can be good or bad) -How the employment rate, are they stable (hobbit!!!
) -Are there good schools available in the area -Is there a good medical and emergency facility close by -How is the lifestyle , is there a gang presence in the area!
For example look at Gore, it is on the top of the list because of the farming and industrial projects around the area?
• Remember the saying “Location, Location, Location!
” Buying in a top performing area can increase your chances of the property increasing in value and will make it more desirable to purchasers in the future. • Always be careful when you want to buy in a touristy or trendy area as the prices can be inflated by overseas investors’.
Look at the worst 10 list you will see most of these areas in the list!• Never put all your eggs in one basket – just imagine the feeling of the property investor who bought all his property in Queenstown!• Don’t buy based on emotion, all of us want the house with a sea view but it is not necessarily the best investment.• Don’t buy in the area in which the whole economy relies on one company or business (meat works, power company, timber) we have seen so many towns that have gone through boom and then died because the company decided to close the plant or stop the business in the area.- The Internet is an immense database that provides users with a tremendous amount of information on research, commerce, and entertainment.Unfortunately, as the internet keeps advancing, online predators continue to become more successful in what they do.