Why Purchase a Rental Property in Dandenong

Why Purchase a Rental Property in Dandenong

If you are looking to buy an investment property and put tenants the location you choose to buy in will determine how much you maximise on your return. This is because the area you decide on needs to be in a high demand rental market. This is why lots of landlords choose to purchase a rental property in the city of Greater Dandenong.

Colin Kitney Director of Property Management Dandenong says that “Many people ask how is the investment market in Greater Dandenong and surrounding areas?”

Dandenong is the second largest city of Melbourne with approximately 60% of properties rental investment which means a high rental return. The strong point of Dandenong is the excellent facilities and services provided to residents plus a strong growing industrial area giving secure employment that leak to a strong rental demand giving a low vacancy rate with a strong growth.

Greater Dandenong and purchaing an investment

Another great advantage of Dandenong is the reasonable entry price to purchase and enter the investment market. Older apartment in good condition can be purchased for mid $200’s with a return of $270-$300 per week.
This return can quite often even cover the mortgage payments depending on the amount borrowed.

What to Consider When Purchasing an Investment Property

1. Set a budget
2. Speak with the bank
3. Research where to purchase
4. Know your legal obligations
5. Speak with an accountant about deductions
6. Don’t just look at return also
7. Location to shopping, schools transport
8. Don’t buy for price look at condition
9. What type of property you want to purchase eg. Apartment, unit, townhouse, house and large land
If you would like to know how much a property you are purchasing for sale may be worth for rent contact us today for a rental appraisal on the property and how much rental return you may potentially receive in todays market.

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