With investment properties currently bringing in an average rental yield of $950 per week, the right real estate in Bondi Junction could be bring you reliable returns and even investment property tax benefits. So when it comes to viewing properties and making that choice, how do you discern a solid investment from the rest? Based on our experience across real estate and property management in the local area, these are the key factors to consider.
Proximity to important amenities
By simply looking within the suburb, every Bondi Junction property will be in a fantastic position close to both the beach and the CBD – but it’s also worth considering how easy it is to get to each of the important facets of life. How many minutes would it take to get to the area’s great schools? How about Bondi Junction shopping centre, parklands and transport links?
Green or open spaces
Humans thrive on connection with green and natural spaces. This doesn’t necessarily mean the property needs to have a generous private backyard (although this is a great feature), because an open balcony can have the same appeal for tenants living in an apartment. Others might be within walking distance to a park. If a tenant will be able to find their way to a green space within a minute of home or even closer, it’s a great sign.
An appealing lifestyle
While a four bedroom house will attract different tenants than a one bedroom apartment, this factor is all about assessing whether the property can provide a clear sense of lifestyle. A young professional might be looking for lifestyle amenities such as a swimming pool or gym, or having a low-maintenance home that can be easily locked up and left over holidays. Meanwhile, a growing family might be seeking out a patch of lawn and a garage.
Solid property condition
Whether you’re buying an old or new property, quality is key. An older property isn’t a poor investment simply because it’s older; in fact, many people will actively seek out a home with character and history. As with any property, it’s important to check for any structural issues that could cost you down the track. Here at Wills Property we focus on listing quality properties that are largely ready to move into or rent out.
Appealing aesthetics (or the potential for such)
Aesthetics matter because first impressions always count, and potential tenants will be initially judging the property based on listing photos. It’s important to consider whether the property either photographs well already, or will after a bit of TLC. Crisp neutral walls, natural light and authentic textures such as timber floorboards and exposed brick have universal appeal.
Wills Property can help you to both find the ideal property and to keep it successfully tenanted through our proactive property management in Bondi Junction and surrounds. Our team is always here to help.