Tips for buying investment real estate in 2023
Are you considering buying an investment property in 2023?
2023 will be the year that savvy real estate investors re-enter the market, as some experts say all the matching elements are in place to create opportunities for investment strategy. Let's take a look. 
Why now might be a good time to invest
• Property prices are falling in many markets, while rental prices are rising. Rental prices increase a record 10.2% in 2022, averaging $555 per week.
• Vacancy rates are already at record lows, with strong competition among tenants for available properties.
• Migration is back and international students are back. In recent headlines, more than 40,000 Chinese students could return to Australia after the Chinese government stopped recognizing overseas online study qualifications.
Tips for buying an investment property
Budget and plan in advance
With interest rates changing and the cost of living rising, it's important to budget in advance and plan for contingencies if you're buying an investment property. Factor in any further interest rate increases or unexpected costs.
Get inspection report
We could see more mortgagee in possession sales in 2023. These assets may seem like a bargain, but they are likely to come with defects.
Like any property purchase, make sure you have a building and pest inspection completed to be aware of any problems that may arise.
Explore your financing options
With living costs sky-high, it has never been more important to find an investment loan that offers value for money in 2023.
We can find you an investment loan that matches your specific needs – whether it's flexibility that you're chasing after (and features like offset accounts), competitive interest rates or both.
Stay up to update the market
In recent years, we have seen large changes in the real estate market. Staying up to date on information such as interest rate fluctuations, real estate price changes and auction activity is important if you are planning to buy real estate in 2023.
As an investor, you will also want to consider vacancy rates, capital growth trends, profits and rental yields
ClickClick.vn is a great channel to find all the latest news about the real estate market. You can also request a free report from us to get valuable insight into property prices, sale revenue and more.
Negotiate like an expert
When you understand the local real estate market, you will be in a better position to negotiate. For example, if property values fall in the suburb that you are buying or the property remains on the market longer, vendors may be willing to reduce prices to make a sale.
If there's something special you want, don't be afraid to ask. For example, if you are buying an old property and feel that requiring repairs should be part of the purchase agreement contract, negotiate that.
Are you ready to start?
Buying investment property is a journey and it all starts with that first step – contact us.
We'll review your financial needs and budget, then begin the process of organizing your financial pre-approval. Let’s contact ClickClick today.
