The difference between buying a home and buying real estate

home vs real estateWhen you bought your first home you probably thought a great deal about its location and the style of property it was. You probably also asked the opinions of your friends and family and considered the property’s proximity to them or to schools and your favourites cafes.

All of these things are important factors when deciding on a place to call home, and you should always take stock of what your heart wants when making an owner-occupier buying decision.

Buying an investment property requires a slightly different thought process however. While your opinion as a buyer still matters, what you should really be thinking about is numbers and what the general population is looking for.

Some investment buyers become deterred when they don’t like the look of a certain property or because it is in a place they can’t see themselves living in, but a good investment property doesn’t need to be a place you want to live in.

When you’re buying as an investor you should have a solid understanding of the Australian real estate market and look at past performances and data projections for different regions, and try to leave your personal opinions out of the equation.

Some things to think about when buying your next property:

–       Why are you buying this property?

–       Do you want a family home or are you looking for financial benefits? Or maybe both?

–       What is your long-term property strategy?

–       How will buying this property affect your financial situation, both now and in the future?

If you want any advice about buying investment properties or a place to call home in Bacchus Marsh, then feel free to come in and have a chat to one of the team at Professionals Arbee Real Estate and we will help you find a house or a home to suit your property needs.