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  • Profile photo of Cherie16Cherie16
    Participant
    @cherie16
    Join Date: 2011
    Post Count: 3

    Hi Chris

    The best property for you to purchase is the one that will provide you with the best outcome, in the shortest time for the least pain!  Before you buy a property you need to understand how you expect the property to make money for you – are you planning to buy and hold and rely on capital growth or do you plan to renovate/sub-divide (with the Kearneys Spring) property to make a profit from the investment.

    Are you buying the property as an investment or somewhere to live – all these things impact on which property will best meet your need.  

    I would suggest that you develop an investment strategy before you purchase (ie know why your buying it, how you expect it to make a profit for you, how much profit you want to make, in what time frame, how you will manage and ultimately sell it!).

    Also do you know the median prices for properties in each area you are looking at and the median rental you could expect?  Do you due diligence – buying is the easy part being sure you have invested wisely takes time!

    Cheers Cherie

    Profile photo of Cherie16Cherie16
    Participant
    @cherie16
    Join Date: 2011
    Post Count: 3

    Also think about the ageing process. Presumably your father is much older and so, we have found, that as family members age, there is a whole other set of challenges. So along with death, divorce and bankruptcy add on to that dementia.

    Good luck with your purchase

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